Hyperliquid's digital asset treasury companies (DATs) now hold nearly 9% of the circulating supply of HYPE, surpassing the treasury holdings of BTC, ETH, SOL, and BNB, according to on-chain analyst @0xaletheia369. HYPE is the only DAT asset trading with a positive mNAV, facilitating easier financing and continued supply absorption. If an ETF is approved, new passive funds will encounter a tighter circulating supply, early institutional holdings, and existing treasury buying, potentially supporting the price.
Hyperliquid's DATs Hold Nearly 9% of HYPE Supply, Surpassing Major Cryptos
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