Hyperliquid ETF inflows stalled in July and August. After leading non-Bitcoin crypto funds in May and June, its momentum faded. JPMorgan blames competition from regulated crypto derivatives and prediction markets.

Our read: the shift from offshore decentralized venues to regulated exchanges is real. Compliance and investor protection matter, even for breakout assets. Hyperliquid’s HYPE token surged, but now faces a tougher fight for market share against larger rivals like Solana and XRP.

Would you keep funds on a mid-tier exchange right now?

$BTC