HYPE Joins Hashdex Crypto ETF as Fifth-Largest Holding

Hyperliquid’s HYPE token has joined the Hashdex Nasdaq Crypto Index US ETF (NCIQ), becoming the fund’s fifth-largest holding behind Bitcoin (BTC), Ethereum (ETH), XRP and Solana (SOL).

The addition gives HYPE greater exposure to institutional investors as the Hyperliquid ecosystem continues to gain momentum. NCIQ tracks the Nasdaq CME Crypto Settlement Price Index (NCIS), which reflects the daily closing value of the Nasdaq CME Crypto Index under methodology developed by Nasdaq and CME Group.

As of September 1, the Hashdex crypto ETF held approximately $431.37 million in net assets. NCIQ shares closed at $19.46 that day, slightly below the fund’s net asset value of $19.50.

The latest portfolio adjustment also changed the weighting of several major cryptocurrencies. Bitcoin’s allocation declined from 78% to 74.6%, while Solana increased from 3.2% to 3.7%.

HYPE now carries a larger weighting than Cardano (ADA), Chainlink (LINK) and Stellar (XLM). Other assets represented in the ETF include Ethereum, XRP and Bitcoin Cash (BCH).

Hyperliquid is a layer-1 blockchain focused primarily on onchain perpetual futures trading, allowing users to speculate on cryptocurrency prices without directly owning the underlying assets.

HYPE has enjoyed strong price momentum in recent weeks. The token reached an all-time high of $84.80 in late August, supported partly by a new buyback program financed through reserve yield.

At the time of publication, HYPE traded at $81.76, gaining 5.74% over the previous 24 hours. Its market capitalization stood at approximately $18.31 billion, making it the tenth-largest cryptocurrency by market value.

HYPE’s inclusion comes amid continued institutional demand for cryptocurrency investment products. Bitcoin ETF inflows have remained robust, while Solana ETFs recently recorded their strongest inflows in several months.

Crypto index providers are taking increasingly different approaches to portfolio construction. S&P Dow Jones and Pantera, for example, have introduced a benchmark that excludes Bitcoin entirely.

Future Hashdex ETF rebalances could now determine whether HYPE gains a larger allocation as Hyperliquid’s market presence and institutional adoption develop.