Bitwise adds Hyperliquid to crypto index ETF, removes Polkadot and Avalanche

Bitwise has adjusted the composition of its Bitwise 10 Crypto Index ETF (BITW), the largest crypto index fund in the world. Hyperliquid (HYPE) and Stellar (XLM) are added, while Polkadot (DOT) and Avalanche (AVAX) are removed from the fund. The change takes effect on 7 July 2026.

Hyperliquid impresses with strong performance

Hyperliquid has earned its place in the fund based on exceptional figures from the first half of 2026. During that period, the platform processed no less than $1.34 trillion in trading volume and generated $320 million in revenue. The HYPE price rose 165% year-on-year over the same period. After the rebalancing, HYPE will receive a weight of approximately 0.95% in the fund, according to Bitwise.

Bitcoin’s dominance in the fund remains significant. With a weighting of 77.54% and a market value of more than $1.24 quadrillion, Bitcoin is by far the largest position. Ethereum follows at a distance with 13.04%, while XRP accounts for 4.21% and Solana for 2.78%.

Stellar added, Polkadot and Avalanche removed

In addition to Hyperliquid, Bitwise is also adding Stellar to the fund. The rebalancing is based on market capitalisation rankings and optimisation of the weights within the fund. This means that Polkadot and Avalanche lose the positions they previously held in BITW.

All fund holdings were trading lower on the day of the announcement. Hyperliquid was at $67.00, down 4.30% in 24 hours, while Solana fell 4.98% to $77.10. Bitcoin and Ethereum declined by 2.37% and 2.69% respectively. The broader market is therefore under pressure, which makes HYPE’s strong annual gain even more notable. Earlier this week, Bitcoin and Ethereum ETF flows were positive for several consecutive days, indicating that institutional interest in crypto continues.