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Hyperliquid’s HYPE has joined the Hashdex Nasdaq CME Crypto Index ETF, becoming the product’s fifth-largest crypto holding. Hashdex added HYPE to the Nasdaq-listed NCIQ on September 1, expanding the fund from eight crypto assets to nine.
HYPE represented about 3.4% of the ETF following the addition. It ranked behind Bitcoin, Ether, XRP and Solana, according to Hashdex’s latest portfolio data.
HYPE Enters NCIQ After Index Inclusion
HYPE was added after qualifying for inclusion in the Nasdaq CME Crypto Index, which underpins NCIQ’s portfolio. Hashdex said the eligibility criteria include minimum liquidity and market-capitalization thresholds, support from qualified custodians and compliance with the SEC’s generic listing standards for crypto-asset exchange-traded products.
The addition was therefore tied to the fund’s rules-based index methodology rather than presented as a standalone discretionary investment by Hashdex. NCIQ originally launched with Bitcoin and Ether in February 2025 before subsequent index changes expanded the number of crypto assets represented in the portfolio. Hashdex Chief Investment Officer Samir Kerbage said:
“The portfolio was designed to broaden as additional assets met the index requirements.”
Bitcoin Remains Dominant NCIQ Holding
Hashdex’s September 1 holdings showed Bitcoin at 74.41% of NCIQ, followed by Ether at 11.81%, XRP at 5.19% and Solana at 3.73%. HYPE followed at 3.39%, placing it ahead of Cardano, Chainlink, Stellar and Bitcoin Cash by portfolio weight.
The fund held approximately 177,313 HYPE tokens at the September 1 snapshot, valued at Hashdex’s reported reference price of $82.53 per token. NCIQ reported total net assets of about $431.37 million on the same date.
The weighting of each asset can change as token prices move, and the underlying index is rebalanced. HYPE’s fifth-place position therefore reflects the portfolio at the reported snapshot rather than a fixed allocation.
Hashdex Expands Multi-Asset Crypto Exposure
NCIQ seeks to reflect daily changes in the Nasdaq CME Crypto Settlement Price Index before expenses and liabilities. The addition gives investors indirect exposure to HYPE as part of a U.S.-listed multi-asset exchange-traded product.
HYPE’s inclusion expands the number of assets represented in Hashdex’s multi-asset crypto ETF to nine. Future additions or weighting changes will depend on the index methodology, asset eligibility and subsequent rebalancing.
