Funds including Grayscale Hyperliquid Staking ETF (HYPG), Bitwise Hyperliquid ETF (BHYP), and 21Shares Hyperliquid ETF (THYP) initially performed well, with HYPG nearing $113 million in AUM and the latter two combined exceeding $150 million. However, this momentum has waned due to increased competition in the perpetual futures (perps) trading market, particularly from centralized exchanges. JPMorgan notes that traders may prefer regulated platforms in the U.S., a criteria Hyperliquid does not meet. Despite this, the article suggests that Hyperliquid's future growth could be driven by the prediction market sector, which Macquarie projects to reach $1.5 trillion in volume by 2030, and recent updates allowing professional traders to hold perps and event contracts in one marginable account.