Hyperliquid’s HYPE token was added to Hashdex’s NCIQ crypto index ETF for the first time, with a 3.4% weighting, making it the ETF’s fifth-largest holding. Meanwhile, Bitcoin’s weighting fell from 78%

HYPE's inclusion in Hashdex's NCIQ index ETF at a 3.4% weight gives it direct institutional exposure through a regulated product, which creates passive buying demand and signals growing acceptance; this improves HYPE's liquidity outlook, so HYPE is short-term bullish (medium). Bitcoin's lower weight is mainly a relative rebalancing and not a direct bearish shift.