The two US-listed products tracking Hyperliquid’s native token recorded $26.4M in combined net outflows for the week of September 7-11, 2026, the latest in a string of losing weeks that has trimmed the funds’ cumulative gains considerably.
Who sold, and how much
Bitwise’s BHYP carried the heavier load of the selling pressure, accounting for $20.1M of the weekly outflow figure. 21Shares’ THYP contributed the remaining $6.3M.
The week of September 7-11 didn’t arrive in isolation. Over a 12-session stretch ending August 3, 2026, the two ETFs collectively shed $29.8M, suggesting the outflow pressure had been building for several weeks before the latest reported period.
Despite the recent bleeding, the cumulative picture still looks defensible on paper. Total net inflows since inception stand at roughly $330M, with combined net assets sitting at $430M, representing about 2.40% of HYPE’s total market capitalization.
