Fortune's inaugural Crypto 100, built with Inca Digital, places BlackRock and Hyperliquid at the top. Hyperliquid's native HYPE token ETF raised up to $160 million, a first for non-BTC/ETH digital assets.
Fortune published its first Crypto 100 ranking on June 11, a joint effort with blockchain analytics firm Inca Digital. The list covers 3,000 companies split into ten categories, each holding ten names. Two winners stand apart: BlackRock in ETFs and investment products, and Hyperliquid in DeFi.
BlackRock's Bitcoin and Ethereum ETFs have pulled in billions since their January 2024 launch. The firm tops the ETF category, making those products some of the fastest-growing investment vehicles on record. Franklin Templeton leads the TradFi segment, edging out traditional peers through an aggressive push into tokenization and on-chain funds.
Coinbase kept the top CeFi spot, with Binance just behind. Robinhood led fintechs, Andreessen Horowitz venture capital, Tether stablecoins, Chainalysis crypto services, and MARA mining operations. For more on MARA's position in the sector, you can visit its stock page.
Hyperliquid sits at the top of DeFi with an unusual architecture. The platform runs a decentralized perpetuals exchange on its own layer-1 blockchain, bypassing Ethereum and Solana. That choice gives it throughput that traditional DEXs struggle to match.
The stronger signal comes from ETFs. In May 2026, the first regulated investment products tied to the native HYPE token launched in the United States. They raised between $75 million and $160 million in their first weeks. This is the first time a native DeFi token that is not Bitcoin or Ether has drawn institutional flows through a regulated vehicle. Fortune called it the start of an “era of suits and ties in crypto.”
The ranking crystallizes a shift visible since the approval of Bitcoin ETFs in early 2024. Traditional finance firms no longer tiptoe around crypto. They sit at its front ranks. BlackRock, Franklin Templeton, and Coinbase on one side; Hyperliquid, Tether, and Andreessen Horowitz on the other. The convergence between TradFi and DeFi now shows up in a quantified list, not just conference chatter.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.