HYPE Price Rises, No Inflows to ETF

The price of HYPE is increasing, despite the fact that the HYPE ETF has recorded no capital inflows for five trading sessions. From August 11 to 14 and on August 17, all three products, 21Shares THYP, Bitwise BYHP, and Grayscale HYPG, had zero net flows. Previously, on August 5, the HYPE ETF gained $1 million, and the next day $2.8 million. The total balance stands at +$3.8 million, however, the performance of individual funds varies. Bitwise BHYP has $5.4 million in positive flows, while 21Shares THYP has -$1.8 million. Despite the lack of new capital, the price of HYPE hovers around $60. The fundamentals of the protocol, including the development of trading in derivatives and RWA, are attracting attention. In the second quarter, contracts related to real-world assets accounted for 32.2% of the volume, and the protocol generated $169 million, of which $141 million was allocated for buybacks of HYPE tokens. However, the absence of new funds in the ETF may be a warning signal for a potential correction.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.