Data compiled by Woofun AI shows that Hyperliquid-related ETFs accumulated $28 million in net inflows over the past three days. Bitwise's BHYP dominated this activity with $24.5 million, while HYPG and THYP contributed $2.2 million and $1.3 million, respectively. Since inception, cumulative net inflows for these products have reached $182.5 million.

Despite the strong aggregate figure, the pace of capital entry is decelerating. Daily net inflows retreated to $2.1 million on the last trading day, signaling a moderation in momentum.

Concurrently, HYPE spot demand remains active, with TWAP orders indicating an expected net purchase of approximately $9.3 million in the next 24 hours, largely driven by addresses linked to a16z.