Hashdex Crypto ETF Files for Nasdaq Index Tracking
Ticker: NCIQ · Form: S-1 · Filed: Jul 24, 2024 · CIK: 2031069
| Field | Detail |
|---|---|
| Company | Hashdex Nasdaq Crypto Index Us Etf (NCIQ) |
| Form Type | S-1 |
| Filed Date | Jul 24, 2024 |
| Risk Level | medium |
| Pages | 14 |
| Reading Time | 17 min |
| Key Dollar Amounts | $1.235, $700, $1.0 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ETF, cryptocurrency, filing, Nasdaq
TL;DR
Hashdex's crypto ETF is filing to go public, tracking Nasdaq's index.
AI Summary
Hashdex Nasdaq Crypto Index US ETF filed an S-1 registration statement on July 24, 2024, to offer shares of its exchange-traded fund. Sponsored by Hashdex Asset Management Ltd., the ETF aims to track the performance of the Nasdaq Crypto Index. The filing indicates the ETF will be incorporated in Delaware and its shares will be offered as soon as practicable after the registration statement becomes effective.
Why It Matters
This filing signals Hashdex's intention to launch a new crypto-focused ETF, potentially increasing accessibility and investment in digital assets through a regulated financial product.
Risk Assessment
Risk Level: medium — The ETF's performance is tied to the volatile cryptocurrency market, and regulatory uncertainties surrounding digital assets can pose significant risks.
Key Numbers
- 333-280990 — SEC File Number (Identifies this specific SEC filing)
- 0002031069 — Central Index Key (Unique identifier for the registrant)
Key Players & Entities
- Hashdex Nasdaq Crypto Index US ETF (company) — Registrant and ETF name
- Hashdex Asset Management Ltd. (company) — Sponsor of the ETF
- Nasdaq Crypto Index (company) — Index the ETF aims to track
- July 24, 2024 (date) — Date of S-1 filing
- Delaware (location) — State of incorporation
- Adam T. Teufel (person) — Legal counsel contact
- Dechert LLP (company) — Legal counsel for the filing
FAQ
What is the primary investment objective of the Hashdex Nasdaq Crypto Index US ETF?
The ETF aims to track the performance of the Nasdaq Crypto Index.
Who is sponsoring the Hashdex Nasdaq Crypto Index US ETF?
The ETF is sponsored by Hashdex Asset Management Ltd.
When was the S-1 registration statement filed?
The S-1 registration statement was filed on July 24, 2024.
In which U.S. state is the Hashdex Nasdaq Crypto Index US ETF incorporated?
The ETF is incorporated in Delaware.
Who represents the legal counsel for this S-1 filing?
Dechert LLP, with Adam T. Teufel as a contact, represents the legal counsel for this filing.
Filing Stats: 4,231 words · 17 min read · ~14 pages · Grade level 14.9 · Accepted 2024-07-24 17:16:20
Key Financial Figures
- $1.235 — n the earliest of: (i) it having $1.235 billion or more in annual revenu
- $700 — n annual revenues, (ii) at least $700 million in market value of Commo
- $1.0 — tes , (iii) it issuing more than $1.0 billion of non -convertib
Filing Documents
- ea0209567-01.htm (S-1) — 1267KB
- ea020956701ex3-1_hashdex.htm (EX-3.1) — 23KB
- ea020956701ex3-2_hashdex.htm (EX-3.2) — 6KB
- ea020956701ex-fee_hashdex.htm (EX-FILING FEES) — 26KB
- timage_001.jpg (GRAPHIC) — 38KB
- timage_002.jpg (GRAPHIC) — 48KB
- timage_003.jpg (GRAPHIC) — 67KB
- timage_004.jpg (GRAPHIC) — 53KB
- timage_005.jpg (GRAPHIC) — 14KB
- timage_006.jpg (GRAPHIC) — 4KB
- timage_007.jpg (GRAPHIC) — 4KB
- 0001013762-24-000785.txt ( ) — 1638KB
RISK FACTORS
RISK FACTORS   8
USE OF PROCEEDS
USE OF PROCEEDS   45 OVERVIEW OF THE INDEX CONSTITUENTS’ INDUSTRY   46 Bitcoin Industry   46 Ethereum Industry   47 BUSINESS OF THE TRUST   48 Trust Objective   48 The Trust’s Benchmark   49 Custody of Crypto Assets   54 Calculating NAV   56 Secondary Market Transactions   57 CREATION AND REDEMPTION OF SHARES   58 Issuance of Baskets   58 Redemption of Baskets   60 THE TRUST AGREEMENT   62 Authority of the Sponsor   62 The Sponsor’s Obligations   62 Liability and Indemnification   62 Withdrawal of the Sponsor   63 Meetings   63 Voting Rights   64 Limited Liability of Shareholders   64 THE SECURITIES DEPOSITORY; BOOK-ENTRY-ONLY SYSTEM; GLOBAL SECURITY   65 THE TRUST’S SERVICE PROVIDERS   66 Sponsor   66 Administrator   66 Trustee   66 Cash Custodian, Registrar, Transfer Agent, Sub-Administrator   67 Crypto Custodians   69 Marketing Agent   69 Support Agent   70 AML/KYC   70 Other Non-Contractual Payments by the Trust   71 U.S. FEDERAL INCOME TAX CONSEQUENCES   72 PLAN OF DISTRIBUTION   82 ERISA AND RELATED CONSIDERATIONS   83 CONFLICTS OF INTEREST   84 FISCAL YEAR   86 i Table of Contents   Page PROVISIONS OF LAW   87 BOOKS AND RECORDS   88   89 GOVERNING LAW; CONSENT TO DELAWARE JURISDICTION   90 LEGAL MATTERS   91 EXPERTS   92 INTELLECTUAL PROPERTY   93 PRIVACY POLICY   94 WHERE YOU CAN FIND MORE INFORMATION   95 GLOSSARY �
Use of Proceeds
Use of Proceeds   Proceeds received by the Trust from the issuance and sale of Baskets consist of cash deposits. Such cash deposits are held by the Cash Custodian on behalf of the Trust until (i) transferred in connection with the purchase of the Index Constituents, (ii) delivered to Authorized Participants (as defined below) in connection with a redemption of Baskets or (ii) transferred to pay the fee due to the Sponsor and Trust expenses or liabilities not assumed by the Sponsor. Proposed Exchange Symbol   [•] Creation and Redemption &