Bitwise has added Hyperliquid (HYPE) to its Bitwise 10 Crypto Index ETF (BITW), marking the first time the decentralized exchange token has earned a place in the largest multi-coin crypto ETF
Bitwise has added Hyperliquid (HYPE) to its Bitwise 10 Crypto Index ETF (BITW), marking the first time the decentralized exchange token has earned a place in the largest multi-coin crypto ETF by assets under management.
The addition stems from Bitwise's May 28, 2026 monthly rebalance of the Bitwise 10 Large Cap Crypto Index. Alongside HYPE, Stellar (XLM) entered the index, while Polkadot (DOT) and Avalanche (AVAX) were removed. For related coverage, see Weekly Crypto Market Review May 26 2026: Bitcoin, Gold, Oil, ZEC & Hyperliquid Analysis.
HYPE entered the index at a weight of 0.83%, based on a snapshot taken at 4:00 p.m. ET that day. For related coverage, see Could This Be Your Ticket to Free Crypto Riches? APEMARS Presale Hits Stage 3 with 22,367% ROI Potential While Ethereum and Chainlink Make Waves.
Bitwise 10 Large Cap Crypto Index 0.83% Hyperliquid's assigned weight when Bitwise added HYPE in the May 28, 2026 monthly rebalance.BITW tracks the Bitwise 10 Large Cap Crypto Index and holds the ten largest crypto assets by market capitalization, rebalanced monthly. The ETF listed on NYSE Arca on December 9, 2025, after converting from a closed-end trust structure, and held $580,577,597 in net assets as of July 6, 2026.
As of that same date, HYPE's weight inside BITW had drifted to 0.95% across 78,927 shares, reflecting price appreciation since the May rebalance entry point. Hyperliquid's broader market cap stood near $14.9 billion, with the token trading around $67.08.
Constituent changes in an index ETF are not editorial choices. BITW's methodology selects the ten largest eligible crypto assets by market capitalization, so HYPE's entry signals that Hyperliquid has grown large enough to displace established layer-1 tokens like DOT and AVAX on a rules-based ranking.
For investors using BITW as a single-ticket crypto allocation, the swap means direct exposure to a decentralized perpetual exchange protocol for the first time. This shift mirrors a broader theme in recent crypto market reviews covering Hyperliquid's rising profile during May 2026.
The move also reinforces Bitwise's positioning as the leading multi-coin crypto ETF provider. ETF.com recognized BITW with a best new crypto ETF award earlier in 2026, describing it as the first product to bring a broad crypto index into a regulated ETF wrapper after its conversion from a trust.
The addition arrives during a period of subdued sentiment across crypto markets. The Fear and Greed Index registered a score of 20, firmly in the "Extreme Fear" zone, suggesting the rebalance reflects mechanical index criteria rather than momentum-driven enthusiasm.
Investors tracking BITW should monitor whether HYPE's weight continues to drift upward before the next monthly rebalance resets allocations. A sustained rise could push the token's share above 1%, while a downturn might compress it back toward the 0.83% entry level.
The displacement of DOT and AVAX also raises a question for future rebalances: whether those tokens can reclaim enough market cap to re-enter the top ten, or whether newer protocols will continue to cycle in. Regulatory developments could also shape BITW's eligible universe, particularly as the SEC advances its 2026 regulatory agenda for crypto assets.
Other crypto ETF issuers have been expanding their token coverage as well. Coinbase recently added GRVT to its asset roadmap, reflecting a broader industry push to bring more tokens into regulated financial products. Meanwhile, ESMA's review of crypto custody providers in Europe could influence which assets qualify for inclusion in regulated products on both sides of the Atlantic.
BITW's next rebalance will offer the first concrete test of whether HYPE holds its spot. Until then, the ETF's holdings page remains the most direct way to track Hyperliquid's live weight inside the fund.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
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