NCIQ 10-K & 10-Q changes, risk factors and insider trading
Hashdex Nasdaq CME Crypto Index ETF · Nasdaq · Commodity Contracts Brokers & Dealers · CIK 2031069 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Comparison not available: Not available: fewer than two 10-K filings on EDGAR to compare (only one so far)..
What changed in the latest 10-Q
Risk Factors
Not applicable to smaller reporting companies.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
New heading “for the Three Months Ended June 30, 2026 for the Six Months Ended June 30, 2026”
Removed heading “Comparison of NAV to Index for the Period Ended March 31, 2026”
Largest changes
“for the Three Months Ended June 30, 2026 for the Six Months Ended June 30, 2026”see in full comparison
“Comparison of NAV to Index for the Period Ended March 31, 2026”see in full comparison
see in full comparisonComparisonfor theofThreeNAVMonthstoEndedindexJune 30, 2025 for theperiodPeriod fromfebruaryFebruary 14, 2025(commencement of operations)toMarchJune31,30, 2025^
“The Trust’s net assets decreased from $121,287,477 as of December 31, 2025 to $98,081,994 as of March 31, 2026. For the comparable period, net assets were $88,730,642 for the period from February 14, 2025 (commencement of operations) to March 31, 2025. This change was driven primarily by net capital share transactions totaling $6,335,023, reflecting capital inflows during the Trust’s inaugural year. …”see in full comparison
“The Trust’s net assets increased from $125,608,529 as of June 30, 2025 to $190,069,351 as of June 30, 2026. This change was driven primarily by net capital inflows from the creation of Shares, partially offset by the net decrease in net assets resulting from operations during the period.”see in full comparison
For the three months ended June 30, 2026, compared to the three months endedsee in full comparisonMarchJune31, 2026, compared to the period from February 14, 2025 (commencement of operations) to March 31,30, 2025:
Full comparison: every changed paragraph (16)
As
of MarchJune 31,30, 2026, the crypto asset constituents of the Index Constituents and their weightings were as follows:
The
discussion below addresses material changes in the results of operations for the three months ended MarchJune 31,30, 2026 compared to the three
months ended June 30, 2025 and the six months ended June 30, 2026 compared to the period from February 14, 2025 to MarchJune 31,30, 2025. The
Trust commenced operations on February 14, 2025 and no operations occurred prior to this date.
On
June March 31,30, 2026, the Trust held 8,796,626Index8 Index Constituents with an asset fair value of $98,000,953$189,911,546 and cash of $102,236.$189,347.
The Trust’s net assets increased from $125,608,529 as of June 30, 2025 to $190,069,351 as of June 30, 2026. This change was driven primarily by net capital inflows from the creation of Shares, partially offset by the net decrease in net assets resulting from operations during the period.
The Trust’s net assets decreased from $121,287,477 as of December 31, 2025 to $98,081,994 as of March 31, 2026. For the comparable period, net assets were $88,730,642 for the period from February 14, 2025 (commencement of operations) to March 31, 2025. This change was driven primarily by net capital share transactions totaling $6,335,023, reflecting capital inflows during the Trust’s inaugural year. These inflows were partially offset by a net decrease in net assets resulting from operations of $(29,540,506), which was attributable to the combined effects of the Trust’s operating expenses and the market performance of the underlying Index Constituents held in the portfolio.
For
the three months ended June 30, 2026, compared to the three months ended MarchJune 31, 2026, compared to the period from February 14, 2025 (commencement of operations) to March 31,30, 2025:
For the six months ended June 30, 2026, compared to the period from February 14, 2025 (commencement of operations) to June 30, 2025:
^ The Trust commenced operations on February 14, 2025 and no operations occurred prior to this date.
The
graphs below show the actual Shares outstanding, total net assets and NAV per Share for the Trust from commencement of operations to
June March 31,30, 2026 and servesserve to illustrate the relative changes of these components.
The
following graphs illustrate changes in the Trust’s NAV, as reflected by the graphgraphs “Comparison of NAV to Index” for
the three months ended June 30, 2026 and 2025 and the periodsix months ended MarchJune 31,30, 2026 and the period from February 14, 2025 (commencement of operations) to MarchJune 31, 30,
2025.
for the Three Months Ended June 30, 2026 for the Six Months Ended June 30, 2026
Comparison of NAV to Index for the Period Ended March 31, 2026
The graph
graphs above comparescompare the return of the Trust with the Index returns for the periodthree months ended MarchJune 31,30, 2026 and the six months ended
June 30, 2026. The difference in the NAV price and the Index value often results in the appearance of a NAV premium or discount to the
Index. Differences in the Index and the Trust’s NAV per Share are due to such factors as the Trust’s operating expenses and
transaction costs associated with portfolio rebalancing and cash creation and redemption activities.
Comparisonfor
the ofThree NAVMonths toEnded indexJune 30, 2025 for
the periodPeriod from februaryFebruary 14, 2025 (commencement of operations) to MarchJune 31,30, 2025^
^ The Trust commenced operations on February 14, 2025 and no operations occurred prior to this date.
The graph
graphs above comparescompare the return of the Trust with the Index returns for the three months ended June 30, 2025 and the period from
February 14, 2025 (commencement of operations) to MarchJune 31,30, 2025. The difference in the NAV price and the Index value often results in the appearance of a NAV
premium or discount to the Index. Differences in the Index and the Trust’s NAV per Share are due to such factors as the
Trust’s operating expenses and transaction costs associated with portfolio rebalancing and cash creation and redemption
activities.
NCIQ insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 0 Form 4 filings and open-market sales in 0 filings. Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
No Form 4 stock transactions in this period.
Well-known investors holding NCIQ (13F)
None of the 59 investors we track reported a position in their latest 13F.