Hyperliquid's native token, HYPE, has made its debut in the Hashdex Nasdaq CME Crypto Index ETF (NCIQ), establishing itself as the fifth-largest holding with a 3.4% weighting. This is significant as it marks the first time HYPE has been included in a US-listed crypto exchange-traded fund (ETF). According to BeInCrypto, this inclusion comes at a time when institutional interest in crypto ETFs is very robust. The Hashdex ETF, as of September 1, reported approximately $431.37 million in net assets, highlighting the growing capitalization within the crypto space.
As for the other major holdings in the Hashdex ETF, Bitcoin (BTC) remains the largest, followed by Ethereum (ETH), XRP, and Solana (SOL). The weighting of Bitcoin in the ETF has seen a decrease from 78% to 74.6%, while Solana's share has increased from 3.2% to 3.7%. This shift in asset allocation reflects ongoing dynamics within the crypto market. The ETF's shares closed at $19.46 on the same day, close to their net asset value of $19.50, as indicated by its disclosures. The ongoing adjustments in the ETF showcases the active management strategy employed by Hashdex.
HYPE has been gaining momentum in the market, reaching an all-time high of $84.80 in late August, largely due to a new buyback program. Currently, HYPE is trading at $81.76 with a market capitalization of approximately $18.31 billion, ranking it tenth among all cryptocurrencies. The listing of HYPE in the Hashdex ETF could potentially enhance its visibility and support continued interest from institutional investors. As the cryptocurrency market evolves, future rebalances within the ETF may influence HYPE’s position, potentially increasing its weight further in subsequent adjustments. The growing demand for crypto-related assets signifies a positive sentiment and optimism about the future of digital finance, according to BeInCrypto.
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This material has been prepared solely for informational purposes and does not constitute financial advice or a recommendation.