Asset Purchase and Sale Agreement for Hashdex Fund Entered Into on July 22
Key Facts
Hashdex Asset Management entered into a digital asset purchase and sale agreement on July 22, 2026, with JSCT, LLC, acting on behalf of the Hashdex Nasdaq CME Crypto Index ETF, according to a filing the company submitted to the U.S. Securities and Exchange Commission on July 23. The agreement governs digital asset transactions between the fund and the counterparty on a principal-to-principal basis. The filing said JSCT is one of the counterparties with which the fund trades crypto assets. The document therefore concerns a specific trading arrangement entered into in July, not an announcement of a new partnership on October 30. The filing also does not describe the agreement as a commitment to provide liquidity or strengthen the fund’s operating structure.
The contract terms state that Jane Street executes bilateral purchases and sales for its own account. The document says it does not act under the agreement as an exchange, broker or custodian for the fund. This distinction defines the counterparty’s role in the transactions without assigning it custody of the fund’s assets. The agreement permits trades to be executed through Jane Street’s electronic digital order system, known as JCX, or directly through chat and other communication channels. A footnote to the contract, however, says JCX is not currently available for crypto fund flows.
The agreement sets a default settlement deadline of no later than the first business day after a trade is executed, or T+1. The parties may agree in writing to amend the date if they document a network cooling-off period or blockchain congestion. The document also provides for two methods of submitting trading instructions: immediate-or-cancel orders or indications of interest. For an immediate-or-cancel order, the order is deemed rejected and terminated if Jane Street does not send a status report within 10 minutes of receiving it. These terms tie trade execution and settlement to specified deadlines and to agreement between the parties when documented network conditions arise.
The fund aims to align the daily change in the net asset value of its shares with the daily change in the price of its benchmark index, after expenses and liabilities. The fund trades on Nasdaq under the ticker NCIQ, and the benchmark represents the daily closing value of the Nasdaq CME Crypto Index. On January 20, 2026, the fund moved to the Nasdaq CME Crypto Settlement Price Index from the Nasdaq Crypto US Settlement Price Index. The fund began operations on February 14, 2025. As of June 30, 2026, its net assets were $190,069,351, with 13,040,000 shares outstanding.
The index weights as of June 30, 2026, show a heavy concentration in Bitcoin, which accounted for 78.22% of its constituents, followed by Ether at 11.75%. XRP had a weighting of about 5.34%, while Solana stood at 3.18%. The index reconstitutes and rebalances its constituents quarterly on the first business day of March, June, September and December. At the fund level, the annual management fee was cut to 0.25% from 0.50%, effective March 16, 2026. These figures provide a snapshot of the fund’s size, the index composition and the periodic schedule for updating its weights, in the context of the agreement governing digital asset purchases and sales.
Separate from the trading agreement, the fund entered into an amendment to its sponsor agreement on July 23, 2026, permitting it to stake its crypto assets. The filing said the fund expects to begin staking activities soon after the agreements take effect, subject to operational readiness. The filing did not specify a calendar date for the start of the activity. This is among the developments announced for the fund following the purchase and sale agreement, but it is subject to separate arrangements and operating conditions. The next index rebalance will take place, according to the announced quarterly schedule, on the first business day of the specified month in the March, June, September and December cycle.