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Wintermute-Linked Wallet Shows $126.25M in Hyperliquid Shorts—With Important Caveats
On September 28, an on chain tracker attributed $126.25 million in Hyperliquid shorts to a Wintermute linked wallet, led by a $46.92 million Ether position. The tracked short total was roughly $23 million below the August 31 figure of $149.2 million, while Bitcoin and Ether had rallied from mid August lows and reach...
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Key takeaways
- On September 28, an on chain tracker attributed $126.25 million in Hyperliquid shorts to a Wintermute linked wallet, led by a $46.92 million Ether position.
- The tracked short total was roughly $23 million below the August 31 figure of $149.2 million, while Bitcoin and Ether had rallied from mid August lows and reached cycle highs on September 21.
- Other September 28 reports put the shorts at about $93 million; the available reports do not explain the difference, so the figures should not be treated as a single definitive account wide total.
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openai.comCreate a landscape editorial hero image for this Studio Global article: As of September 28, what did on-chain data show about the size, token breakdown, and profits of Wintermute’s short positions on Hyperliquid,. Article summary: As of September 28, an on-chain tracker reported about $126.25 million in Hyperliquid shorts in a wallet it attributed to Wintermute. The positions looked bearish on that venue, but they do not establish that Wintermute . Topic tags: general, general web, user generated. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts with fa
An on-chain tracker reported that a wallet it attributed to Wintermute held $126.25 million in short positions on Hyperliquid on September 28, 2026. Ether was the largest disclosed position, and the tracked wallet showed a profit at that moment. But the figure is a venue-level snapshot, not a complete view of Wintermute’s exposure—and other reports from the same date gave a materially different total. 21
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The reported shorts and profits
The tracker listed a $46.92 million short in Ether (ETH), an $11.30 million short in Solana (SOL), and a $10.03 million short in Hyperliquid’s HYPE token among the largest positions. It put the open positions’ unrealized profit at approximately $963,600. The wallet’s reported lifetime profit and loss was $197.22 million, a separate cumulative figure—not profit earned on these open shorts alone. 21
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These are reported position values and profit figures for a wallet identified by the tracker as Wintermute-linked. They should not be read as independently confirmed totals for the firm’s entire portfolio. 21
How the total compared with late August
On August 31, a report citing Onchain Lens put the wallet’s Hyperliquid shorts at about $149.2 million, alongside roughly $5.01 million in longs and $1.73 million in unrealized profit. Compared with that snapshot, the September 28 short total was about $23 million lower. 13
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The market backdrop had also changed. Bitcoin and Ether rose substantially from their mid-August lows and reached cycle highs on September 21 before easing back, according to a September 23 market review. 25 Wintermute’s own September 21 update described Ether and altcoins as having gained over the week.
27 The short positions therefore appeared amid a rally and subsequent pullback, not a continuous month-long decline.
Why reports disagree—and what the data cannot show
Some September 28 reports put the Hyperliquid shorts at about $93 million, with approximately $5.12 million in longs, rather than $126.25 million. 1
6 The sources available here do not explain the gap, so the figures cannot be confidently reconciled. They may represent different snapshots or tracking scopes, but that remains uncertain.
Even the larger figure describes positions on one trading venue. On-chain data for a tracked wallet does not reveal Wintermute’s full inventory, positions on other platforms, or any offsetting hedges. A substantial short book on Hyperliquid may look bearish in isolation, but it does not establish that the firm was making an unhedged bet on falling crypto prices across its business.
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What is the short answer to "Wintermute-Linked Wallet Shows $126.25M in Hyperliquid Shorts—With Important Caveats"?
On September 28, an on chain tracker attributed $126.25 million in Hyperliquid shorts to a Wintermute linked wallet, led by a $46.92 million Ether position.
What are the key points to validate first?
On September 28, an on chain tracker attributed $126.25 million in Hyperliquid shorts to a Wintermute linked wallet, led by a $46.92 million Ether position. The tracked short total was roughly $23 million below the August 31 figure of $149.2 million, while Bitcoin and Ether had rallied from mid August lows and reached cycle highs on September 21.
What should I do next in practice?
Other September 28 reports put the shorts at about $93 million; the available reports do not explain the difference, so the figures should not be treated as a single definitive account wide total.