HYPE Spot ETF Records Consecutive Net Outflows on September 8 and 9

HYPE spot ETFs recorded net outflows for two straight days on September 8 and 9, according to TradingBeats monitoring cited by BlockBeats. According to BlockBeats On-chain Detection, the outflows totaled about $18.25 million over the two days, with all of the September 9 outflow coming from Bitwise's BHYP. Weekly net inflows into HYPE spot ETFs had already slowed sharply before turning negative. Net inflows fell from about $56.9 million in the week of August 24 to 28 to about $12.3 million in the week of August 31 to September 4, a decline of 78.4%, before shifting to a single-day net outflow. As of September 9, cumulative historical net inflows into HYPE spot ETFs were still about $338 million, while total net assets stood at about $464 million. The article said recent incremental buying of HYPE through ETFs has moved from slowing growth to a phased withdrawal.