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Multicoin Capital makes HYPE largest hedge fund holding

Multicoin Capital has built HYPE into the largest position within its hedge fund, resisting a broader venture push into artificial intelligence to stay focused entirely on digital assets, Bloomberg reported.

Graphic featuring the Multicoin Capital logo alongside the Hyperliquid HYPE token logo.
Image: @crypto_banter

Multicoin Capital, an investment firm managing roughly $2.7 billion, has established HYPE as the largest position in its hedge fund, according to a Bloomberg report. General partner Spencer Applebaum said the holding was acquired entirely through public markets, though the firm declined to disclose the total size of its position.[1][2][3][4]

The accumulation comes as Multicoin opts to double down on crypto rather than join rival investment firms venturing into artificial intelligence. While competitors including Paradigm, Framework Ventures, and Haun Ventures have expanded into AI, Applebaum noted that Multicoin sees no reason to chase the investment boom and will not expand into standalone AI or robotics.[1][2][4]

Key facts

  • Multicoin Capital manages approximately $2.7 billion in assets.
  • General partner Spencer Applebaum said HYPE is currently the largest position in Multicoin's hedge fund, according to Bloomberg.
  • Multicoin accumulated its HYPE holdings through public markets but declined to disclose the position's exact size.
  • Peer firms Paradigm, Framework Ventures, and Haun Ventures have expanded into artificial intelligence.
  • Multicoin stated it will not expand into standalone AI or robotics and intends to maintain its exclusive focus on digital assets.

Sources 路 4 sources

  1. CB

    Coin Bureau@coinbureauPost on X 路

    馃敟BULLISH: $2.7 BILLION crypto investment firm Multicoin Capital reveals HYPE is now its hedge fund鈥檚 LARGEST position, Bloomberg reports. The firm accumulated $HYPE through public markets but declined to disclose the size of its holdings. While rivals expand into AI, Multicoin is doubling down on crypto, saying it sees NO REASON to chase the AI investment boom.

    Open source
  2. WB

    Wu Blockchain@WuBlockchainPost on X 路

    Multicoin Says HYPE Is Its Hedge Fund鈥檚 Largest Position as It Sticks With Crypto Over AI According to Bloomberg, Multicoin Capital, which manages about $2.7 billion, plans to remain focused on crypto even as peers including Paradigm, Framework Ventures and Haun Ventures expand into AI. General partner Spencer Applebaum said HYPE is currently the largest position in Multicoin鈥檚 hedge fund and was acquired through the public market, though he did not disclose the size of the holding. He added that the firm sees no reason to shift away from crypto simply to follow the AI investment boom.

    Open source
  3. BL

    BlockNews@blocknewsdotcomPost on X 路

    馃毃 BULLISH: $2.7 BILLION crypto investment firm Multicoin Capital reveals that $HYPE is now the LARGEST position in its hedge fund, according to Bloomberg. 馃殌 The firm accumulated HYPE through public markets but declined to disclose the size of its holdings. https://t.co/seC1YQcwXq

    Open source
  4. CB

    Crypto Banter@crypto_banterPost on X 路

    馃毃MULTICOIN SAYS HYPE IS ITS LARGEST POSITION AS $2.7B FIRM HOLDS OUT ON AI! In a Bloomberg interview, general partner Spencer Applebaum said hyperliquid:native is Multicoin鈥檚 biggest hedge fund holding, all bought in the public markets. He also said the $2.7B firm is resisting the AI rush sweeping other crypto VCs and will not expand into standalone AI or robotics, keeping its focus on digital assets.

    Open source