Hyperliquid's HYPE Token Becomes Fifth-Largest Holding in Hashdex Crypto ETF

Hyperliquid’s native token HYPE entered the Hashdex Nasdaq CME Crypto Index ETF (ticker NCIQ) at a 3.4% weighting, becoming the fund’s fifth‑largest holding.

ETF composition after the update

The fund now ranks its top holdings as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL) and HYPE. Bitcoin’s share fell from 78% to 74.6%, while Solana’s increased from 3.2% to 3.7%.

Other assets such as Cardano (ADA), Chainlink (LINK) and Stellar (XLM) have lower weightings than HYPE.

Fund details

• Tracks the Nasdaq CME Crypto Settlement Price Index (NCIS), which reflects the daily close of the Nasdaq CME Crypto Index (NCI).
• Net assets were approximately $431.37 million as of September 1.
• Share price closed at $19.46, with a net asset value of $19.50.

Hyperliquid overview

Hyperliquid is a layer‑1 blockchain focused on on‑chain perpetual futures trading. HYPE reached an all‑time high of $84.80 in late August and was trading at $81.76 at the time of reporting, up about 5.7% over 24 hours. The token’s market capitalization was near $18.31 billion, placing it tenth among all cryptocurrencies.

Market context

Institutional interest in crypto ETFs remains steady, with ongoing inflows into spot Bitcoin ETFs and recent multi‑month highs for Solana‑focused ETFs. Competing index providers are taking varied approaches, including a Bitcoin‑free benchmark from S&P Dow Jones and Pantera.

Future rebalancing of the Hashdex fund will determine whether HYPE’s weighting continues to grow.