JPMorgan analyzed that fund inflows into the Hyperliquid (HYPE) spot ETF surged in May-June but slowed down in July and early August. This is explained as a result reflecting market concerns about Hyperliquid's future competitiveness. According to CoinDesk, JPMorgan stated in a report that while the Hyperliquid ETF recorded the highest performance among virtual asset funds excluding Bitcoin based on the fund inflow ratio to assets under management (AUM) in May and June, this trend weakened in July and early August. It also predicted that "decentralized trading platforms, including Hyperliquid, will face considerable difficulties in securing market share in the future."