Hashdex Nasdaq CME Crypto Index ETF Files Form 8-K: In-Kind Transactions Amendment

Date of Report: February 27, 2026

Trading Symbol: NCIQ
Exchange: NASDAQ
Registrant: Hashdex Nasdaq CME Crypto Index ETF
Tax ID: 33-2103856

Key Points from the Report

• Form 8-K Filing: Hashdex Nasdaq CME Crypto Index ETF (the “Trust”) has filed a Form 8-K with the Securities and Exchange Commission (SEC) announcing a material amendment to its Authorized Participant Agreement.
• Amendment to Allow In-Kind Transactions: The amendment introduces Section 16, “In-Kind Transactions,” to the Authorized Participant Agreement. This enables the Trust to conduct in-kind creation and redemption transactions for its ETF shares, in addition to traditional cash transactions.
• Purpose of the Amendment: The change is aimed at providing flexibility for Authorized Participants to create or redeem ETF shares using the underlying crypto assets (Deposit Assets) instead of cash, potentially improving efficiency and reducing transaction costs.
• Details of In-Kind Transactions:
  • Authorized Participants can deliver or receive crypto assets matching the ETF’s underlying index, rather than cash, when creating or redeeming Creation Units (blocks of 10,000 shares each).
  • The Authorized Participant must meet specific requirements and representations regarding legal compliance and beneficial ownership of the digital assets in question.
• Implementation: The Trust’s ability to conduct in-kind transactions was previously disclosed in Prospectus Supplement No. 12 dated November 12, 2025, and is now formally incorporated into the contractual agreement with Authorized Participants.
• Signatory: The amendment has been executed by Samir Kerbage, Director of the Sponsor and Principal Finance & Accounting Officer of the Trust.
• Emerging Growth Company Status: The ETF is classified as an emerging growth company and has not elected to use the extended transition period for complying with new or revised financial accounting standards.

Important Information for Shareholders

• Potential Price Sensitivity: The amendment allowing in-kind transactions could have material implications for share liquidity, creation/redemption efficiency, and potentially the ETF’s tracking performance versus its underlying index. This change may attract new market participants and enhance arbitrage mechanisms, potentially narrowing the bid-ask spread and improving price discovery.
• Operational Impact: By permitting in-kind transactions, Hashdex Nasdaq CME Crypto Index ETF aligns its operational model with that of many leading ETFs, which can be viewed favorably by institutional investors and market makers, possibly increasing trading volume and investor interest.
• No Immediate Change to Trading Symbol or Exchange: The ETF will continue to trade under the symbol NCIQ on the NASDAQ.
• Additional Information: The full text of the amendment is available as Exhibit 10.1 to the Form 8-K and is incorporated by reference in the filing. For further operational details, the accompanying “Authorized Participant Procedures Handbook” and glossary provide comprehensive definitions and processes for in-kind transactions.

Potential Implications for Share Value

• This amendment represents a significant operational enhancement for the ETF. By providing in-kind creation and redemption, the Trust may become more attractive to Authorized Participants, potentially leading to tighter spreads, improved liquidity, and more efficient arbitrage. This, in turn, could positively influence the ETF’s ability to track its underlying crypto index and make it more competitive compared to other crypto-based ETFs.
• Investors should monitor trading activity and spreads following the implementation of in-kind transactions, as these factors could indicate enhanced market efficiency and impact the share price.

Other Notable Details

• Shares Per Creation Unit: 10,000 shares per Creation Unit.
• Intraday Indicative Value (IIV): NCIUS.IV (for real-time valuation tracking).
• Contact Points: Creation/redemption orders and Trust information are available through the ICE ETF Hub and the Hashdex Asset Management website.

Disclaimer

This article is for informational purposes only and is not intended as investment advice. The information is based on the most recent SEC filings and public disclosures as of February 27, 2026. Investors should conduct their own due diligence and consult with financial professionals before making any investment decisions. The potential impacts described are subject to market, regulatory, and operational risks.

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