CoinEx News: Arkham monitoring cited on June 27 showed the 21Shares Hyperliquid ETF cut HYPE holdings for the first time, selling about $1.8 million of HYPE on June 26. The sale equaled roughly 3% of the ETF’s assets under management, making it a small but notable reversal after THYP launched on Nasdaq on May 12 with spot HYPE exposure and staking rewards.

For HYPE traders, the signal is not that institutional demand has flipped bearish: one $1.8 million sale is tiny beside HYPE’s roughly $14 billion market cap. It does put ETF wallet flows back on watch, especially if more issuers move from accumulation to periodic rebalancing.