Hashdex ETF Posts Q2 Loss Amid Crypto Slide; Staking Program Gets Green Light
NCIQ is trading near its 52-week low of $14.38 (9.8% above the low) on light trading volume (0.3× avg).
Summary
Hashdex Nasdaq CME Crypto Index ETF reported a 15.4% quarterly NAV decline to $14.58 on crypto price weakness, but net assets nearly doubled to $190.1 million on strong inflows. The fund also cut its management fee and approved a staking program.
Key Events · Earnings and Guidance · NCIQ
-
Q2 NAV Declines 15.4%
Net asset value per share fell to $14.58 from $17.24 at Q1 end, driven by a $23.9 million net loss from operations as crypto prices dropped.
-
Net Assets Nearly Double
Total net assets rose to $190.1 million from $98.1 million at Q1 end, fueled by $115.9 million in share creations during the quarter.
-
Management Fee Cut to 0.25%
Effective March 16, 2026, the sponsor reduced the management fee from 0.50% to 0.25% per annum, lowering the expense ratio.
-
Staking Program Approved
On July 23, 2026, the trust amended agreements to permit staking of crypto assets, with net staking income allocated 100% to the sponsor up to 25 bps of NAV, then 40% to sponsor and 60% to common shareholders.
Analysis · NCIQ · Crypto Assets
A 15.4% drop in net asset value per share to $14.58 during Q2 2026 reflects a $23.9 million net loss from operations as crypto prices fell. Yet net assets nearly doubled to $190.1 million on strong share creations, signaling continued investor inflows despite the drawdown. The management fee cut to 0.25% and the newly approved staking program are positive structural changes that could enhance returns going forward.
At the time of this filing, NCIQ was trading at $15.80 on NASDAQ in the Crypto Assets sector. The 52-week trading range was $14.38 to $34.26. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.