Multicoin Capital has sold approximately another 10% of its HYPE position, leaving it with roughly $90.5 million in holdings, representing slightly more than a quarter of its peak position of around 4 million tokens accumulated in February and March. The firm has now sold nearly 75% of its peak position. In July, Multicoin invested $1.75 million in Trasia Labs, an Asia-focused perpetual futures platform built on Hyperliquid, as the sole investor in the seed round. Meanwhile, HYPE was added to Hashdex’s Nasdaq CME Crypto Index ETF with an approximately 3.4% weighting, making it the fifth-largest holding behind Bitcoin, Ethereum, XRP and Solana.
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