Bitwise adds HYPE, XLM to crypto index ETF

Bitwise has added HYPE and XLM to its flagship crypto index ETF (BITW) while removing DOT and AVAX, BeInCrypto reported. HYPE was incorporated with a weighting of 0.93% and XLM with 0.38%, making HYPE the fifth-largest holding in the fund after BTC, ETH, XRP, and SOL. BITW operates similarly to a stock market index fund, automatically holding the top 10 eligible cryptocurrencies by market capitalization. This allows investors to gain exposure to the assets without purchasing them directly.