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Eole Becomes First Japanese Listed Company to Buy Hyperliquid

Eole is adding HYPE to its balance sheet through its Neo Crypto Bank plan, while U.S. spot funds see outflows and large holders move tokens to exchanges.

By Zenz van der Wielen
• 2 min read
Eole Becomes First Japanese Listed Company to Buy Hyperliquid

Key Takeaways

  • Eole is the first publicly traded Japanese company to add Hyperliquid to its balance sheet and bought 1,078 HYPE for 10.08 million yen.
  • The company plans to expand the position to 100 million yen and is tying the purchase to its Neo Crypto Bank plan.
  • U.S. spot HYPE funds have had no inflows since July 15, while large holders have moved millions of HYPE to exchanges.

Eole is the first publicly traded Japanese company to add Hyperliquid (HYPE) to its balance sheet. The Tokyo-listed firm said it bought 1,078 tokens for 10.08 million yen, even as U.S. HYPE funds have gone weeks without fresh inflows and large holders have been sending tokens to exchanges.

First Japanese Corporate Buy

Eole said it paid an average of 9,352.776 yen per token and plans to keep adding to the position in stages through the end of August. If it follows through, the total purchase will reach 100 million yen. The company is linking the move to its Neo Crypto Bank plan, which it announced in October 2025.

According to Eole, HYPE fits into a wider push toward software-based settlement for AI applications that do not rely on a bank account. The company said smart contracts are meant to make those payments faster and cheaper. It also said this is the first time a listed company in Japan has added HYPE as a strategic asset, alongside its existing Bitcoin holdings.

U.S. Funds See Outflows

The Japanese purchase lands during a softer stretch for HYPE in the United States. Spot HYPE funds have not seen any inflows since July 15, with seven trading days of outflows and three sessions unchanged. Over that span, roughly $27 million (€23.7 million) left the funds, pulling assets under management down from $370.8 million (€326 million) on July 6 to $252.38 million (€222 million).

The blockchain activity has also been hard to miss. Lookonchain reported that Multicoin Capital moved 137,100 HYPE, worth about $7.51 million (€6.6 million), to Coinbase Prime. A wallet tied to Selini Capital also transferred 495,473 HYPE, worth about $26.8 million (€23.5 million), to OKX. Combined, the two moves totaled 632,573 HYPE.

Why This Matters

For European crypto readers, the main point is that HYPE is drawing institutional interest and selling pressure at the same time. Hyperliquid has picked up more attention in recent months through ETF products and a growing base of professional traders, but the recent outflows show that demand rarely moves in a straight line. That makes the token a useful barometer for how quickly new crypto infrastructure can gain traction beyond its core community.

HYPE's price remained under pressure in July. On Thursday, the token traded at $53.9 (€47), down 19.4 percent over the past 30 days. That made HYPE the worst-performing token in the top 20 cryptocurrencies over that period, and it was still 29.8 percent below its all-time high of more than $76 (€67) set on June 16.

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