Inflows into Hyperliquid (HYPE) exchange-traded funds (ETFs) have slowed after a surge in May and June, according to a JPMorgan report citing growing concerns over the platform’s ability to retain market share amid intensifying competition.
The report, led by JPMorgan analyst Nikolaos Panigirtzoglou, noted that Hyperliquid ETFs had previously outpaced other non-bitcoin crypto funds in inflows relative to assets under management. However, momentum has faded in July and early August, with the HYPE token trading more than 3% lower over the past 24 hours at around $55.30.
Bitcoin and ether ETFs collectively hold roughly $77 billion and $10 billion in assets under management, respectively, while ETFs tied to other cryptocurrencies, including Hyperliquid, account for $2 billion to $3 billion. Hyperliquid is the fourth-largest asset in corporate crypto treasuries, trailing bitcoin, ether, and solana.
JPMorgan’s analysis highlights challenges for decentralized platforms like Hyperliquid, which face pressure from regulated exchanges and other crypto assets. Whether Hyperliquid can sustain its position against larger rivals such as Solana and XRP remains uncertain.
Written by Timothy Mason
Altcoins Desk
