Overview

• The Nasdaq-listed trading-platform operator will phase the conversion over the coming months using a disciplined accumulation program.
• Management says the move targets portfolio efficiency and long-term growth by aligning reserves with Hyperliquid’s on-chain order book and DeFi infrastructure.
• BitGo’s late‑August addition of HyperEVM and institutional HYPE custody in the U.S. is described as removing a key custody hurdle.
• The plan advances a June 2025 treasury blueprint that targeted up to $600 million for HYPE accumulation alongside SOL and SUI.
• HYPE traded around $51.90 at publication, while LGHL shares were recently about $1.25, down roughly 7% on the day.