Hyperliquid lands in Bitwise 10 ETF after 165% HYPE rally

Bitwise has added Hyperliquid’s HYPE token to the Bitwise 10 Crypto Index ETF, known by the ticker BITW. The move places HYPE inside a fund that gives investors exposure to a basket of large crypto assets rather than a single token.

Summary

• Hyperliquid entered BITW after strong trading activity pushed HYPE into Bitwise’s top large-cap crypto basket.
• DOT and AVAX lost BITW spots as HYPE and XLM met the index’s rebalancing criteria.
• Crypto.news coverage shows HYPE ETF demand rose quickly before early outflows tested the narrative later.

Bitwise describes BITW as the “world’s first and largest crypto index fund.” The product tracks the Bitwise 10 Large Cap Crypto Index, which covers the largest screened crypto assets by market value.

DOT and AVAX leave the basket

The latest holdings data, dated July 7, 2026, show Hyperliquid in the fund with a weight close to 1%. Reports placed HYPE’s share near 0.95%. The same update also showed Stellar entering the fund, while Polkadot and Avalanche were removed.

The change follows Bitwise’s latest index reconstitution. BITW rebalances monthly and weights assets by market cap after screening. That means tokens can enter or leave the fund when rankings, liquidity, and index checks change.

Hyperliquid’s growth draws more attention

Hyperliquid has gained more market attention this year because of its trading activity. The platform reportedly recorded $1.34 trillion in trading volume and $320 million in revenue in the first half of 2026. HYPE was also reported to have gained 165% year-to-date before entering BITW.

The move also follows rising interest in HYPE-linked products. Crypto.news reported that HYPE ETFs crossed $100 million in cumulative net inflows as traditional finance investors increased exposure to Hyperliquid. Another crypto.news report later noted that the Bitwise HYPE ETF saw its first daily outflow after 16 straight inflow days.

Index entry adds visibility for HYPE

HYPE’s addition gives Hyperliquid more visibility inside a diversified crypto product. For investors, the entry means HYPE now sits inside a familiar index wrapper managed by Bitwise. Still, its fund weight remains small compared with Bitcoin and Ethereum.

Bitwise’s holdings remain subject to change because BITW adjusts with the market. HYPE’s entry shows that Hyperliquid has reached the size and market standing needed for Bitwise’s index basket. Future rebalances could change the mix again if market caps and screening results move.