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AVAX 
DOT 
HYPE 
XLM Bitwise 10 Crypto Index ETF completes monthly position adjustment HYPE was selected for the first time
Bitwise Asset Management has included Hyperliquid (HYPE) in its Bitwise 10 Crypto Index ETF (BITW), marking the first time that this decentralized exchange token has become the largest multi-currency crypto ETF under asset management.
What changes have occurred to the Bitwise 10 Crypto Index ETF
This inclusion stems from Bitwise\'s monthly adjustment of the Bitwise 10 market crypto index on May 28, 2026. Along with HYPE, Stellar Coins (XLM) were included, while Poca Coins (DOT) and Avalanche Coins (AVAX) were removed. Based on snapshot data at 4 pm EST that day, HYPE\'s weight in the index is 0.83%.
BITW tracks the Bitwise 10 large-market crypto index, holding the top ten crypto assets by market capitalisation, and reallocating positions monthly. The ETF was listed on the New York Stock Exchange Arca on December 9, 2025 and was converted from a closed-end trust structure. As of July 6, 2026, its net assets were US$580,577,597.
On the same day, HYPE\'s weight in BITW has increased to 0.95% due to the price increase since the position adjustment in May, corresponding to 78,927 shares. Hyperliquid has a market value of approximately $14.9 billion, and token prices fluctuate around $67.08.
What does HYPE inclusion mean for the index
Changes in the composition of index ETFs are not subjective choices. BITW\'s strategy is to select the top ten qualified crypto assets with the largest market capitalisation, so HYPE\'s selection means that Hyperliquid has grown enough to replace mature one-tier network tokens such as DOT and AVAX in a rules-driven ranking. For investors who use BITW as a one-stop cryptographic asset allocation tool, this adjustment means the first time they have direct access to a decentralized perpetual contract agreement. This shift also confirms Bitwise\'s market positioning as a leading multi-currency crypto ETF provider. ETF.com awarded BITW the \"Best New Crypto ETF\" award in early 2026, calling it the first product to introduce a broad crypto index into the regulated ETF framework since its transformation from a trust.
This adjustment comes at a time when sentiment in the crypto market is depressed. The Fear and Greed Index recorded 20 points, which is in the \"extreme fear\" range, indicating that this position adjustment reflects more mechanical index rules than driven by chasing sentiment.
Trends worthy of attention after Bitwise ETF adjustment
Investors tracking BITW should pay attention to whether HYPE weights will continue to rise before they are reset next month. Continued gains could push token weights above 1%, while declines could push them back to the initial level of 0.83%. The removal of DOT and AVAX also raises the question of whether these tokens can regain their top ten position in market value, or whether more new agreements will continue to rotate in. Regulatory developments may also affect BITW\'s scope of eligible assets.
Other crypto ETF issuers are also expanding token coverage. The European Securities and Markets Authority\'s review of crypto custodians may affect asset eligibility for regulated products on both sides of the Atlantic. BITW\'s next position transfer will provide the first empirical test of whether HYPE can retain its seat. Until then, the ETF\'s position page remained the most direct way to track Hyperliquid\'s real-time weight in funds.
Disclaimer: This article is for information only and does not constitute financial or investment advice. There are significant risks in the cryptocurrency and digital asset markets. Please study for yourself before making any decisions.
