HYPE included for the first time in U.S. crypto index ETF

The HYPE token of Hyperliquid is making its debut in a US crypto index ETF. Asset manager Hashdex has added the token to its Nasdaq CME Crypto Index ETF (NCIQ), with a weighting of 3.4%. This makes HYPE immediately the fourth largest position in the fund, after Bitcoin, Ethereum, XRP and Solana. The fund’s total assets stand at over $431 million.

In short:

• HYPE is included in a US crypto index ETF for the first time, with a weighting of 3.4%
• Bitcoin falls within the fund from 78% to 74.6%, Solana rises from 3.2% to 3.7%
• Hashdex’s NCIQ ETF tracks a broad basket of crypto assets based on market capitalisation

Fifth position in the Hashdex fund

The NCIQ is an ETF listed via Nasdaq that offers exposure to a basket of crypto assets based on market capitalisation. The fund tracks the Nasdaq CME Crypto Settlement Price Index, which is calculated daily by CF Benchmarks. With the addition of HYPE, the fund now holds five positions.

Bitcoin remains by far the largest position at 74.6%, followed by Ethereum at 11.8% and XRP at 5.1%. Solana has a weighting of 3.7%, while HYPE comes in just below at 3.4%. The inclusion of HYPE follows the index methodology and the generic listing rules of the exchange where the fund is listed. Earlier this week, Hyperliquid Strategies increased its share capital to $2.5 billion, illustrating the growing institutional interest in the Hyperliquid ecosystem.

Bitcoin weighting falls, Solana rises

The fund rebalancing leads to some notable shifts. Bitcoin sees its share fall from 78% to 74.6%, although it remains the dominant position within the fund. Solana, by contrast, benefits from the rebalancing and rises from 3.2% to 3.7%, coinciding with record activity on the Solana network.

For HYPE, inclusion in a regulated US ETF is a first. The token had not previously been represented in such indexed funds. Meanwhile, Bitcoin ETFs are under pressure, with outflows of $236 million on the first day of September. Bitcoin is currently trading at $77K, down 0.5% over the past 24 hours.