Why money is leaving Bitcoin for Hyperliquid
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In June, spot Bitcoin ETFs experienced record outflows of $4.5 billion as investors sought yield in a high-rate environment. Conversely, new Hyperliquid (HYPE) ETFs attracted $161 million, marking eight consecutive weeks of inflows. This divergence stems from HYPE's mechanism of using platform fees for automatic token buybacks, offering intrinsic value unlike Bitcoin's passive price appreciation model.
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