TechFlow reports that, according to MLM analysis, on March 30, Abraxas Capital—after previously reducing its position—re-entered Hyperliquid and established large short positions via two accounts. However, this latest position is more likely part of its Elysium Global Arbitrage Fund, continuing its established arbitrage strategy style; the overall position remains market-neutral rather than a unilateral directional bet.
It is reported that Abraxas Capital has already shorted approximately $32.7 million worth of WTI crude oil, approximately $102.8 million worth of Brent crude oil, and approximately $33.2 million worth of gold. These positions account for roughly 10.8%, 21.4%, and 18.4% of the respective open interest on the Hyperliquid platform—representing substantial exposure.
