Spot hyper liquid ($HYPE) The exchange-traded product recorded its first weekly outflow since its launch in May, according to CoinShares’ weekly digital asset fund flow report.
The product declined $7.26 million in the week ended July 17, ending nine consecutive weeks of inflows.
With the withdrawal, cumulative net inflows decreased from $308.6 million to $301.34 million. Net assets under management decreased 12.7% to $306.03 million, reflecting market value losses due to the decline in token prices over the past week, and was a larger decline than cash outflows alone would indicate.
Attract major inflows
This week’s outflows set it apart from the largest digital asset funds, which moved in the opposite direction over the same period.
According to CoinShares, Bitcoin (BTC) funds raised $75.67 million, marking the second consecutive week of positive outflows following eight consecutive weeks of outflows. Ether (ETH) products added $105.44 million, XRP funds garnered $6.78 million, and Solana (SOL) products raised nearly $1 million.
Together, the four largest fund groups raised more than $188 million during the week, indicating capital is being rotated towards established names rather than a broader exit from digital asset products.
The outflow coincided with a decline in the token itself. $HYPE It fell more than 8% over the week, the biggest decline among the top 10 cryptocurrencies by market capitalization, according to CoinGecko data. The token briefly fell below $60, but has since recovered to the low $60s.
