Hyperliquid Feels Like Solana in Its Early Days

Cathie Wood: Hyperliquid Feels Like Solana in Its Early Days

Written by Aaron S.,

Editor-In-Chief

Last Updated: September 29, 2025

Key Takeaways

Cathie Wood sees similarities between Hyperliquid and Solana's early growth, though ARK has not yet invested in the project;
ARK Invest holds Bitcoin, Ethereum, and Solana, with Solana exposure gained through Breera Sports, not direct token ownership;
Wood noted that only a few cryptocurrencies will lead the market, with Bitcoin as the top asset and Ethereum supporting DeFi.

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Cathie Wood, the head of ARK Invest, shared her thoughts on Hyperliquid $94.53M during an interview on the Master Investor podcast.

While she did not confirm any investment in the project, she mentioned it reminds her of what Solana was like when it first started gaining attention.

Wood described Hyperliquid as a platform worth keeping an eye on.

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At ARK, the focus is on a small group of digital assets. The company’s public funds currently hold Bitcoin BTC $112,187.17 , Ethereum ETH $4,109.88 , and Solana SOL $207.50 . Although Solana is not held directly in those funds, ARK is connected to it through an investment in Breera Sports, a company linked to the Solana treasury.

Wood added that the project also has support from investors in the Middle East and receives advice from economist Art Laffer.

The discussion around Hyperliquid comes as competition among decentralized trading platforms for futures has been rising. Recently, a platform called Aster launched its own token and gained more trading activity than Hyperliquid.

Wood noted that the cryptocurrency market will narrow over time rather than expand endlessly. She said:

We don’t think there are going to be very many cryptocurrencies. Bitcoin owns the cryptocurrency space when it comes to pure crypto.

According to her, Ethereum supports decentralized finance (DeFi) applications, while Bitcoin serves as a monetary system thanks to its limited supply and strong resilience.

Meanwhile, DBA Asset Management recently introduced a plan to cut the total number of HYPE tokens in circulation by 45%. Why? Read the full story.