XRP, HYPE funds are the bright spots as investors flee bitcoin, ether ETFs

XRP and Hyperliquid’s HYPE have emerged as notable bright spots amid record outflows from U.S. spot crypto exchange-traded funds (ETFs).

XRP-linked ETFs added $59.4 million in June, a third straight month of net inflows, albeit at a slower pace than during the previous two months, according to SoSoValue data. HYPE funds notched up $161 million in net inflows during the month.

Incontrast, bitcoin BTC $ 58,580.68 ETFs suffered record outflows of more than $4 billion, ether (ETH) ETFs saw $528.99 million in outflows and solana (SOL) ETFs shed $786,000.

The positive flows into both XRP and HYPE funds signal potential for significant spot price appreciation, particularly if bitcoin and the broader market stabilize.

HYPE also has support at the fundamentals level. Its parent, the decentralized exchange Hyperliquid, generated just over $80 million in fees over the past 30 days, according to DefiLlama. This places it third among all protocols and behind only stablecoin giants Tether ($486.9 million) and Circle Internet ($184.07 million).

Speaking of potential for market stability, July offers hope. According to Alex Kuptsikevich, the chief market analyst at the FxPro, July tends to be a positive month for the largest cryptocurrency.

"Over the past 15 years, bitcoin has ended the month higher on ten occasions and lower on five. The average gain was 19%, while the average decline was 7.8%," he said in an email.

Still, history is no guide to future performance and seasonality alone may not be enough and strong inflows into spot ETFs may be needed to lift BTC. Stay alert!

What’s trending

Summary

Bitcoin’s 20% June crash looks even deadlier on the charts. Here’s why (CoinDesk): Bitcoin’s June candlestick looks like a solid red brick with virtually no wicks, a clear sign of uninterrupted bear dominance throughout the month and a warning that more losses could happen in the weeks ahead.
World shares ease, yields rise as yen hits 40-year low (Reuters): Equities around the world started the quarter cautiously ahead of key U.S. jobs data, as uncertainty over U.S.-Iran negotiations remained and traders watched for possible Japanese intervention in forex markets after the yen hit a 40-year-lows.
Gold prices fall further after worst quarter in 13 years as interest rate fears hit bullion (CNBC): Gold prices fell further, after the precious metal closed its worst quarter in 13 years. Gold futures slipped 1.24% to $3,989.00.
Trump pocketed more than $1 billion from crypto ties as industry headed toward slump (CoinDesk): President Donald Trump earned more than $1 billion from crypto sales and royalties last year while living in the White House and pursuing pro-crypto policies in his administration.

Today’s signal

Need evidence of just how unpopular store-of-value assets are right now? Check out the SPDR Gold Shares ETF, the largest in the world.

Its price is slipping into a death cross, with the 50-day moving average crossing below the 200-day average. This indicator is widely viewed as a signal of long-term pain.

BlackRock's bitcoin ETF (IBIT) slipped into its own death cross in December and has since fallen by 35%.

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