Nasdaq-listed Lion Group shares jump 20% on $600 million facility for Hyperliquid treasury

Lion Group Holding Ltd., a brokerage and trading firm based in Hong Kong, has secured a $600 million facility from ATW Partners to roll out its Hyperliquid (HYPE) treasury. The initial $10.6 million tranche is set to close within 48 hours following its Wednesday announcement .

"Hyperliquid represents a natural extension of LGHL's existing derivatives business into decentralized markets, and reflects our conviction that decentralized on-chain execution is the future of trading," Wilson Wang, CEO of Lion Group Holding, said in the statement. 

Wang added that the company may allocate funds to Solana and Sui for custody and staking, expected to form "key pillars" to its treasury strategy focused on execution-first protocols. BitGo will custody Lion Group's SOL and SUI assets, according to the release.

Founded in 2015, Lion Group went public on the Nasdaq in 2020 under ticker LGHL. Its stock closed up 19.78% at $3.33 on Wednesday but retraced 3.9% in after-hours trading, according to Yahoo Finance data .

Also on Wednesday, Lion Group announced the relaunch of its crypto operations. The company plans to assess incorporating cryptocurrency exposure into its current portfolio of exchange-traded funds, over-the-counter options, and total return swap products.

The traditional finance industry is witnessing a wave of public companies raising funds or securing loans to build cryptocurrency-based treasuries, led by Michael Saylor's Strategy, known for its regular bitcoin acquisitions .