Hyperliquid Strategies has launched options trading for its common stock PURR on the Nasdaq Options Market, aiming to enhance liquidity and investor access.
The company said the move is designed to improve price discovery for PURR shares, which provide capital-efficient exposure to its native HYPE token.
“This is a major milestone for the company,”
Said Hyperliquid Strategies CEO David Schamis, adding:
“PURR options allow our investors to better manage risk and participate in the rapid growth of Hyperliquid's high-performance ecosystem.”
Hyperliquid Strategies focuses on accumulating HYPE tokens to drive shareholder value through staking, yield optimisation, and broader ecosystem participation.
The options launch comes as Hyperliquid reports strong growth, with its HIP-3 perpetual futures tied to tokenised real-world assets reaching $1.74 billion in open interest within six months.
The company went public in December via a merger with Sonnet BioTherapeutics and held 17.6 million HYPE tokens, or about 1.83% of supply, as of early February 2026.
Despite reporting total assets of $616.7 million at the end of 2025, Hyperliquid posted a net loss of $317.9 million, largely due to unrealised losses on its HYPE holdings amid price volatility.
At the time of reporting, Hyperliquid price was $40.07.