The U.S. crypto investment landscape has taken a significant leap forward with the launch of the Hashdex Nasdaq Crypto Index US ETF (NCIQ), now trading on the Nasdaq Stock Market® under the ticker NCIQ. This groundbreaking exchange-traded product (ETP) marks the first time American investors can gain exposure to both spot bitcoin (BTC) and ether (ETH) through a single, regulated, and tradeable vehicle.
Backed by a strategic partnership between Hashdex, a global leader in crypto asset management, and Nasdaq Global Indexes, the NCIQ is designed to offer a passive, rules-based investment solution that tracks the Nasdaq Crypto US™ Index (NCIUS™). This benchmark focuses on institutional-grade crypto assets, selected based on strict criteria including liquidity, market capitalization, and regulatory compliance.
Currently, only Bitcoin and Ether meet the eligibility requirements for inclusion in the NCIUS, reflecting their dominant positions in the U.S. crypto market. Together, these two digital assets represent over $2.3 trillion in combined market capitalization, making NCIQ one of the most strategically positioned crypto ETPs available to U.S. investors.
A New Era in U.S. Crypto Investing
For years, U.S. investors interested in crypto have been limited to either purchasing individual coins directly or investing in single-asset ETFs. The launch of NCIQ changes that dynamic by offering a diversified, multi-asset approach within a familiar ETF structure.
“This is a pivotal moment for crypto adoption in the United States,” said Marcelo Sampaio, Co-Founder and CEO of Hashdex. “We believe a basket of leading crypto assets provides a more balanced and resilient way for investors to participate in this transformative ecosystem. With NCIQ, we’re delivering a product that’s not only innovative but also intuitive for traditional investors.”
The NCIQ comes with a competitively low management fee of 0.25% per annum through 2025, after which it will rise to 0.50%. This pricing model underscores Hashdex’s commitment to accessibility and long-term investor value.
Built on Institutional-Grade Infrastructure
The Nasdaq Crypto US™ Index (NCIUS™) was co-developed by Hashdex and Nasdaq Global Indexes to provide a transparent, rules-based benchmark for the evolving crypto market. By focusing exclusively on spot exposure—rather than futures or derivatives—NCIQ ensures investors gain direct economic interest in the underlying assets.
Cameron Lilja, Vice President and Global Head of Index Product and Operations at Nasdaq Global Indexes, emphasized the importance of standardization: “Our goal has always been to bring clarity and consistency to the crypto asset class. The NCIUS offers a reliable framework for measuring performance across major digital assets, serving as a trusted guidepost in this fast-moving space.”
This institutional rigor extends to custody and operations. Coinbase Custody and BitGo Trust serve as crypto custodians, ensuring secure storage of the underlying assets. U.S. Bank Global Fund Services acts as fund administrator, while Paralel Distributors LLC handles marketing distribution.
Why Multi-Asset Exposure Matters
Crypto markets are known for their volatility and rapid innovation. While Bitcoin remains the flagship digital asset, Ethereum continues to lead in decentralized applications and smart contracts. Holding both provides investors with broader exposure to different use cases and technological foundations within the blockchain ecosystem.
Samir Kerbage, CIO at Hashdex, explained: “As new projects emerge and market dynamics shift, index-based products like NCIQ allow investors to stay diversified without needing to actively manage multiple positions. It’s a proven strategy—similar to traditional index funds—that brings simplicity and discipline to crypto investing.”
This passive approach is particularly appealing to wealth managers and long-term investors seeking to integrate crypto into broader portfolios without overexposure to any single asset.
Global Leadership Meets U.S. Market Access
Hashdex has been at the forefront of crypto ETF innovation since 2021, when it launched the world’s first multi-asset crypto ETF on the Bermuda Stock Exchange. Today, the firm manages over $1.3 billion in assets under management (AUM) and offers index products across multiple regions.
Its European-listed ETP, HASH, is recognized as the largest multi-asset crypto ETP in Europe and recently won ETF Stream’s Digital Asset ETP of the Year award. Similarly, its Latin American fund, HASH11, holds the title of largest multi-asset crypto ETF in the region.
With NCIQ, Hashdex brings this global expertise to U.S. investors at a time when demand for crypto ETFs has surged past $120 billion in U.S. AUM.
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Frequently Asked Questions (FAQ)
Q: What is the Hashdex Nasdaq Crypto Index US ETF (NCIQ)?
A: NCIQ is an exchange-traded product that provides U.S. investors with direct spot exposure to both Bitcoin and Ether through a single tradable security listed on Nasdaq.
Q: How does NCIQ differ from other crypto ETFs?
A: Unlike single-asset Bitcoin or Ethereum ETFs, NCIQ offers diversified exposure to both leading cryptocurrencies in one product, making it the first multi-asset spot crypto ETP available in the U.S.
Q: What index does NCIQ track?
A: The ETF tracks the Nasdaq Crypto US™ Index (NCIUS™), which includes only crypto assets meeting strict criteria for liquidity, market cap, and regulatory compliance.
Q: Is NCIQ regulated?
A: Yes, NCIQ is registered with the SEC and trades on Nasdaq. However, it is not an investment company under the Investment Company Act of 1940, so it does not have the same protections as traditional mutual funds.
Q: What are the main risks of investing in NCIQ?
A: Crypto assets are highly volatile and speculative. Regulatory uncertainty, market illiquidity, technological risks, and potential fraud are key concerns. Investors should carefully review the prospectus before investing.
Q: Where can I find more information about NCIQ?
A: The official registration statement and prospectus are available through the SEC’s EDGAR database at www.sec.gov.
Looking Ahead
As the crypto market matures and regulatory frameworks evolve, products like NCIQ are poised to play a central role in mainstream financial integration. By combining Hashdex’s innovation with Nasdaq’s index leadership, NCIQ sets a new standard for accessible, transparent, and diversified crypto investing in the United States.
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