HYPE joins Hashdex crypto index fund, reshuffling top holdings
Ecosystem ·
Hyperliquid's HYPE token has entered a U.S.-listed crypto index ETF for the first time, taking a spot among the fund's largest positions.
Hashdex's NCIQ fund now allocates 3.4% of its portfolio to HYPE, according to wublockchain.xyz, placing the token fifth by weighting within the product. The addition marks the first time HYPE has appeared inside a U.S. crypto index ETF structure.
The inclusion coincided with a broader rebalancing of the fund's composition. Bitcoin's share of the portfolio slipped from 78% to 74.6%, while Solana's allocation climbed from 3.2% to 3.7%. Those shifts suggest the fund's index methodology is giving more weight to assets outside bitcoin as the underlying market composition changes.
The move signals a form of institutional recognition for Hyperliquid, since inclusion in a regulated index product typically reflects criteria tied to market capitalization, liquidity, or other quantitative thresholds set by the index provider rather than a discretionary pick. For HYPE, entry into NCIQ represents a step toward broader exposure through a traditional fund wrapper accessible to U.S. investors.
The report on the reweighting has been corroborated by two distinct sources covering the development, though the material does not specify what other assets round out NCIQ's top holdings or detail the exact methodology or rebalancing schedule Hashdex uses to adjust weightings over time.
What remains unclear is whether HYPE's weighting will hold steady in subsequent rebalancing periods or whether further inflows or outflows tied to the fund could alter its standing relative to bitcoin and Solana. Also unaddressed is how this inclusion might influence other index providers considering similar additions.