Hyperliquid ETFs took in $4.3 million, their smallest week since launching in May, down from a record $111 million the week before.

BlackRock's IBIT was the only fund to see net outflows on Thursday, shedding $40.4 million and continuing its negative streak.

Thursday's inflows ended a run that drained $2.7 billion, but analysts warn one green day isn't necessarily a trend reversal.