HYPE Spot ETFs Log First Weekly Outflow Since May

Spot Hyperliquid (HYPE) exchange-traded products recorded their first weekly outflow since launching in May, according to CoinShares' weekly Digital Asset Fund Flows report.

The products shed $7.26 million in the week ending July 17, ending a run of nine consecutive weeks of inflows.

The withdrawal trimmed cumulative net inflows to $301.34 million from $308.6 million. Net assets under management fell 12.7% to $306.03 million, a steeper drop than the cash outflow alone would imply, reflecting mark-to-market losses as the token's price declined over the week.

Majors Draw Inflows

The week's outflow set Hyperliquid apart from the largest digital asset funds, which moved in the opposite direction over the same period.

Bitcoin (BTC) funds drew $75.67 million, a second straight positive week following eight consecutive weeks of outflows, per CoinShares. Ether (ETH) products added $105.44 million, XRP funds gained $6.78 million, and Solana (SOL) products collected close to $1 million.

Combined, the four leading fund groups pulled in more than $188 million for the week, indicating capital was rotating toward established names rather than exiting digital asset products broadly.

The fund outflow coincided with a decline in the token itself. HYPE fell more than 8% over the week, the largest drop among the top 10 cryptocurrencies by market capitalization, according to CoinGecko data. The token briefly slipped below $60 before recovering to the low-$60s.