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Hyperliquid’s ETF Inflow Streak Fizzles as Regulated Rivals Move In, JPMorgan Warns

JPMorgan analysts report that Hyperliquid's strong ETF inflow streak has ended, citing increased competition from regulated centralized exchanges offering similar derivatives products. While Hyperliquid has been a standout performer in non-bitcoin crypto funds, the bank warns of significant challenges to its market share. The report suggests focusing on fee revenue rather than ETF headlines to gauge the platform's future performance.

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