PANews reported on March 25th that, according to The Block, digital asset treasury company Hyperliquid Strategies announced the launch of options trading for its common stock PURR on the Nasdaq Options Market, aiming to improve the liquidity and price discovery of PURR stock. The company primarily accumulates HYPE tokens through staking, yield optimization, and ecosystem participation to create value for shareholders.

Hyperliquid Strategies went public last December through a merger with Sonnet BioTherapeutics. As of early February 2026, the company held 17.6 million HYPE tokens, representing 1.83% of the total supply. At the end of 2025, the company reported total assets of $616.7 million, but incurred an unrealized loss of $262.4 million due to HYPE price volatility, resulting in a net loss of $317.9 million.