Hyperliquid ETFs Turn Green After Bleeding $30 Million in Three Weeks
Hyperliquid (HYPE) spot exchange-traded funds (ETFs) returned to internet inflows in the week ending August 7, including $2.84 million after three straight weeks of redemptions.
The reversal adopted a cautious stretch flagged by JPMorgan. Cumulative internet inflows now stand at $280.8 million.
HYPE ETFs Break 3-Week Outflow Streak
HYPE ETFs launched in mid-May and continued to see consecutive inflows, in response to SoSoValue data. However, that momentum light sharply final month.
The three-week slide totaled $30.6 million and peaked with $14.7 million in outflows for the week ending July 31. Bitwise’s BHYP absorbed the largest share of the redemptions.
JPMorgan strategist Nikolaos Panigirtzoglou tied the slowdown to competitors. Weekly value motion mirrored the outflows.
HYPE fell from the low $60s in late July towards $55 by early August. Meanwhile, the token now trades close to $54.75, down about 3% on the day and roughly 29% under its June 16 file of $76.87.
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How Other Crypto ETFs Performed
The HYPE rebound matched a broad return of capital throughout crypto ETFs. Combined weekly inflows throughout main merchandise approached $1.1 billion in the week ending August 7.
Bitcoin (BTC) ETFs led with $853.5 million in inflows, reversing a $61.5 million outflow the prior week. Ethereum (ETH) funds added $244.9 million, their strongest week since mid-April.
In distinction, smaller altcoin merchandise cooled even because the majors surged. Solana (SOL) ETFs drew simply $145,000, down from $7.2 million two weeks earlier. XRP (XRP) funds added $1 million after a $14.9 million intake the week earlier than.
The break up factors to focus. Investors funneled recent cash into Bitcoin and Ethereum whereas trimming smaller altcoin wrappers, with HYPE’s modest influx ending its worst run since launch.
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The publish Hyperliquid ETFs Turn Green After Bleeding $30 Million in Three Weeks appeared first on BeInCrypto.
