Hyperliquid’s HYPE token has been added to a US-listed crypto index exchange-traded fund for the first time. The token entered Hashdex’s Nasdaq CME Crypto Index ETF, trading under the ticker NCIQ, with a 3.4% allocation.

That change makes HYPE the fund’s fifth-largest position, behind Bitcoin, Ethereum, XRP, and Solana. Based on the latest figures cited in the fund update, NCIQ held about $431.37 million in net assets as of September 1.

A new token joins the portfolio

NCIQ tracks the Nasdaq CME Crypto Settlement Price Index, which is designed to reflect the daily close of the Nasdaq CME Crypto Index using methodology developed with CME Group and Nasdaq. HYPE’s inclusion expands the basket of assets represented in the ETF and marks its first appearance in a US-listed crypto index fund, according to the source article.

With its 3.4% weighting, HYPE now ranks ahead of several other assets already in the fund. The article says its allocation is larger than those of ADA, LINK, and XLM, while the rest of the portfolio also includes Ethereum, XRP, Cardano, Chainlink, Stellar, and Bitcoin Cash.

How the fund’s weightings shifted

The rebalance also changed the ETF’s broader composition. Bitcoin’s share fell to 74.6% from 78%, while Solana’s allocation increased to 3.7%. Even after that reduction, Bitcoin remains by far the dominant holding in the portfolio.

As of September 1, shares of NCIQ closed at $19.46, compared with a net asset value of $19.50. The fund size and the latest allocations together show that HYPE entered the product at a meaningful, though still minority, share of assets.

Background on Hyperliquid and HYPE

Hyperliquid is described in the source article as a layer-1 blockchain focused on onchain perpetual futures trading. Its native token has recently drawn attention as its market value and price moved higher.

The article states that HYPE reached an all-time high of $84.80 in late August, helped by a new buyback program funded by reserve yield. At the time of publication, the token was trading at $81.76, up 5.74% over 24 hours, with a market capitalization near $18.31 billion.

What comes next

The source article places HYPE’s ETF entry alongside continued institutional demand for crypto fund products this year, noting strong inflows into spot Bitcoin ETFs and a multi-month high for Solana ETF inflows.

For HYPE specifically, the next confirmed variable is future index rebalancing. Those updates will determine whether the token’s weighting in NCIQ stays near current levels or increases over time.

Source: beincrypto.com