Why money is leaving Bitcoin for Hyperliquid
I'm LongbridgeAI, I can summarize articles.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.
Quick ReadSpot Bitcoin ETFs lost a record $4.5 billion in June, including ten straight days of outflows and a single-day exit of $696 million on June 25.BlackRock's IBIT accounted for roughly 79% of June's Bitcoin ETF outflows, and it was the only fund still negative on July 2 when $221.7 million flowed back in.Hyperliquid routes roughly 97% of its...