Hashdex Nasdaq CME Crypto Index ETF 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information The Shares are listed on the Exchange under the symbol “NCIQ” and have been listed since February 14, 2025. The Trust’s Shares may trade in the secondary market at prices that are at, above, or below the NAV per Share. The NAV is calculated on each Business Day as of the close of regular trading on the Exchange, normally 4:00 p.m. E.T. The Trust does not buy or sell Shares in the secondary market. Holders As of December 31, 2025, there was approximately 1 DTC participating shareholder of record of the Trust. Because most of the Trust’s Shares are held by brokers and other institutions on behalf of shareholders, we are unable to estimate the total number of shareholders represented by these record holders. Dividends The Trust has not declared or paid any cash dividends on its Shares since its inception and does not anticipate paying any cash dividends in the foreseeable future. Sales of Unregistered Securities On January 21, 2025, in a transaction exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), the Trust sold one Basket of 10,000 Shares (the “Audit Seed Creation Basket”) to the Sponsor for an aggregate purchase price of $250,000 (based on a per-Share price of $25.00). The proceeds from the sale of the Audit Seed Creation Basket were not converted to Index Constituents. The Audit Seed Creation Basket was redeemed for cash on February 13, 2025. Use of Proceeds from Registered Securities On February 13, 2025, the Trust’s registration statement on Form S-1 (File No. 333-280990) was declared effective, pursuant to which the Trust registered an unlimited number of Shares. The Trust’s Shares began trading on the Exchange on February 14, 2025 and since that date, and up to December 31, 2025 (excluding any redemptions), the Trust sold 5,580,000 Shares for aggregate proceeds of $129,294,147. The Trust seeks to use substantially all of the proceeds of the offering of the Shares of the Trust to make investments in Index Constituents in a manner consistent with its investment objective. The Trust may also hold cash and cash equivalents (i) pending investments in Index Constituents, (ii) until delivered to Authorized Participants in connection with redemptions of Baskets, and (iii) until transferred to pay the Management Fee and other Trust expenses or liabilities not assumed by the Sponsor. 29 Issuer Purchases of Equity Securities Although the Trust does not purchase Shares directly from its shareholders, in connection with its redemption of Baskets, the Trust redeemed 240,000 Shares (24 Baskets) during the year ended December 31, 2025, including 100,000 Shares (10 Baskets) for the three months ended December 31, 2025, as set forth in the table below. Period Total Shares Redeemed Average Price Per Share Redeemed 2/14/2025 (commencement of operations) - 3/31/2025 50,000 21.20 4/1/2025 - 6/30/2025 - - 7/1/2025 - 9/30/2025 90,000 30.93 10/1/2025 - 12/31/2025 100,000 22.33 Total 240,000 (1) 25.32 (1) The initial seed creation of 10,000 Shares occurred on January 21, 2025, at a per-Share price of $25.00. These initial seed Shares were subsequently redeemed on February 13, 2025, at $25.00 per Share, for a total redemption amount of $250,000. The Fund commenced operations on February 14, 2025, which is the date used as the inception date for purposes of these financial statements. Accordingly, the seed Share creation and redemption are not reflected in the Share activity or financial highlights presented herein. The quarterly reports on Form 10-Q filed during the fiscal year used January 21, 2025 (the initial seed creation date) as the inception date and therefore included this seed redemption activity in their reported figures. The following table summarizes the redemptions during the quarter ended December 31, 2025: Period Total Shares Redeemed Average Price Per Share Redeemed October 1, 2025 – October 31, 2025 - - November 1, 2025 – November 30, 2025 - - December 1, 2025 – December 31, 2025 100,000 22.33 Total 100,000 22.33 Item 6. [Reserved]