Spot Hyperliquid exchange-traded fund (ETFs) (HYPE) posted its first weekly inflow since its launch in May.
Bitcoin (BTC) and Ethereum (ETH) funds moved in the other direction, attracting new capital for the second week in a row. This reversal came alongside a sharp decline in the price of the token.
HYPE ETF streak ends as majors recover
HYPE funds lost $7.26 million in the week ending July 17, according to SoSoValue data. This ended a streak of 9 consecutive weeks of streaming.
Reducing cumulative net flows 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 cryptocurrency funds moved in the opposite direction. Bitcoin ETFs attracted $75.67 million, the second positive week in a row after that 8 consecutive weeks of outflows.
Ethereum ETFs added $105.44 million, their strongest weekly gain since late April. XRP Money (XRP). He earned $6.78 million and Solana Products (SOL) raised nearly $1 million. Combined, the four main fund groups have attracted more than $188 million.
HYPE leads top 10 losses this week
Outflows from ETFs follow Level A Poor extension of code itself. HYPE’s value has fallen by more than 8% in the past week, making it the biggest loser among the top 10 cryptocurrencies.
The token fell below $60 last week. It is back above the level and is trading at $60.66. The selling also coincided with a broader risk-off move via altcoins last week. However, HYPE underperformed its total market cap, which remained roughly constant over the same period.
The return for ETF investors may depend on how the token maintains its current support. Next week’s flow data will show whether the flow is out It was a one-time thing or a start Of rotation away from HYPE.
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this post HYPE ETFs record first outflow since May, ending a 9-week streak appeared first on BeInCrypto.
