Bitcoin, Ethereum ETFs Shed $112M as HYPE ETFs Rally

Bitcoin and Ethereum exchange-traded funds recorded $112 million in net outflows on Monday, with Bitcoin ETFs losing $105.2 million and Ethereum ETFs $6.7 million, according to SoSoValue data. CoinShares reported digital-asset investment products had $1.47 billion in outflows last week, the third-largest weekly total of 2026. Bitcoin-focused funds accounted for $1.315 billion of last week’s outflows, the largest weekly loss of the year, while Ethereum products shed $223 million. Outflows were reported in markets beyond the U.S., including Switzerland, Canada and Hong Kong.

Tim Sun, senior researcher at HashKey Group, attributed the ETF selling to recent price moves and higher Treasury yields. He noted Bitcoin has fallen below the average purchase price of the ETFs, which has triggered selling pressure, and added the upward shift in the U.S. Treasury yield curve has reduced appetite for arbitrage capital. Options data show investors are buying downside protection and trimming exposure rather than placing large directional bets.

Two Hyperliquid-linked ETFs have posted net inflows for eight consecutive trading days. The funds added $10.95 million on Monday and $25.5 million over the past week. The inflow streak began May 13 with a $1.17 million addition and included daily inflows ranging from about $4.4 million to $25.5 million.

Hyperliquid’s native token HYPE reached an intraday high of $64.21 on Sunday. Available measures show the token has gained more than 100% year-to-date and roughly 50% in the past month. Users on a prediction market pushed the probability that HYPE would reach $52 in May to about 85%, up from 14% on May 15; intraday quotes placed HYPE near $51.26.

Institutional backing has supported HYPE flows. Bitwise’s Hyperliquid ETF (ticker BHYP) committed to allocate 10% of its management fees to buy and hold HYPE on the company’s balance sheet.

Regulatory and market infrastructure firms have voiced concerns about Hyperliquid. Tim Sun noted the CME Group and Intercontinental Exchange have urged Congressional scrutiny, adding regulatory pressure is increasing even as trading volumes draw institutional attention.

Market signals shifted alongside price moves. Users of a prediction market reduced the chance that Bitcoin will retest $84,000 to about 74% from 86% on May 14 after the token slid from roughly $81,700 to about $74,500 during a recent weekend. Bitcoin traded around $76,700, down roughly 0.7% over 24 hours.