Hyperliquid token HYPE becomes fifth-largest holding in Hashdex ETF

The native token of Hyperliquid, HYPE, has secured a place in Hashdex's Nasdaq CME Crypto Index ETF (NCIQ). The inclusion marks the first time the asset appears in a US-listed crypto index exchange-traded fund, carrying a 3.4% weighting within the portfolio. With this entry, HYPE ranks as the fund's fifth-largest position, trailing Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL).

NCIQ tracks the Nasdaq CME Crypto Settlement Price Index (NCIS), which mirrors the daily close of the Nasdaq CME Crypto Index (NCI) under Nasdaq and CME Group methodology. According to fund disclosures, net assets stood at approximately $431.37 million as of September 1. On that date, shares closed at $19.46, compared to a net asset value of $19.50.

The portfolio update altered the distribution of existing holdings. Bitcoin's allocation decreased from 78% to 74.6%, while Solana's increased from 3.2% to 3.7%. The remaining positions include Ethereum, XRP, Cardano (ADA), Chainlink (LINK), Stellar (XLM), and Bitcoin Cash (BCH).

Hyperliquid operates as a layer-1 blockchain designed for onchain perpetual futures trading, allowing traders to speculate on price movements without holding the underlying asset. HYPE hit an all-time high of $84.80 in late August, supported by a new buyback program funded by reserve yield.

At the time of publication, HYPE traded at $81.76, up 5.74% over the preceding 24 hours. The token's market capitalization is near $18.31 billion, placing it tenth among all cryptocurrencies.

This listing contributes to the ongoing institutional interest in crypto ETFs this year. Spot Bitcoin ETF inflows have remained robust, and Solana ETF inflows recently reached a multi-month high. Competing index providers have adopted different selection criteria; for instance, a Bitcoin-free benchmark from S&P Dow Jones and Pantera omits BTC entirely.

Future rebalances will determine if HYPE's weighting continues to expand.