US spot Bitcoin ETFs flipped October back into positive territory with $137 million inflows on Wednesday, bringing the three-day total to roughly $424 million after last week’s heavy outflows. At the same time, NYSE parent ICE partnered with Trade.xyz to launch regulated perpetual futures on Hyperliquid infrastructure, sending HYPE up over 3%.
The contrast is sharp: while Bitcoin sees fresh institutional demand and Hyperliquid gains TradFi validation, Ethereum continues its weakest October since 2018 with $1.35 billion in ETF outflows and large dormant-wallet transfers to exchanges. The market is clearly differentiating between assets right now.