TLDR
- Hyperliquid’s HYPE is now the largest holding in Multicoin Capital’s hedge fund, according to Bloomberg.
- Multicoin did not disclose the size of its position.
- The Hyperliquid Policy Center sent the SEC a comment letter with five rule suggestions.
- HYPE bounced near $76.8 support, with $66.2 below and $83.7 resistance above.
- RSI sits at 38 and Stochastic is oversold at 11.
Hyperliquid’s HYPE is now the largest holding in Multicoin Capital’s hedge fund. Spencer Applebaum, the firm’s general partner, shared the detail with Bloomberg on Monday.
🔥BULLISH: $2.7 BILLION crypto investment firm Multicoin Capital reveals HYPE is now its hedge fund’s 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… pic.twitter.com/wPUfIQnYEf
— Coin Bureau (@coinbureau) October 19, 2026
Multicoin bought HYPE on public markets and did not disclose the size of the position. Applebaum said the firm plans to keep investing in digital assets.
He also questioned efforts to force links between blockchain and artificial intelligence.
Multicoin first flagged its stake in a June 25 post, calling HYPE “one of the largest positions in our liquid fund.” The firm said it began buying early in 2026.
Its June research set a base-case price of $319 for HYPE by 2028. The bear case was $109 and the bull case was $689.
Lookonchain tracked Multicoin-linked deposits to Coinbase Prime in September, including 130,331 HYPE on Sept. 24. The deposits do not confirm any sales.
Separately, Hyperliquid Strategies bought 494,200 HYPE worth $45.8 million over 16 hours, according to Lookonchain.
Policy Center Seeks SEC Changes
The Hyperliquid Policy Center sent a comment letter to the SEC on Monday. It backed the proposed Regulation Crypto Assets framework and added five suggestions.
HPC wants the SEC to write its March airdrop interpretation into the final rule. That view says recipients who pay nothing have not made an investment.
The group also said using a network, running a validator or supplying liquidity should not automatically create an investment contract. Steps like connecting a wallet or sanctions screening should not count as payment.
On safe harbor, HPC said the proposed certification could expose projects to legal liability. “A project whose counsel concluded that no investment contract ever existed cannot reasonably certify otherwise,” it stated.
HYPE Price Action
Chart’s looking heavy here. HYPE bounced near $76.8 after a quick weekend dip, but sellers are back. Lose that level and $66.2 is the next stop.
RSI is at 38 and Stochastic is at 11, so bears are in control, though oversold readings leave less room to fall. Bulls need a break above $83.7 before $88.20 comes into play. Watch the $76.8 support next.
What if $HYPE goes for a second time to sweep the recent low before pushing for another higher high and a new visit into the blue sky of discovery?
It would be a pretty interesting trade to take! pic.twitter.com/pNtiUr9mL6
— Sjuul | AltCryptoGems (@AltCryptoGems) October 19, 2026
Analyst Sjuul of AltCryptoGems asked on X whether HYPE could sweep its recent low a second time before pushing for a new higher high. He called it an interesting trade to take.
Applebaum’s Bloomberg comments came Monday, the same day HPC filed its letter with the SEC.
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