Hyperliquid Fund Accumulates More Than 48 Million HYPE Tokens

Hyperliquid’s Assistance Fund holds more than 48 million HYPE tokens valued at approximately $3.953 billion, underscoring the scale of the protocol’s buyback program as of Oct. 13.

The fund has spent about $1.365 billion acquiring HYPE through ongoing open-market purchases. Protocol trading-fee revenue provides its primary funding source, while the buybacks return value to token holders.

Hyperliquid has also begun directing some returns from its USDC reserves to the Assistance Fund through the AQAv2 framework. The change broadens the resources available for buybacks beyond trading-fee revenue alone.

The latest figures extend earlier HYPE buyback coverage, which detailed the fund’s accumulated purchases and token removals.