Hyperliquid AQA v2 Wallet Estimated to Hold $6.21B in USDC, Generating $193M Annualized Revenue

A new analysis by Arete Capital Managing Partner McKenna has estimated that Hyperliquid's AQA v2 wallet holds approximately $6.21 billion in USDC as of September 6, 2026.

This estimate is based on a 30-day SOFR rate of 3.65%, which gives the indicative AQA yield at roughly 3.10%.

The annualized revenue derived from this position is estimated to be around $193 million.

If roughly 90% of this revenue flows to the Assistance Fund, it generates an estimated $527,000 per day in HYPE buyback pressure.