JPMorgan says Hyperliquid ETF inflows have stalled as competition mounts

MarketsJPMorgan says Hyperliquid ETF inflows have stalled as competition mountsAfter leading crypto ETF inflows in May and June, demand for Hyperliquid funds stalled in July and August as competition intensified, the bank said.By Will Canny, AI Boost|Edited by Cheyenne Ligon Aug 6, 2026, 12:46 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowJPMorgan said inflows into Hyperliquid ETFs have largely stalled in July and August after a surge earlier this summer.The bank attributed the slowdown to rising competition from regulated crypto derivatives platforms and crowded prediction markets.Despite the recent pause, Hyperliquid’s HYPE remains one of the fastest-growing crypto assets, ranking fourth in corporate crypto treasury holdings.Inflows into Hyperliquid (HYPE) exchange-traded funds (ETFs) have largely ground to a halt after surging in May and June, reflecting growing concerns over the protocol's competitive outlook, according to Wall Street bank JPMorgan (JPM).The bank said Hyperliquid ETFs led non-bitcoin crypto funds in inflows relative to assets under management in May and June, though that momentum faded in July and early August.“We see significant challenges to the market share of decentralized platforms such as Hyperliquid,” analysts led by Nikolaos Panigirtzoglou said in a Thursday report.Hyperliquid has been one of crypto's biggest breakout stories this year, with its HYPE token surging as traders flocked to the protocol's decentralized perpetual futures exchange. The rapid growth has turned Hyperliquid into one of the largest crypto ecosystems outside bitcoin and ether, attracting institutional capital, corporate treasury buyers and ETF issuers.According to JPMorgan analysts, the cooling demand comes as decentralized derivatives platforms face mounting competition from regulated centralized exchanges. The report said the rollout of U.S.-regulated crypto perpetual futures …

JPMorgan says Hyperliquid ETF inflows have stalled as competition mounts

Coins in this story

Discussion

Related stories

Bitcoin, ether benefit as traders seek safety of largest tokens

Bitcoin’s low volatility doesn’t necessarily mean low risk

JPYC raises $38 million Series B led by major Japanese logistics firm AZ-COM Maruwa