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Crypto

Abraxas Capital Dials Back Hedge with $32M Ethereum Purchase

Guavy AI Editorial Team
Instruments
HYPE ETH
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Abraxas Capital has made another significant Ethereum purchase to hedge its massive short position on Hyperliquid.

The investment manager bought 13,000 ETH worth $32.39 million in the spot market to partially cover a 141,180 ETH short valued at $353.27 million.

This latest transaction is not Abraxas' first large on-chain move involving Ether; in May 2025, the firm accumulated more than 211,000 ETH worth over $477 million during a six-day buying spree.

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