JPMorgan says Hyperliquid spot ETF inflows have stalled after about $280 million through June
AI Market Summary
JPMorgan says inflows into Hyperliquid's spot ETFs have stalled after strong May–June accumulation (~$280m), flipping to July net outflows (>$13m) and a 12-session $29.8m drawdown through Aug 3. The bank attributes the reversal to rising competitive risk as newly regulated US perpetual futures venues pressure decentralized derivatives platforms, with prediction-market diversification also facing crowding. Near-term, flow dynamics and competitive positioning become key drivers of HYPE sentiment.
Impact level
● Medium
Affected assets
HYPE/USDT-0.37%
AI Insight · HYPE/USDTAI Insight
▼ Bearish
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JPMorgan said inflows into Hyperliquid (HYPE) spot ETFs have largely stopped, ending a two-month stretch in which the funds led non-bitcoin crypto ETF categories on an inflows-to-assets basis. The bank’s analysts estimated HYPE ETFs drew about $280 million cumulatively through June before reversing, with July posting more than $13 million in net outflows. They also cited a run of $29.8 million in outflows over twelve consecutive sessions through August 3. JPMorgan tied the shift to intensifying competition from newly regulated, U.S.-based perpetual futures platforms.
