Hyperliquid Strategies lifts PURR buyback to $100 million as shares slide

24 Oct 2026

24 Oct 2026, 05:14 UTC+02:00

Markets TradeReviewed News Desk

The largest HYPE treasury company is leaning on buybacks to support its stock. Hyperliquid Strategies Inc., listed on Nasdaq as PURR, said on Friday it has increased its share repurchase program from $30 million to $100 million.

The details

About $72 million remains available under the expanded program, and the board extended the expiry from 5 December 2026 to 31 October 2027. The company said the move reflects the board’s confidence in its long term capital strategy and gives it flexibility as part of treasury management. Repurchases can be made on the open market, in private deals or by other legal methods, and timing will depend on market conditions. The program does not oblige the company to buy and can be suspended.

Underperforming bitcoin

The announcement follows a rough October. PURR traded near $8.80 on Friday, down about 33% from its 5 October high of $13.05, according to Yahoo Finance data cited by Crypto Briefing. HYPE, the native token of the Hyperliquid blockchain, was around $77, more than 18% below its October high near $95. Bitcoin, by contrast, has traded mostly between $80,000 and $87,000 this month, down about 6% from its high.

Hyperliquid Strategies describes itself as the largest digital asset treasury vehicle focused on HYPE. It aims to generate returns through staking and active participation in the network rather than relying only on the token’s price.

The treasury company playbook

Buybacks are a common response when a treasury company’s shares trade at a discount to the value of the tokens it holds. Repurchasing shares below net asset value can increase holdings per share. Critics argue it shrinks the cash available for future token purchases. Buybacks are also politically contested, with Michigan Senate candidate Abdul El-Sayed this week calling for them to be banned.

What it means for traders

• Treasury stocks amplify moves: PURR fell further than HYPE, a reminder that equity wrappers add their own volatility.
• Direct exposure is simpler: HYPE spot and perps trade on major exchanges. Compare them in our exchange comparison.
• Mind the fees: check costs with our fee calculator.

Sources

• Crypto Briefing: Hyperliquid Strategies expands stock buyback program to $100M as PURR shares fall over 30%

News is for information only and is not financial advice. More crypto news