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According to data from Trader T (@thepfund), Bitcoin spot ETFs saw a net outflow of $425 million yesterday, marking one of the larger single-day net outflows recently. Major Outflows: • $IBIT (BlackRock): Outflow of $185 million • $FBTC (Fidelity): Outflow of $246 million • $GBTC (Grayscale): Outflow of $53.06 million Major Inflows: • $BTC (Grayscale Mini): Inflow of $53.38 million • $HODL (VanEck): Inflow of $6.14 million Products under Bitwise, Ark, Invesco, Franklin, Valkyrie, Morgan Stanley, WisdomTree, etc. all recorded zero net flow for the day.
Odaily Bitcoin has been declining since October last year, with its current price hovering around half of its all-time high of $126,000, indicating the market remains in a deep bear phase. Multiple industry analysts believe the current pressure on Bitcoin stems primarily from three factors: the four-year cycle, macroeconomic inflationary pressures, and market leverage liquidations.Matt Hougan, Chief Investment Officer at Bitwise, stated that Bitcoin's long-standing "four-year cycle" continues to influence investor psychology. Historically, Bitcoin typically undergoes approximately three years of an upward cycle followed by a one-year correction period. Investors have developed cyclical expectations and began reducing some long-term holdings towards the end of 2025.Additionally, the macroeconomic environment is a significant drag on Bitcoin. Zach Pandl, Head of Research at Grayscale, pointed out that rising inflationary pressures in the US have weakened market expectations for interest rate cuts. Investors are shifting towards higher-yielding traditional assets, leading to capital outflows from risk assets, including cryptocurrencies. The short-term bottom is estimated to be around $58,000, with future trends still influenced by interest rate policies, corporate Bitcoin buying behavior, and progress in US crypto regulatory legislation.Excessive market leverage has also exacerbated this correction. As a large number of investors expanded their Bitcoin exposure through borrowing and financing during the bull market, derivatives open interest has declined as the market weakened. Digital asset treasury companies have also come under pressure. Strategy's stock price has fallen approximately 75% since October last year, and its previously promoted model of corporate Bitcoin accumulation is facing renewed market scrutiny.However, some analysts remain optimistic about Bitcoin's prospects. Adrian Fritz, Chief Investment Strategist at 21Shares, predicts that Bitcoin may bottom out this summer, rebound after interest rates shift towards easing and geopolitical conflicts ease, with a year-end price target of $100,000. (Fortune)
According to data from Trader T (@thepfund), Ethereum spot ETFs saw a net outflow of $52.05 million yesterday, with Fidelity (FETH) outflowing $33.96 million, BlackRock (ETHA) $12.67 million, Bitwise (ETHW) $2.75 million, and BlackRock Staked (ETHB) $2.68 million.
According to data from Trader T (@thepfund), Bitcoin spot ETFs recorded a total net inflow of $265.68 million yesterday. Among them, BlackRock's IBIT led with a net inflow of $209.39 million; Ark's ARKB had a net inflow of $32.98 million, Grayscale Bitcoin Mini Trust had a net inflow of $42.25 million, Morgan Stanley's MSBT had a net inflow of $10.96 million, Fidelity's FBTC had a net inflow of $9.71 million, and Bitwise's BITB had a net inflow of $4.84 million.
According to data from Trader T (@thepfund), Ethereum spot ETFs saw a net inflow of $29.1 million yesterday. BlackRock ETHA: +$29.74 million (largest inflow of the day) • VanEck ETHV: +$1.24 million • Fidelity FETH: +$850,000 • BlackRock ETHB (Staking Version): +$20,000 • Grayscale ETHE: -$2.75 million (only product with outflow) • Other products (Bitwise, 21Shares, Invesco, Franklin, Grayscale Mini): No fund changes for the day
According to Trader T (@thepfund) data, Bitcoin spot ETFs recorded a net inflow of $221.72 million yesterday, following 10 consecutive trading days of net outflows. Performance of each product is as follows: • Fidelity FBTC: +$165.96 million (largest inflow of the day) • Ark ARKB: +$91.84 million • VanEck HODL: +$4.35 million • BlackRock IBIT: -$40.43 million (counter-trend outflow) • Other products (Bitwise, Invesco, Franklin, Valkyrie, WisdomTree, Grayscale, Morgan Stanley): No fund changes for the day
According to Trader T (@thepfund), Bitcoin spot ETFs recorded a net outflow of $296 million yesterday. On the outflow side: BlackRock $IBIT saw an outflow of $219 million, Grayscale $GBTC saw an outflow of $62.79 million, Fidelity $FBTC saw an outflow of $51.02 million, and Ark $ARKB saw an outflow of $39.90 million. On the inflow side: Grayscale Mini $BTC saw an inflow of $36.33 million, Morgan Stanley $MSBT saw an inflow of $29.81 million, Invesco $BTCO saw an inflow of $5.37 million, Franklin $EZBC saw an inflow of $3.48 million, and VanEck $HODL saw an inflow of $2.13 million. Bitwise $BITB, Valkyrie $BRRR, and WisdomTree $BTCW had zero inflows and outflows for the day.
According to data from Trader T (@thepfund), yesterday’s spot Bitcoin ETFs recorded a net outflow of $469 million—significantly higher than the previous day’s net outflow of $114 million on June 23. Specifically, BlackRock’s IBIT saw an outflow of $239 million, Fidelity’s FBTC an outflow of $121 million, Grayscale’s GBTC an outflow of $54.34 million, Ark’s ARKB an outflow of $50.66 million, and Bitwise’s BITB an outflow of $27.53 million. Only Grayscale Mini BTC posted a net inflow of $23.56 million; all other products registered zero net flow for the day.
According to data from Trader T (@thepfund), yesterday’s Ethereum spot ETFs recorded net inflows of $9.61 million. BlackRock’s $ETHA was the largest contributor, with single-day inflows of $17.34 million. Bitwise’s $ETHW saw outflows of $3.47 million and Fidelity’s $FETH experienced outflows of $2.23 million, partially offsetting the gains.
According to data from Trader T (@thepfund), yesterday’s Ethereum spot ETFs recorded net inflows of $22.58 million, a marked improvement from the $4.93 million net outflow on June 12. Among them, BlackRock’s ETHA saw inflows of $17.62 million—accounting for over 70% of total inflows—and delivered the strongest performance. Grayscale’s mini-ETH ETF recorded inflows of $3.12 million, while Grayscale’s ETHE saw $1.77 million in inflows. Fidelity’s FETH, Bitwise’s ETHW, 21Shares’ TETH, Invesco’s QETH, Franklin Templeton’s EZET, and VanEck’s ETHV all registered zero inflows on the day.
According to The Block, approximately one month after the launch of the first spot HYPE ETFs, the cumulative trading volume across three issuers—21Shares (THYP), Bitwise (BHYP), and Grayscale (HYPG)—has approached $900 million, with net inflows reaching $153 million, reflecting strong institutional allocation intent. All three products hold HYPE tokens directly and pass through staking rewards to investors. The current annualized staking reward rate is approximately 2.25%, accrued per minute, distributed daily, and automatically compounded. Currently, about 45% of the stakable supply—approximately 434 million HYPE tokens—is staked.
approximately one month after the launch of the first spot HYPE ETFs, early trading data has been robust, indicating demand from institutional investors for Hyperliquid-related exposure.Currently, three issuers offer HYPE investment products through regulated brokerage channels, including 21Shares' THYP, Bitwise's BHYP, and Grayscale's HYPG. The cumulative trading volume for these three products since their launch has neared $900 million, with net inflows reaching $153 million.However, trading activity is not evenly distributed among the products. BHYP and THYP account for the majority of the volume, while the later-launched HYPG is still in its volume ramping phase.Unlike some tokens that primarily rely on speculative demand, HYPE's value proposition is more directly linked to Hyperliquid's trading activity. Approximately 97% of Hyperliquid's transaction fees flow into the Assistance Fund, creating a linkage between trading volume and token demand through an automatic buyback mechanism.
According to SoSoValue data, during last week's trading days (June 8 to June 12, Eastern Time), the HYPE spot ETF recorded a net inflow of $5.8662 million.The HYPE spot ETF with the largest net inflow last week was the Bitwise ETF (BHYP), with a weekly net inflow of $3.6164 million. BHYP's total historical net inflow currently stands at $93.11 million. This was followed by the Grayscale ETF (HYPG), with a weekly net inflow of $2.2499 million, bringing its total historical net inflow to $6.95 million.As of press time, the total net asset value of HYPE spot ETFs is $173 million, with an ETF net asset ratio (market cap as a percentage of HYPE's total market cap) of 1.28%. The historical cumulative net inflow has reached $155 million.
According to data from Trader T (@thepfund), Bitcoin spot ETFs recorded a net inflow of $2.69 million yesterday, ending a 13-day streak of net outflows (totaling approximately $4.37 billion). BlackRock’s $IBIT saw a single-day inflow of $47.3 million, and Morgan Stanley’s $MSBT recorded an inflow of $9.87 million—making them the primary contributors. Meanwhile, ARK’s $ARKB experienced an outflow of $20.72 million, Bitwise’s $BITB an outflow of $15.57 million, and Invesco’s $BTCO an outflow of $12.65 million; all other products saw zero net fund flows.
According to The Block, Bitwise CIO Matt Hougan noted in his latest weekly report that as the Nasdaq-100 Index has surged 43% year-to-date and AI-related stocks continue attracting capital, the crypto market is undergoing a shift—from “momentum trading” to “contrarian bets.” Investors must adopt a long-term perspective and focus on fundamentals. Hougan also observed that during this crypto winter, capital has not flowed into mainstream safe-haven assets like Bitcoin; instead, it has poured into mid- and small-cap tokens with distinctive narratives—such as Hyperliquid (up 72% month-to-date), Zcash (up 50%), and Stellar (up 44%). Additionally, he emphasized that uncertainty surrounding the Clarity Act—a proposed legislative framework for crypto market structure—remains a key constraint on institutional capital inflows. Galaxy analysts and Polymarket both estimate the bill’s passage probability at roughly 50–55%. A sustainable rally in major crypto assets may only materialize after the legislation is enacted.
According to The Block, Grayscale filed an amendment to its S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on Monday for the Hyperliquid Staking ETF (ticker: HYPG), setting its management fee at 0.29%—lower than the already-listed Bitwise BHYP (0% for the first month, then 0.34%) and 21Shares THYP (0.30%). James Seyffart, ETF analyst at Bloomberg Intelligence, stated that the fund is expected to officially launch this week. Hyperliquid is a decentralized derivatives exchange supporting on-chain perpetual contract trading; its native token, HYPE, has a market capitalization of approximately $16.1 billion, ranking it as the world’s tenth-largest crypto asset.
Grayscale has submitted an amended S-1 filing for its Hyperliquid Staking ETF, proposing a management fee of 0.29% under the ticker HYPG. This fee is lower than that of competitors Bitwise and 21Shares, which have already launched similar products. Specifically, Bitwise's BHYP has a 0% fee for the first month, followed by 0.34%, while 21Shares' THYP charges 0.30%.Bloomberg ETF analyst James Seyffart said the fund is expected to launch as early as this week. If successful, HYPG will become the third Hyperliquid-related ETF.
According to Hyperinsight monitoring data, the Hyperliquid ETF recorded a single-day net inflow of $20.4 million, with BHYP accounting for $19 million and THYP for $1.4 million. Since its launch, this ETF category has achieved net inflows for 15 consecutive days, totaling $101 million. Institutional allocation demand continues to intensify, potentially driving Hyperliquid’s TVL to a new six-month high. It is reported that 21Shares launched THYP on May 12 (UTC), making it the first to enter the market, while Bitwise launched BHYP on the evening of May 15 (UTC). Following the sequential listing of these two ETFs, overall trading activity in the sector has continued to heat up. Notably, BHYP’s current daily trading volume has expanded approximately 13.6-fold from its debut-day volume of $1.3 million.
a report released by FalconX shows that the crypto derivatives platform Hyperliquid is expanding from perpetual contracts to pre-IPO trading, prediction contracts, and tokenized real-world assets, beginning to compete with traditional exchanges and prediction market operators. The report indicates that Hyperliquid's HIP-3 market allows users to trade stocks, commodities, forex, and pre-IPO contracts 24/7, with traders already using it for pre-IPO speculation on companies such as Cerebras, Anthropic, and SpaceX. The HIP-4 outcome market allows traders to place binary bets on political, economic, and crypto events.In terms of capital inflows, the HYPE spot ETFs launched by 21Shares and Bitwise have attracted a combined $53 million in inflows within just a few trading days. Hyperliquid's USDC partnership with Coinbase and Circle is expected to generate up to $160 million in annual protocol revenue. FalconX warns that CME and ICE have expressed concerns to regulators about potential market manipulation risks on the Hyperliquid market. Nevertheless, Hyperliquid continues to lead the decentralized perpetual contract market in terms of trading volume, revenue, and total value locked. (CoinDesk)
Bitwise's Hyperliquid ETF (BHYP) reached $30.5 million in assets under management within its first five trading days, with net inflows of $26.9 million. (Cointelegraph)