Hyperliquid Gains Institutional Traction Through Hashdex ETF Addition
Hyperliquid has taken its place as one of the largest holdings in Hashdex's Nasdaq CME Crypto Index ETF, NCIQ. The token now holds a 3.36% weighting within the fund, which currently holds nine assets and over $431 million in net assets.
The addition was made through quarterly rebalancing rather than a discretionary investment decision. Hyperliquid met the index requirements for liquidity, market capitalization, and custody support, allowing it to qualify for the fund.
In contrast, Multicoin Capital, one of HYPE's institutional backers, has been reducing its position in the token. Despite publishing a bullish research report in June that projected HYPE could reach $319 by 2028, Multicoin has sold close to 75% of its approximately 4 million HYPE tokens.
Hashdex's addition of Hyperliquid to NCIQ is significant because it provides institutional investors with another way to gain exposure to the token. The fund now holds a total of nine assets, and its quarterly rebalancing will continue to influence market dynamics.