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

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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.

In contrast, bitcoin BTC$58,581.52 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!

Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead."

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.