HYPE ETFs Attract $605,000 as Bitcoin and Ethereum See Outflows
The small inflow into U.S. HYPE spot ETFs stood out next to heavy outflows in Bitcoin and Ethereum, even as the funds remain net negative.
Key Takeaways
- U.S. spot Hyperliquid ETFs recorded about $605,000 in net inflows on November 3, while Bitcoin and Ethereum ETFs saw outflows instead.
- The HYPE inflow followed a $2.86 million loss a day earlier and still leaves the funds with a negative balance for the week.
- Bitcoin ETFs lost $115.56 million and Ethereum ETFs $85.35 million, giving Ethereum seven straight outflow days.
U.S. spot Hyperliquid ETFs pulled in about $605,000 (€541,200) in net inflows on November 3, while Bitcoin and Ethereum ETFs saw heavy outflows instead. The HYPE inflow was small compared with the outflows in the two biggest crypto assets, but it still stood out because no other U.S. crypto ETF group posted net inflows that day.
HYPE Can't Keep the Momentum Going
The inflow came one day after the HYPE funds lost $2.86 million (€2.6 million) on November 2. That means the funds are still in the red for the week so far. Over the past 30 days, the total comes to $45.07 million (€40.3 million) in net outflows, while cumulative inflows had still peaked at $356.58 million (€319 million) on September 4.
The numbers also show that investors are not moving from Bitcoin and Ethereum into HYPE in a big way. The HYPE funds pulled in about $1 (€0.89) for every $330 (€295) that left Bitcoin and Ethereum ETFs. That makes the inflow look more like a small counter-move within a broader stretch of caution around major crypto funds. Earlier, the first weekly outflow since May had already marked a clear break in the positive momentum around these funds.
Bitcoin and Ethereum Stay Weak
Bitcoin ETFs lost $115.56 million on November 3 and Ethereum ETFs lost $85.35 million (€76.3 million). For Ethereum, that is part of a longer streak of outflow days. The funds have now seen net outflows for seven trading days in a row, totaling $656.68 million (€587 million). The last inflow day for Ethereum was on October 23.
That ongoing outflow matters for the crypto market because spot ETFs hold the underlying tokens. When investors buy new shares, the fund has to buy more Bitcoin, Ethereum, or HYPE to back those shares. When money flows out, the opposite happens and the fund’s holdings shrink.
What This Says About HYPE
HYPE traded around $84.10 (€75), up 1.09% over the past 24 hours. That still leaves the token about 14% below its all-time high of $97.96 (€88), set on September 23. Together, the HYPE ETFs manage about 2.11% of the token’s market value, compared with 6.38% for Bitcoin funds and 4.78% for Ethereum funds.
For European readers, the main point is that HYPE flows are still small compared with the big U.S. spot ETFs. Daily trading volume in HYPE ETFs came in at $13.55 million (€12.1 million), more than 22 times the net inflow. That shows there is a lot of trading in the funds, but not all of that trading is bringing new money into the market.