Hyperliquid ETF Outflows Reach $17.5M In A Week, Up From $9.4M

Spot Hyperliquid funds saw money leave faster this week than last. Farside Investors shows $17.5 million of net outflows across the three US products for October 12 to 16, up from $9.4 million the week before. The Hyperliquid ETF outflows came after a first week of September 28 to October 2 that ended slightly positive, at $3.4 million.

Farside's Hyperliquid ETF flow table, with BHYP, THYP and HYPG in US$ millions. Source: Farside Investors.

Three weeks of Hyperliquid fund flows

The pattern is a slide, and the Hyperliquid ETF outflows have grown each week. Week one, ending October 2, took in $3.4 million. Week two lost $9.4 million, most of it on October 8 when 21Shares' THYP saw $9.7 million go out in a single day. Week three lost $17.5 million, and none of it was offset by an inflow.

Count the days and the picture is just as lopsided. Of the 15 sessions in the table, six ended with net outflows that add up to $34.9 million. Three had inflows worth $11.4 million, and six were flat at zero. Total for the three weeks is a net outflow of $23.5 million. The whole table still shows $325 million of net inflows since launch, so the recent selling is about 7% of that.

Who sold in the Hyperliquid ETF outflows

THYP carried the most of the latest week at $8.5 million. Bitwise's BHYP lost $6.4 million and Grayscale's HYPG $2.6 million. Wednesday, October 14, was the first day in the whole window when all three funds posted outflows together, for $4.9 million.

Thursday was the biggest day for fund selling, with $10.3 million out. THYP accounted for $7.1 million, BHYP for $2.3 million and HYPG for $0.9 million. It topped the October 8 figure and marked the largest daily outflow anywhere in the window shown.

Where each Hyperliquid ETF stands

The running totals differ widely. Grayscale's HYPG sits at $153.1 million, Bitwise's BHYP at $137.9 million and THYP at $34.1 million. THYP is the smallest of the three but the biggest seller recently. That makes it the fund to watch, since one large THYP day can move the weekly total on its own.

The fee column shows BHYP at 0.34%, THYP at 0.30% and HYPG at 0.29%. Farside lists a 25% staking fee for BHYP and HYPG, and THYP's is marked undisclosed.

HYPE price over the same window

HYPE closed at $90.97 on Binance on September 30 and at $80.35 on October 16, a slide of about 12%. The token's best close in that stretch was $94.18 on October 5, which was also the day THYP lost $2.7 million. On October 17 it traded near $78.

Each fund's own page lists its holdings, and readers can check the daily numbers against those pages. The price and the fund flows come from separate public pages, and nothing on either one ties the two together. Daily figures are revised from time to time, so read these as of October 16. This article reports fund data and is not investment advice.