Bitwise Adds Hyperliquid to Index Fund Amid Hype and Short Pressure

Bitwise added Hyperliquid (HYPE) to its Bitwise 10 Crypto Index ETF, giving it a 0.95% weighting in the fund.

This move came after HYPE outperformed most large-cap crypto assets in 2026 and reached a market value above $11 billion, according to Bitwise.

The addition of HYPE to the index product was part of a broader rebalance that also included Stellar entering and Polkadot and Avalanche being removed from the fund.

The inclusion of HYPE in the Bitwise index fund has shifted its narrative from a high-beta trading asset to a managed portfolio product, with some market participants viewing it as a test of Hyperliquid's demand and legitimacy.