CoinMeta data: The HYPE token of Hyperliquid has become the largest holding of Multicoin Capital's hedge fund. The investment firm reiterated its focus on cryptocurrencies, rather than independent artificial intelligence investments. A partner of Multicoin, Spencer Applebaum, stated that HYPE is the largest holding of the fund, but did not disclose the specific size. Applebaum also mentioned that Multicoin will continue to invest in digital assets and questioned attempts to forcibly link blockchain with artificial intelligence. The company began to hold a large amount of HYPE in early 2026 and has continued to increase its holdings, calling it an important asset within its liquid funds.