Galaxy Digital-Linked Wallet Moves $125M Into Hyperliquid for Spot Buys and Hedged Shorts

• The wallet holds $178.9M split between $106.4M spot and $72.5M perpetual positions.
• Large spot holdings include USDC, ETH, HYPE, BTC, UPUMP, and UFART with mixed unrealized gains and losses.
• The portfolio used high-leverage shorts on BTC, ETH, DOGE, PUMP, and FARTCOIN.

A blockchain wallet  0xcaC1, linked to Galaxy Digital, moved $125 million in USDC to Hyperliquid over the past two days. The address now controls $178.9 million in combined perpetual contracts and spot holdings, divided into $72.5 million in perps and $106.4 million in spot assets.

Large Spot Positions Across Multiple Assets

According to a Lookonchain post on X about the wallet, the spot portfolio shows the largest balance in USDC at $35.35 million. Ethereum (UETH) follows with $32.51 million, representing 6,849.83 UETH at $4,746.1 each. 

HYPE tokens hold a $20.42 million value from 427,870.17 units priced at $47.733. Bitcoin (UBTC) holdings stand at $17.06 million, totaling 137.78 BTC valued at $123,870 each. Additional positions include $605,806 in UPUMP and $449,340 in UFART.

Spot gains remain mixed. UETH shows an unrealized profit of $1.44 million, while HYPE records a $4.43 million increase. UBTC is up $379,373. However, UPUMP is down $300,855, and UFART has dropped by $105,010.

Aggressive Short Exposure in Perpetual Contracts

A deeper analysis of the activity reveals perpetual positions that reveal short exposure. At the time of report, BTC shorts total $39.37 million with -317.78 BTC at $123,888, recording a $955,897 loss. ETH shorts reach $32.48 million with -6,847.63 ETH at $4,744.2, down $1.43 million. DOGE shorts amount to $4.91 million with -2 billion DOGE at $0.24573, losing $12,128.

On the other hand, shorts in PUMP are valued at $645,070 with -1.64 billion tokens, producing a $319,951 gain. FARTCOIN shorts stand at $449,383 with -400,020.5 units at $1.1234, gaining $104,843. Another short in token “S” totals $330,790 with -1 million units, down $11,878.

At the time of the report, it is notable that high leverage was used in these positions. BTC and ETH operated at 20x cross leverage, while DOGE and FARTCOIN used 10x.  Funding flows remained positive across most contracts. BTC shorts earned $293,117 in funding, while ETH shorts generated $56,585. DOGE funding now reads at  $6,765, PUMP funding reached $36,926, FARTCOIN collected $13,906 , and “S” earned $8,529.

According to the available data, the portfolio structure combined large spot purchases in BTC, ETH, HYPE, PUMP, and FARTCOIN with short positions in the same assets. The wallet’s current allocations and leverage settings indicate an active strategy across multiple high-cap and mid-cap tokens.