Hashdex Nasdaq CME Crypto Index ETF
Hashdex Nasdaq CME Crypto Index ETF is a U.S.-listed exchange-traded fund that seeks to track a rules-based crypto index rather than actively trade or outperform it. The fund gives investors diversified exposure to a basket of crypto assets, with holdings and weights designed to mirror the Nasdaq Crypto US Index subject to eligibility and operational constraints.
Business
Share of revenueShares designed to replicate the performance of the Nasdaq Crypto US Index through direct crypto asset exposure.
Customers
The fund is bought by investors seeking regulated, exchange-traded exposure to crypto assets without directly holding tokens. Its stated use cases include portfolio diversification, tactical allocation, and hedging against losses in index-related transactions. Because it is passive, the product appeals to investors who want benchmark exposure rather than discretionary crypto selection.
Buy shares on exchange to gain simple, regulated exposure to a basket of crypto assets.
Use the fund for portfolio allocation, risk management, and benchmark exposure to crypto markets.
Use the ETF to hedge or express views on crypto index performance without direct token custody.
Strategy
The fund’s strategy is to maintain passive, full-replication exposure to the index and avoid leverage, inverse exposure, or active outperformance. It reconstitutes and rebalances quarterly, which helps keep holdings aligned with the benchmark as crypto market weights change. The sponsor also retains discretion to exclude or cap assets when regulatory, operational, or market-access issues could impair fund operation.
The fund’s value proposition depends on closely tracking the index for investors.
Eligibility and sponsor discretion help avoid assets that could create registration or trading problems.
Indicative Trust Value supports market making, trading, and investor confidence.
Geography
The fund is U.S.-domiciled and trades in the United States, with its index methodology tied to U.S.-regulated crypto trading and derivatives venues. Its operational footprint is therefore concentrated in U.S. market infrastructure, even though the underlying crypto assets are globally traded. Geography matters mainly through U.S. regulatory eligibility rules, market access, and the availability of approved trading and custody counterparties.
Risks
The fund is exposed to crypto price volatility, since returns are driven by the underlying index and the trust does not hedge or use leverage. It also faces regulatory and operational risk because index eligibility depends on U.S.-regulated trading venues, service-provider support, and sponsor discretion over asset inclusion. As an ETF holding digital assets, it is also exposed to valuation uncertainty, custody/settlement timing, and changes in market structure that can affect tracking and liquidity.
- Regulatory eligibility riskImpact: HighLikelihood: Low
Index inclusion depends on U.S.-regulated trading or derivatives venues, which may not exist or may change over time.
Exposure: Index methodology and constituent selection
- Crypto asset price volatilityImpact: High
The trust is passively exposed to the index and does not hedge or use leverage, so asset swings flow directly into NAV.
Exposure - Operational and liquidity support riskImpact: MediumLikelihood: Low
The sponsor may exclude assets if authorized participants or service providers cannot support trading or operations.
Exposure: Index replication and fund creation/redemption
- Valuation and fair value riskImpact: MediumLikelihood: Low
Crypto prices may require fair value judgments when settlement prices or market data are unavailable or unreliable.
Exposure: NAV calculation and financial reporting
Accounting
Judgemental itemsNAV depends on market-based pricing, and the trust may use alternative pricing or good-faith estimates when needed.
Impact: Can materially affect reported NAV and unrealized gains/losses
The report notes crypto positions were established on 9/30/25 and settlement occurred after period end.
Impact: Can cause period-end holdings and custodian balances to differ
Fees and allocated expenses are deducted from trust assets and reduce net investment results.
Impact: Directly lowers NAV and reported performance
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Last updated: 24/09/2026