The Census definition of "Hispanic" (including South American
Whites as well as the Indigenas and Mestizos you usually think of) is purpose-built to be as encompassing as possible. It's also not a racial category, but a separate question. It asks you only if you have Hispanic ancestry, not how much of it. Nor if you speak Spanish.
So... if we're assuming current trends - of intermarriage as well as immigration - to continue, and if we - rather more spuriously - assume people to answer the Census truthfully, and the Census question to not get changed eventually, the answer is "yes but it won't mean a thing".