Hashdex Nasdaq Crypto Index US ETF has reported its financial performance for the quarter ending September 30, 2025, marking a significant milestone as it is the Trust's first fiscal year of operations. The Trust's net assets increased to $153.5 million, up from $125.6 million at the end of the previous quarter, reflecting a total increase of $27.9 million. This growth was primarily driven by a net increase from operations of $16.5 million, which includes a net realized gain of $1.4 million and a net change in unrealized appreciation of $15.2 million. The Trust's net asset value (NAV) per share rose to $30.89, representing a 12.86% increase from $27.37 at the beginning of the quarter.
In terms of operational metrics, the Trust issued 470,000 shares during the quarter, resulting in a total of 4.97 million shares outstanding as of September 30, 2025. The Trust also redeemed 90,000 shares, leading to a net increase of 380,000 shares for the quarter. Since its inception on January 21, 2025, the Trust has created a total of 5.12 million shares and redeemed 150,000 shares. The Trust's investment strategy focuses on tracking the Nasdaq Crypto US Settlement Price Index (NCIUSS), which includes major cryptocurrencies such as Bitcoin, Ethereum, and Solana.
Strategically, the Trust has made several key developments, including entering into various agreements for over-the-counter trading services with firms like Cumberland DRW LLC and Flowdesk SAS. Additionally, the Trust has amended its Trust Agreement to comply with Nasdaq's generic listing standards, allowing it to hold a broader range of crypto assets. As of September 30, 2025, the Trust's portfolio was primarily composed of Bitcoin (73%), Ethereum (14.6%), and other cryptocurrencies, with Bitcoin representing the largest share of its assets.
The Trust's management has indicated a cautious outlook, emphasizing the inherent risks associated with crypto asset investments, including market volatility and regulatory changes. The Sponsor has temporarily reduced its management fee to 0.25% per annum through December 31, 2025, down from the standard 0.50%, to support the Trust's growth during its early operational phase. The Trust's management remains committed to maintaining transparency and effective governance as it navigates the evolving landscape of the cryptocurrency market.
About Hashdex Nasdaq Crypto Index US ETF
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