by Coinstrooper Crypto Articles
Quick Take
  • The addition makes HYPE the fund’s fifth-largest holding, ranking behind Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL).
  • NCIQ tracks the Nasdaq CME Crypto Settlement Price Index (NCIS).
  • The index reflects the daily close of the Nasdaq CME Crypto Index (NCI), built under Nasdaq and CME Group methodology.
  • The fund held roughly $431.37 million in net assets as of September 1.

What Happened

Hyperliquid’s (HYPE) native token has entered a US-listed crypto index exchange-traded fund (ETF) for the first time, joining Hashdex’s Nasdaq CME Crypto Index ETF (NCIQ) at a 3.4% weighting.

The addition makes HYPE the fund’s fifth-largest holding, ranking behind Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL).

How HYPE Entered the Hashdex Crypto ETF

Market Context

NCIQ tracks the Nasdaq CME Crypto Settlement Price Index (NCIS). The index reflects the daily close of the Nasdaq CME Crypto Index (NCI), built under Nasdaq and CME Group methodology.

Hyperliquid is a layer-1 blockchain built around onchain perpetual futures trading. Perpetual futures let traders speculate on price without owning the underlying asset.

As of publication, HYPE trades at $81.76, up 5.74% over 24 hours. Its market capitalization stands near $18.31 billion, ranking tenth among all cryptocurrencies.

Why It Matters

How future rebalances unfold could determine whether HYPE’s weighting keeps growing.

Details

The fund held roughly $431.37 million in net assets as of September 1. Shares closed that day at $19.46, against a net asset value of $19.50, according to the fund’s disclosures.

Bitcoin’s weighting dropped from 78% to 74.6% in the update. Solana’s share climbed from 3.2% to 3.7% over the same period.

Ethereum, XRP, Cardano (ADA), Chainlink (LINK), Stellar (XLM), and Bitcoin Cash (BCH) round out the remaining holdings.

Momentum Builds for Hyperliquid

HYPE reached an all-time high of $84.80 in late August. A new buyback program funded by reserve yield helped drive that rally.

The listing adds to steady institutional demand for crypto ETFs this year. Spot Bitcoin ETF inflows have stayed strong, and Solana ETF inflows recently hit a multi-month high too.

Rival index providers have taken different approaches to asset selection. A Bitcoin-free benchmark from S&P Dow Jones and Pantera excludes BTC entirely.

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