Institutional investors have begun establishing measurable positions in exchange-traded funds tied to the HYPE token, the native asset of the Hyperliquid decentralized derivatives platform. Data from the first set of quarterly 13F filings show that 30 firms reported aggregate holdings valued at approximately $74.9 million as of June 30.

The disclosures mark an early view into traditional finance participation in products that offer regulated exposure to Hyperliquid without requiring direct interaction with its blockchain. Bloomberg Intelligence ETF analyst James Seyffart compiled and shared the list of known holders based on the filings.

Largest Disclosed Positions

Wealth High Governance Asset Management, a Brazil-based firm, reported the single largest stake. It held 632,614 shares of the 21Shares Hyperliquid Staking ETF, valued at $23.95 million on the June 30 reporting date.

OLP Capital Management ranked second with roughly $10.5 million in exposure. UBS followed with $7.5 million, Bank of Montreal with $6.7 million, and Jane Street with $4.4 million. Together, these five institutions accounted for about $53 million, or roughly 71 percent of the total disclosed amount.

Other names appearing in the filings include Discovery Capital, Brevan Howard, Balyasny Asset Management and Boothbay Fund Management. Smaller reported positions ranged down to approximately $22,000 from Royal Bank of Canada and just over $1,000 from Tower Research Capital.

Context of the Filings and Product Structure

The three Hyperliquid ETFs launched earlier in 2026 and track exposure to the HYPE token. The vehicles allow investors to obtain that exposure through conventional brokerage accounts rather than by holding the token directly on Hyperliquid’s chain.

Hyperliquid operates as a decentralized platform focused on perpetual futures contracts and runs its own blockchain infrastructure. The 13F data capture positions held by investment managers required to report when they oversee at least $100 million in qualifying securities. As a result, the $74.9 million figure does not represent the complete universe of institutional capital allocated to the funds.

Analysts note that bank-reported holdings can include securities held on behalf of clients, while trading firms may use the ETF positions as hedges. The June 30 snapshot also does not reflect any subsequent purchases or sales that may have occurred after the reporting period.

Market and Regulatory Backdrop

U.S. investors continue to face limitations on direct access to certain Hyperliquid products. Separate efforts are underway involving regulated entities and the Commodity Futures Trading Commission aimed at introducing compliant perpetual futures linked to the platform.

The concentration of holdings among a relatively small group of institutions provides an initial institutional footprint for the ETFs only months after their introduction. Further quarterly filings and any changes in regulatory treatment of related products are expected to supply additional detail on the scale and composition of these positions over time.