Spot Hyperliquid (HYPE) exchange-traded funds (ETFs) recorded their first weekly outflow since launching in May.
Bitcoin (BTC) and Ethereum (ETH) funds moved the other way, pulling in fresh capital for a second straight week. The reversal came alongside a sharp decline in the token’s price.
HYPE ETF Streak Ends While Majors Recover
The HYPE funds shed $7.26 million in the week ending July 17, according to SoSoValue data. That ended a run of 9 consecutive inflow weeks.
It cut cumulative net inflows from $308.6 million to $301.34 million. Meanwhile, net assets fell 12.7% to $306.03 million.
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Meanwhile, the largest crypto funds moved in the opposite direction. Bitcoin ETFs drew $75.67 million, their second straight positive week after 8 consecutive weeks of outflows.
Ethereum ETFs added $105.44 million, their strongest weekly haul since late April. XRP (XRP) funds gained $6.78 million, and Solana (SOL) products collected nearly $1 million. Combined, the four major fund groups attracted over $188 million.
HYPE Leads Top 10 Losses This Week
The ETF outflows tracked a weak stretch for the token itself. HYPE has dropped over 8% in the past week, making it the biggest loser among the top 10 cryptocurrencies.
The token fell below $60 last week. It has moved back above the level and trades at $60.66. The selloff also coincided with a broader risk-off move across altcoins last week. However, HYPE underperformed the total market cap, which stayed roughly flat over the same period.
Whether ETF investors return may depend on how the token holds its current support. Next week’s flow data will show whether the outflow was a one-off or the start of a rotation away from HYPE.
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Source: BeInCrypto
