Digital asset treasury company Hyperliquid Strategies launches PURR stock options trading

March 25th, 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 enhance PURR stock liquidity and price discovery. The company primarily generates value for shareholders by accumulating HYPE tokens through staking, yield optimization, and ecosystem participation. 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. By the end of 2025, the company reported total assets of $616.7 million, but incurred an unrealized loss of $262.4 million and a net loss of $317.9 million due to HYPE price volatility.