XRP, HYPE ETFs see net inflows in June, bucking market trend

While U.S. spot crypto ETFs experienced massive outflows in June, XRP and Hyperliquid (HYPE) ETFs recorded net inflows, CoinDesk reported. According to data from SoSoValue, the XRP ETF attracted $59.4 million in June, marking its third consecutive month of net inflows, while the HYPE ETF brought in $161 million. In contrast, BTC ETFs saw over $4 billion exit, a record-high outflow. ETH and Solana (SOL) ETFs also saw outflows of $528.99 million and $786,000, respectively. CoinDesk suggested that the net inflows for the two products indicate that the spot prices of XRP and HYPE have significant room to rise if the broader market, including BTC, stabilizes. The profitability of the related exchange is also cited as a strength for HYPE. The decentralized exchange Hyperliquid recorded over $80 million in fees in the last 30 days, ranking third among all protocols after Tether and Circle, according to DeFiLlama.