Hyperliquid (HYPE) Enters Nasdaq Index..."In the Same Basket as Bitcoin and XRP"

▲ Hyperliquid (HYPE), USA/AI generated image

Hyperliquid (HYPE) has newly joined the Nasdaq-CME Cryptocurrency Index.

According to U.Today on September 1 (local time), Hyperliquid was included as a new constituent asset of the Nasdaq CME Cryptocurrency Index (NCI). As a result, the number of constituent assets in the Hashdex Nasdaq CME Cryptocurrency Index ETF (NCIQ), which tracks this index, increased from 8 to 9. The changes took effect on September 1.

Hyperliquid's inclusion weighting is 3.36%. Bitcoin (BTC) has the largest share at 74.36%, followed by Ethereum (ETH) at 11.88%. XRP accounts for 5.21%, and Solana (SOL) for 3.79%. Upon its inclusion, Hyperliquid ranked 5th in terms of index weighting.

The remaining constituent assets are Cardano (ADA) 0.46%, Chainlink (LINK) 0.42%, Stellar (XLM) 0.31%, and Bitcoin Cash (BCH) 0.21%. With the addition of Hyperliquid, Bitcoin's weighting decreased from the previous 78.63% to 74.36%. Ethereum's weighting increased from 10.97% to 11.88%.

Hyperliquid is a Layer 1 blockchain based on the Proof-of-Stake mechanism, which began operations in 2024. It operates an on-chain order book-based exchange that allows trading of spot and perpetual futures as its core service. HYPE is used for network fee payments, staking, and governance. It also has a structure that utilizes a portion of the fees generated by the exchange for HYPE purchases.

However, along with the new inclusion, risk factors were also presented. Hyperliquid was criticized for having a shorter operating period and more concentrated ownership and governance compared to other index constituent assets. Regulatory uncertainty was also cited as a risk factor. The Nasdaq CME Cryptocurrency Index re-evaluates constituent assets and adjusts their weightings quarterly.

[Article Key Summary]

-With Hyperliquid's inclusion in the Nasdaq CME Cryptocurrency Index, the number of constituent assets increased from 8 to 9.

-HYPE's inclusion weighting is 3.36%, ranking 5th in the index, following XRP at 5.21% and Solana at 3.79%.

-Bitcoin's weighting decreased from 78.63% to 74.36%, and Hyperliquid's short operational history and regulatory uncertainty were presented as risk factors.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*