Funds on Hyperliquid (HYPE) have turned to inflows: ending a three-week streak of outflows
Spot exchange-traded funds on Hyperliquid (HYPE) finally showed a shift in sentiment: in the week ending August 7, products attracted $2.84 million in net inflows. This is the first positive result after three consecutive weeks of investor withdrawals. Cumulative inflows since these ETFs launched have now reached $280.8 million.
Reversal after a period of weakness
The outflow trend was persistent and raised questions among institutional players. Over three weeks, $30.6 million left HYPE funds, with the peak of pressure occurring between July 27 and 31, when outflows totaled $14.7 million. The main source of negativity was Bitwise BHYP — this fund recorded the most significant negative result over the period in question.
Interestingly, capital dynamics fully mirrored the movement of the token's price itself. In late July, HYPE began declining from a level just above $60, and in the first days of August dropped to $55. At the time of my analysis, the asset was trading around $54.75, losing roughly 3% in a day and nearly 29% from its all-time high of $76.87 set on June 16. Such a correlation between ETF flows and price is a classic sign that institutional investors are not yet ready to aggressively build positions in this asset.
Market context: capital is flowing into "blue chips"
HYPE's recovery coincided with the return of large capital to all major crypto funds. In the week from August 3 to 7, total inflows across the segment approached $1.1 billion. Bitcoin funds attracted $853.5 million, fully offsetting the $61.5 million outflow a week earlier. Ethereum funds added $244.9 million — the best result since mid-April.
However, altcoins other than HYPE look far more modest. Solana funds received just $145 thousand compared to $7.2 million two weeks earlier, and XRP products saw $1 million after $14.9 million in inflows. Clearly, investors are concentrating fresh capital in Bitcoin and Ethereum, trimming positions in less liquid and more volatile assets.
My conclusion: the return of inflows into HYPE is more of a technical bounce than a shift in the long-term trend. As long as the token's price continues to remain under pressure and shows no sustained recovery, institutional interest in this product will stay limited. The key signal for renewed growth is HYPE holding above the $60 level, which would confirm a change in sentiment among both retail and institutional participants.