Hyperliquid joins Hashdex ETF as Multicoin sells
Hyperliquid secured a 3.36% weighting in the Hashdex Nasdaq CME Crypto Index ETF on September 1, 2026. Multicoin Capital simultaneously reduced its position by nearly 75%.
Hyperliquid is now the fifth-largest holding in the Hashdex Nasdaq CME Crypto Index ETF. The token carries a 3.36% weighting as of September 1, 2026. This addition brings the fund’s total asset count to nine. It sits behind Bitcoin, Ethereum, XRP, and Solana.
Multicoin Capital has sold close to 75% of its Hyperliquid position. The firm originally accumulated roughly 4 million HYPE tokens in early 2026. These sales occurred while the regulated fund added the asset. GN markets/crypto (en-US) notes this divergence in institutional behavior.
Index inclusion drives fund allocation
Hashdex added Hyperliquid through the index’s quarterly rebalancing process. The token met liquidity and market capitalization requirements. It also satisfied SEC generic listing standards for crypto ETPs. Bitcoin’s weighting in the fund fell to 74.36% from 78%. Solana’s weighting rose to 3.79% from 3.2%.
The fund held $431.37 million in net assets at the time. This inclusion allows investors to gain exposure without buying the token directly. Money flowing into the fund spreads across holdings by weight. This provides a new channel for institutional capital.
Multicoin executes large token transfers
Multicoin began moving assets to Coinbase Prime in July. The firm transferred 395,570 HYPE worth approximately $23.8 million on July 21 and 22. Another 86,000 tokens followed shortly after. Subsequent transfers ranged from 136,000 to 173,000 tokens each.
Onchain Lens tracked about $59 million in HYPE deposits over 30 days. This data confirms the steady reduction of the position. The selling continued through mid-to-late August. This happened concurrently with the ETF addition.
Institutional interest remains diversified
Multicoin published a research report on June 25, 2026. The firm projected HYPE could reach $319 by 2028. The token was trading near $63 at that time. Multicoin also invested $1.75 million in Trasia Labs in July.
Thirty institutions now hold a combined $75 million across HYPE funds. UBS, Jane Street, and Bank of Montreal are among them. Grayscale also launched a Hyperliquid staking ETF this year. HYPE reached an all-time high of $84.80 in late August.
