Hashdex Nasdaq CME Crypto Index ETF Reports Significant Decline in Net Assets for Q1 2026

Hashdex Nasdaq CME Crypto Index ETF has reported its financial results for the three months ending March 31, 2026, revealing a significant decline in net assets and a net investment loss. The Trust's total assets decreased to $98.1 million from $121.3 million at the end of 2025, primarily due to a drop in the fair value of its crypto assets, which fell to $98 million from $121.2 million. The net asset value (NAV) per share also declined, dropping to $17.24 from $22.71. The Trust's net assets at the end of the reporting period stood at $98.1 million, down from $121.3 million at the end of the previous fiscal period.

The financial performance of the Trust showed a net decrease in net assets resulting from operations of $29.5 million for the quarter, compared to a loss of $3.9 million for the same period in the previous year. This decline was attributed to a net realized loss of $318,507 and a substantial net change in unrealized depreciation of $29.2 million. The management fees increased significantly to $132,575 from $23,257 in the prior period, reflecting the Trust's growth in assets under management and the temporary reduction of the management fee from 0.50% to 0.25% per annum, effective March 16, 2026.

In terms of operational developments, the Trust issued 350,000 shares during the quarter, bringing the total shares outstanding to 5.69 million, up from 5.34 million at the end of 2025. The Trust's investment strategy transitioned to the Nasdaq CME Crypto Settlement Price Index on January 20, 2026, which is expected to align the Trust's performance more closely with the broader crypto market. The Trust's investment objective remains focused on providing price exposure to certain crypto assets, and it continues to engage with authorized participants for the creation and redemption of shares.

The filing also highlighted the Trust's management structure and operational support, with Hashdex Asset Management Ltd. serving as the sponsor and various custodians managing the crypto assets. The Trust's expenses, including management fees and transaction costs, are closely monitored, and the sponsor has agreed to absorb certain operational costs to maintain the Trust's financial health. As of March 31, 2026, the Trust had a liability of $21,195 to the sponsor for management fees.

Looking ahead, the Trust's management remains focused on navigating the volatile crypto market while seeking to enhance shareholder value through strategic adjustments in its investment approach. The Trust's ongoing commitment to transparency and adherence to regulatory standards will be critical as it continues to adapt to market conditions and investor needs.