Hyperliquid (HYPE) funds have turned to inflows: what's behind the trend shift
Spot exchange-traded funds on the Hyperliquid token (HYPE) recorded net capital inflows for the first time in three weeks. In the week ending August 7, products received $2.84 million, marking a reversal after a prolonged phase of outflows.
This return to positive momentum looks especially significant against the backdrop of recent sluggishness noted by analysts at major banks. The cumulative net inflow into HYPE funds since their launch has now reached $280.8 million, confirming the persistence of long-term institutional interest in this asset despite short-term corrections.
Inflow into HYPE ETF after three weeks of outflows
HYPE funds entered the market in mid-May and steadily grew assets under management for the first few weeks. However, momentum faded last month: over three weeks, investors withdrew $30.6 million from the ETFs. The peak of pressure came in the week from July 27 to 31, when outflows reached $14.7 million. The main source of negativity was the Bitwise BHYP fund, which posted the largest negative figure during that period.
It is worth noting that the weakening interest coincided with intensifying competition in the crypto-ETF segment. The price dynamics of the HYPE token itself mirrored capital flows: in late July, the asset's value began to decline from just above $60 and dropped to $55 in the first days of August. At the time of the analysis, the token was trading around $54.75, losing about 3% in a day and 29% from its all-time high of $76.87, recorded on June 16.
Dynamics of other crypto ETFs
The recovery of HYPE funds occurred in parallel with the return of large capital to the entire digital asset segment. In the week from August 3 to 7, total inflows into crypto ETFs approached $1.1 billion. Bitcoin funds (BTC) attracted $853.5 million, fully offsetting the outflow of $61.5 million the previous week. Ethereum funds (ETH) added $244.9 million — the best result since mid-April.
However, smaller altcoin-based products showed modest results. Investors poured only $145,000 into Solana funds (SOL), compared to $7.2 million two weeks earlier. XRP funds (XRP) received $1 million after an inflow of $14.9 million the previous week. This distribution of strength points to clear concentration: investors are directing fresh capital primarily into bitcoin and Ethereum, reducing positions in less liquid assets.
The modest inflow into HYPE ended the most difficult period for the fund since its launch. Nevertheless, I see this more as stabilization than the beginning of a new upward trend. The market still favors the "blue chips" of the crypto industry, and for sustainable growth of HYPE ETFs, not only a recovery in the token's price will be required, but also a return of risk appetite in the altcoin segment as a whole.