Hyperliquid ETF Nets $605,000 as Bitcoin and Ethereum Funds Lose $115.56M and $85.35M

SoSoValue data indicate no other category of US crypto ETFs saw net inflows that day. Still, the HYPE inflow covered less than 1% of the amounts that left Bitcoin and Ethereum funds.

Hyperliquid Funds See Inflow After Period of Outflows

According to SoSoValue, the HYPE ETF net inflow on November 3 came one session after the funds shed $2.86 million on November 2. Consequently, HYPE funds stay net negative for the week thus far.

Over the past 30 days, net outflows from HYPE ETFs have totaled $45.07 million. The cumulative net inflows of the funds peaked at $356.58 million on September 4.

The data does not point to investors shifting capital from the largest coins into HYPE. For each $330 that exited Bitcoin and Ethereum ETFs, HYPE ETFs drew in about $1.

Meanwhile, Ethereum ETF outflows have persisted for seven straight trading days, reaching $656.68 million. The previous inflow into an Ethereum fund occurred on October 23.

These flows are linked to price through the funds' holdings, where HYPE holders feel the impact.

HYPE Price Creeps Up as Fund Assets Recover

HYPE was trading at $84.10 at press time, up 1.09% over the previous 24 hours, per BeInCrypto Markets. The token is roughly 14% off its all-time high of $97.96, set on September 23.

Spot HYPE ETFs directly hold the actual token. Purchases of new fund shares result in additional HYPE being bought to back them. Redemptions cause the fund's HYPE holdings to decrease.

HYPE ETF assets account for about 2.11% of the token's $20.04 billion market cap, according to SoSoValue. Bitcoin and Ethereum funds hold 6.38% and 4.78% of their respective markets. At that scale, the November 3 inflow represents roughly 0.003% of HYPE's market value.

Net assets in HYPE ETFs rose from $412.02 million to $423.04 million on November 3. New inflows accounted for only $605,000 of that $11.02 million increase. The remainder likely stems from the token's price movement.

HYPE ETFs also transacted $13.55 million in shares that day, about 22 times the net inflow. Most of that volume comes from shares trading on exchanges rather than new capital entering the funds.

For HYPE holders, the flow trend is more instructive than any single day's data. HYPE ETFs have not posted back-to-back inflow days since October 1-2. A second consecutive inflow day would break that pattern.