Hyperliquid Strategies prepares up to $2.5 billion to expand HYPE reserves
Hyperliquid Strategies has increased the limit of its share sale program through Chardan Capital Markets from $1 billion to $2.5 billion. The Nasdaq-listed company could use the additional capital to support its HYPE accumulation strategy, having already raised $647 million through the facility.
According to a filing submitted to the SEC on September 1, Hyperliquid Strategies amended its October 2025 Chardan Equity Facility agreement. The maximum aggregate value of common shares the company can issue under the program increased 2.5-fold.
The facility allows Hyperliquid Strategies to periodically direct investment bank and broker Chardan to purchase newly issued shares based on their market price, trading volume and other conditions. Chardan can then resell the shares on the open market.
Company holds about 29.3 million HYPE
The expanded facility gives Hyperliquid Strategies an additional source of funding to purchase HYPE. However, the $2.5 billion represents the maximum available capacity rather than capital the company has already raised.
Hyperliquid Strategies previously reported raising $647 million through the facility. The proceeds helped the company increase its crypto reserves to approximately 29.3 million HYPE.
Further use of the program would involve issuing additional shares. As a result, raising more capital through the facility could dilute existing shareholders.
Despite its name and HYPE accumulation strategy, Hyperliquid Strategies is not affiliated with the developers of the decentralized trading platform of the same name and describes itself as an independent company.
Interest in Hyperliquid grows in August
The expansion follows increased interest in the Hyperliquid ecosystem. HYPE gained more than 20% in August after U.S. President Donald Trump said CFTC Chairman Michael Selig was working on bringing the decentralized platform to the U.S. market in a fully regulated framework.
Hyperliquid Strategies shares rose 30.4% following Trump's comments. The company has therefore expanded its potential fundraising capacity at a time of growing investor interest in both HYPE and Hyperliquid's prospects in the U.S.
Meanwhile, crypto companies are seeking a regulated path to offer perpetual futures in the U.S. market. Payward has proposed a structure that would allow Hyperliquid Labs to provide access to such contracts for U.S.-registered traders through Payward and its Bitnomial unit.
The structure still requires regulatory approval. The initiative comes amid a broader debate over how perpetual crypto contracts could operate under existing U.S. derivatives market rules.
Earlier, we reported that Hyperliquid faced increased scrutiny over activity by crypto wallets linked to North Korea on the platform. The situation raised further questions about sanctions risks and transaction monitoring as the platform considers entering the regulated U.S. market.
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