Hyperliquid (HYPE) spot ETFs returned to net inflows in the week ending August 7, adding $2.84 million after three straight weeks of redemptions. The flip ends the fund family's worst outflow run since launch and pushes cumulative net inflows to $280.8 million.
End of a three-week drain
The redemption streak totaled $30.6 million, with the heaviest week hitting $14.7 million in the period ending July 31. Bitwise's BHYP absorbed the largest share of those outflows.
JPMorgan strategist Nikolaos Panigirtzoglou tied the slowdown to competition, though he didn't specify which rivals were pulling money away.
The price backdrop
HYPE has been sliding alongside the fund flows. The token fell from the low $60s in late July to around $55 by early August. It now trades near $54.75, down roughly 3% on the day and about 29% below its June 16 record of $76.87.
A broad ETF rebound
The HYPE recovery came in a strong week for crypto funds overall. Combined weekly inflows across major products approached $1.1 billion in the week ending August 7.
Bitcoin ETFs led the charge with $853.5 million in inflows, reversing a $61.5 million outflow the prior week. Ethereum funds added $244.9 million, their strongest week since mid-April.
Smaller wrappers didn't share the momentum. Solana ETFs drew just $145,000, down from $7.2 million two weeks earlier. XRP funds added $1 million after a $14.9 million intake the week before.
Where the money went
Investors clearly favored the two biggest assets, funneling fresh cash into Bitcoin and Ethereum while trimming smaller altcoin wrappers. HYPE's $2.84 million is modest by comparison, but it breaks the losing streak.
The next weekly flow report will show whether the turnaround holds. With the token still a long way off its record high and competition cited as a factor, the pressure to keep the streak alive is real.
