8-K: Hashdex ETF Renames, Adopts New Crypto Index

Hashdex Nasdaq CME Crypto Index ETF announced a name change and a shift to the Nasdaq CME Crypto Settlement Price Index, aligning with updated SEC-approved listing standards without altering its investment objective or risk profile.

Summary

• The Trust changed its name from Hashdex Nasdaq Crypto Index US ETF to Hashdex Nasdaq CME Crypto Index ETF, effective January 20, 2026.
• The underlying index transitioned from the Nasdaq Crypto US Settlement Price Index (NCIUSS) to the Nasdaq CME Crypto Settlement Price Index (NCIS), also effective January 20, 2026.
• These changes follow updates made by The Nasdaq Stock Market, LLC on October 30, 2025, to align digital asset eligibility criteria with SEC-approved generic listing standards.
• The Index Transition will not result in any material change to the Trust's investment objective, portfolio composition, or risk profile.
• A Fifth Amended and Restated Trust Agreement was entered into by the Sponsor and Trustee to reflect these conforming changes.

Sentiment

Score: 6

Explanation: The filing details a planned, conforming change to the ETF's name and underlying index, driven by regulatory alignment. While not a performance update, the explicit statement that there will be no material change to investment objective or risk profile is a positive for stability and regulatory compliance, indicating a well-managed transition.

Positives

• The index change aligns digital asset eligibility criteria with SEC-approved generic listing standards, enhancing regulatory compliance and market transparency.
• The transition will not result in any material change to the Trust's investment objective, portfolio composition, or risk profile, ensuring continuity for investors.
• Both the old and new indexes apply substantially identical methodologies and reflect the same constituents and weightings as of the transition date.

Risks

• The Trust may be terminated if the SEC determines it is an investment company under the 1940 Act.
• The Trust may be terminated if the CFTC determines it is a commodity pool under the Commodity Exchange Act.
• The Trust may be terminated if it is determined to be a money service business or money transmitter under FinCEN or state regulations and required to comply with licensing.
• Termination could occur if a United States regulator requires the Trust to shut down or liquidate its Index Constituents.
• The Trust may be terminated if any ongoing event prevents or makes impractical a fair determination of the Index Constituents' price for NAV calculation.
• Termination is possible if the aggregate net assets of the Trust in relation to operating expenses make continuation unreasonable or imprudent.
• The Trust may be terminated if it fails to qualify for, or ceases to be treated as, a partnership for U.S. federal income tax purposes.
• If the Trust's cash balance is insufficient to pay fees and expenses, it may need to sell crypto assets, which could impact holdings.
• Authorized Participants bear the dollar cost difference if the price realized in buying Index Constituents is higher than the NAV price on trade date for cash creations, or if the price realized in selling Index Constituents is lower than the NAV price for cash redemptions.

Future Outlook

The index transition is not expected to materially alter the Trust's investment objective, portfolio composition, or risk profile. The Sponsor retains discretion to manage Incidental Rights and IR Virtual Currency, including potential sales, distributions, or abandonment, and will adapt operations to comply with any future regulatory determinations regarding the Trust's classification (e.g., investment company, commodity pool, money transmitter).

Management Comments

• The Index Transition will not result in any material change to the Trust's investment objective, portfolio composition, or risk profile, and will primarily update the naming of the index referenced by the Trust.

Industry Context

This announcement reflects a broader industry trend towards increased regulatory clarity and standardization in the digital asset space, particularly for exchange-traded products. The alignment of the ETF's underlying index with Nasdaq's SEC-approved generic listing standards indicates a proactive approach to meeting evolving regulatory expectations for crypto-linked financial products.

Corporate Governance

Related Party Transactions

• The Sponsor may engage affiliates to perform services for the Trust, provided the affiliate is qualified, terms are no less favorable than from unaffiliated third parties, and agreements are terminable without penalty on 120 days' notice and have a maximum term of one year (except for selling agreements).
• The Sponsor or any affiliate may be reimbursed only for the actual cost of expenses advanced on behalf of the Trust for which the Trust is responsible.
• Payment to the Sponsor or affiliates for indirect expenses (e.g., salaries, rent, overhead) incurred in performing services is prohibited.

Stakeholder Impact

• Shareholders: No material change to investment objective, portfolio composition, or risk profile. The changes are primarily administrative and regulatory-driven.
• Regulatory Authorities: The changes align the Trust with SEC-approved generic listing standards, potentially improving regulatory standing and transparency.

Next Steps

• The Sponsor will continue to manage the Trust's operations, including the calculation of Net Asset Value (NAV) and Indicative Trust Value (ITV).
• The Sponsor will determine actions regarding Incidental Rights or IR Virtual Currency, which may include selling, distributing in-kind, using for fees, or abandoning them.
• The Trust will adapt its operations to comply with any future regulatory determinations (e.g., if deemed an investment company, commodity pool, or money transmitter).

Key Dates

Keywords

Hashdex, Nasdaq, CME, Crypto Index ETF, ETF, Cryptocurrency, Digital Assets, SEC, Form 8-K, Index Change, Trust Agreement, Corporate Governance, NCIQ