HYPE treasury company PURR surged over 17% intraday, with mNAV rising to approximately 1.078.

October 29 — As HYPE continued to rally past $94, the market-to-net-asset-value multiple (mNAV) of HYPE treasury company Hyperliquid Strategies (PURR) has climbed back above 1. According to data from the BIT stock platform, its mNAV currently stands at approximately 1.078, a premium of about 7.8% to net asset value. PURR is now trading at around $11.66, up more than 17% intraday, with net asset value per share of about $10.81, corresponding to roughly $85.96 per HYPE.

Today's move comes as ICE, the parent company of the New York Stock Exchange, plans to partner with Trade.xyz to bring perpetual contract products into regulated U.S. markets.