Duquesne Household Workplace has disclosed a $23 million place in Hyperliquid Methods Inc., giving Stanley Druckenmiller’s funding workplace oblique publicity to $HYPE by way of the Nasdaq-listed digital asset treasury firm.
The SEC submitting for the second quarter of 2026 confirmed Duquesne held shares of Hyperliquid Methods, which trades beneath the ticker $PURR, as of June 30, with the place showing within the household workplace’s portfolio for the primary time.
The disclosure provides Duquesne to the institutional traders gaining publicity to Hyperliquid by way of publicly traded shares as an alternative of buying the protocol’s $HYPE token instantly. Hyperliquid Methods operates as a digital asset treasury firm constructed round accumulating and managing $HYPE.
Fintel information based mostly on the submitting additionally lists $PURR as a brand new Duquesne place, accounting for roughly 0.44% of the funding supervisor’s reported portfolio.
Duquesne provides Hyperliquid Methods to its portfolio
Hyperliquid Methods has constructed one of many largest company $HYPE holdings since establishing its digital asset treasury enterprise.
As crypto.information beforehand reported in February, the Nasdaq-listed firm bought one other 5 million $HYPE for about $129.5 million at a median value of $25.90 per token. The acquisition elevated its holdings on the time to 17.6 million $HYPE whereas leaving the corporate with about $125 million in money.
Its holdings later elevated considerably. Artemis information cited in a June treasury report confirmed Hyperliquid Methods managed about 23.7 million $HYPE and was sitting on greater than $1.1 billion in unrealized positive factors on the time.
The report discovered $HYPE-focused treasury corporations had been among the many few main digital asset treasury teams nonetheless carrying sizeable paper income through the June market downturn. Bitcoin, Ether and Solana treasury corporations, by comparability, had been recording substantial unrealized losses as costs fell.
Duquesne’s $23 million $PURR holding provides the household workplace publicity to that treasury construction by way of a regulated U.S. fairness. The 13F doesn’t present whether or not the agency purchased the shares in a single transaction or collected them at totally different factors through the quarter, for the reason that submitting solely reviews holdings as of June 30.
Type 13F reviews are required from institutional funding managers that train funding discretion over no less than $100 million in sure securities. The disclosures present a quarterly snapshot of reportable holdings however don’t present positions bought or offered after the reporting date.
Hyperliquid Methods has collected thousands and thousands of $HYPE
Institutional curiosity in Hyperliquid Methods got here as $HYPE recorded massive value swings through the second quarter.
$HYPE reached a report of about $73.7 on June 1 after gaining greater than 70% over the previous month. On the time, Hyperliquid Methods was already one of many largest publicly recognized company holders of the token.
Demand for $HYPE had additionally expanded by way of regulated funding and derivatives merchandise. In June, Kalshi launched CFTC-regulated $HYPE perpetual futures for U.S. merchants, after which $HYPE futures open curiosity rose to $2.48 billion and briefly surpassed XRP open curiosity, in line with a June 11 report.
Institutional publicity has not been restricted to listed treasury corporations. Bitwise Chief Funding Officer Matt Hougan mentioned in Could that $HYPE had gained 77% for the reason that begin of 2026 whereas Hyperliquid processed about $170 billion in month-to-month buying and selling quantity.
Bitwise additionally mentioned it could direct 10% of administration charges collected from its BHYP Hyperliquid exchange-traded fund towards buying and holding $HYPE by itself stability sheet, as detailed in Could.
Hyperliquid’s token mannequin sends a big share of protocol buying and selling charges towards $HYPE purchases by way of its Help Fund. The mechanism has offered one other supply of demand alongside company treasury purchases and funding merchandise.
Fed Chair Kevin Warsh beforehand labored with Duquesne
Duquesne’s newly disclosed $PURR funding additionally comes with a connection to Federal Reserve Chairman Kevin Warsh, who labored with the household workplace earlier than returning to the central financial institution.
The Federal Reserve’s official biography says Warsh served as a associate at Duquesne Household Workplace after leaving the Fed’s Board of Governors in 2011. Warsh had beforehand served as a governor from 2006 to 2011 and returned to the central financial institution as chairman on Could 22, 2026.
Earlier than his affirmation, monetary disclosures filed as a part of the nomination course of offered extra element about his relationship with Stanley Druckenmiller’s funding workplace.
Warsh disclosed belongings value properly over $100 million, in line with his April monetary disclosure, though authorities ethics types report investments in ranges and don’t at all times present exact valuations.
Two positions within the Juggernaut Fund LP had been every listed at greater than $50 million. The disclosure didn’t determine the underlying investments due to pre-existing confidentiality agreements, whereas Warsh dedicated to divesting the positions if confirmed.
The identical submitting confirmed that Warsh had acquired $10.2 million in consulting charges from Druckenmiller’s funding workplace through the interval coated by the disclosure. His general consulting revenue exceeded $13 million throughout a number of monetary corporations.
Warsh additionally agreed to eliminate belongings required beneath Federal Reserve ethics guidelines earlier than assuming the chairmanship. Fed funding guidelines launched in 2022 place restrictions on the securities that senior officers and their speedy households might maintain, together with crypto-related belongings.
After finishing the affirmation course of, Warsh took workplace as Federal Reserve chairman on Could 22 for a four-year time period ending Could 21, 2030. He additionally turned chairman of the Federal Open Market Committee and holds a separate time period as a member of the Board of Governors by way of January 31, 2040.
