Even as billions of dollars exit major crypto investment products, Hyperliquid’s HYPE token has remained resilient despite heavy withdrawals from U.S. spot bitcoin and ethereum ETFs, according to Coinshares.
Key Takeaways
U.S. spot bitcoin ETFs have recorded eight consecutive weeks of outflows, with more than $6.5 billion leaving since May, while HYPE has remained resilient.Three U.S. spot HYPE ETFs give investors brokerage-accessible exposure to Hyperliquid’s native token.Coinshares says Hyperliquid’s tokenomics are resonating with investors as platform fees support systematic HYPE buybacks.Despite those headwinds, Hyperliquid has remained resilient, he described, adding:
“Against these tough market conditions, Hyperliquid (HYPE) continues to trade near its all-time high.”
According to fund tracking data from SoSoValue and Farside Investors, outflows picked up sharply over two consecutive months. In May 2026, redemptions totaled about $2.43 billion. That figure surged in June 2026, which saw a record monthly net outflow of $4.06 billion.
What Is Driving Investor Interest in HYPE?HYPE-focused ETFs have recorded inflows every week since launching in May, according to Coinshares. The products attracted roughly $161 million in June, bringing assets under management across the three U.S.-based funds to about $336 million. European HYPE investment products now manage more than $55 million.
“This is a strong signal that Hyperliquid’s tokenomics are resonating with investors. Using 99% of platform fees to systematically buy back HYPE creates a direct link between protocol activity and token demand, giving the asset a value-accrual mechanism that stands out in the current market.”
