Bitwise Ditches DOT, AVAX From Flagship ETF; Hyperliquid and Stellar In
Bitwise just ejected Polkadot and Avalanche from its flagship crypto index ETF, making room for Hyperliquid and Stellar. This move highlights the rapid churn in the top 10, with Hyperliquid now a significant holding. The question is whether HYPE can maintain its position amidst upcoming unlocks.
Bitwise is shaking up its 10 Crypto Index ETF (BITW), booting Polkadot (DOT) and Avalanche (AVAX) in its latest rebalance. Hyperliquid (HYPE) and Stellar (XLM) are the new entrants, slotting in at 0.93% and 0.38% respectively. HYPE’s inclusion at 10th largest by market cap, a hefty $15 billion, signals its growing dominance in the perpetual DEX space. Stellar, despite ranking 18th overall, also cleared Bitwise’s eligibility hurdles. The exit for DOT and AVAX isn't a death knell but a reflection of their market cap slide; both have shed over 95% from their 2021 peaks. HYPE's seat looks secure for now, bolstered by demand and its own dedicated ETF flows, but watch out for scheduled token unlocks that could pressure its price.