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Item 1. Financial Statements

2026-08-12 compared with 2026-05-12 · 81 added, 61 removed, 273 unchanged (34% of the section changed)

Financial Statements.

Index to Financial Statements

Documents Page

HASHDEX NASDAQ CME CRYPTO INDEX ETF

Statement of Assets and Liabilities at March 31, 2026 (Unaudited) and December 31, 2025 F-1

Schedule of Investments at March 31, 2026 (Unaudited) and December 31, 2025 F-2

Statements of Operations for the three months ended March 31, 2026 (Unaudited) and the period from February 14, 2025 through March 31, 2025 (Unaudited) F-4

Statements of Changes in Net Assets for three months ended March 31, 2026 (Unaudited) and the period from February 14, 2025 through March 31, 2025 (Unaudited) F-5

Notes to Financial Statements (Unaudited) F-6

Hashdex Nasdaq CME Crypto Index ETF

Statement of Assets and Liabilities

2026 (Unaudited) December 31,

to Financial Statements

NASDAQ CME CRYPTO INDEX ETF

Statements of Assets and Liabilities at June 30, 2026 (Unaudited) and December 31, 2025

Schedule of Investments at June 30, 2026 (Unaudited) and December 31, 2025

Statements of Operations for the three months ended June 30, 2026 and 2025 (Unaudited), the six months ended June 30, 2026 (Unaudited) and the period from February 14, 2025 through June 30, 2025 (Unaudited)

Statements of Changes in Net Assets for the three months ended June 30, 2026 and 2025 (Unaudited), the six months ended June 30, 2026 (Unaudited) and the period from February 14, 2025 through June 30, 2025 (Unaudited)

Notes to Financial Statements (Unaudited)

Nasdaq CME Crypto Index ETF

of Assets and Liabilities

Investments in Crypto Assets, at fair value (cost $ 244,687,330 and $ 123,262,904 , respectively) $ 189,911,546 $ 121,199,193

12 unchanged sentences

Net Asset Value per Share $ 14.58 $ 22.71

The accompanying notes are an integral part of these financial statements.

Hashdex Nasdaq CME Crypto Index ETF

Schedule of Investments

March 31, 2026

Assets Fair Value Percentage of

Net Assets Quantity

accompanying notes are an integral part of these financial statements.

Nasdaq CME Crypto Index ETF

of Investments

Percentage of

Crypto Assets

4 unchanged sentences

Cardano 885,618 0.47 % 6,124,604

Chainlink 368,034 0.38 % 41,988

Stellar 782,824 0.41 % 4,212,133

Chainlink 696,899 0.37 % 96,805

Bitcoin Cash 475,730 0.25 % 2,378

Total Crypto Assets (cost $ 244,687,330 ) $ 189,911,546 99.92 %

2 unchanged sentences

Total Net Assets $ 190,069,351 100.00 %

The accompanying notes are an integral part of these financial statements.

Hashdex Nasdaq CME Crypto Index ETF

Schedule of Investments

December 31, 2025

Assets Fair Value Percentage of

Net Assets Quantity

accompanying notes are an integral part of these financial statements.

Nasdaq CME Crypto Index ETF

of Investments

Percentage of

Crypto Assets

10 unchanged sentences

Total Net Assets $ 121,287,477 100.00 %

The accompanying notes are an integral part of these financial statements.

Hashdex Nasdaq CME Crypto Index ETF

Statements of Operations

accompanying notes are an integral part of these financial statements.

Nasdaq CME Crypto Index ETF

of Operations

Three Months Ended

(Unaudited) For the

February 14, 2025^

Three Months Ended

Six Months Ended

2025* through

INVESTMENT INCOME (LOSS)

2 unchanged sentences

Management fees 77,205 134,806 209,780 158,063

Other — — — 50

Total Expenses 77,205 134,806 209,780 158,113

6 unchanged sentences

Net realized and change in unrealized gain (loss) ( 23,828,927 ) 27,945,817 ( 53,303,145 ) 24,004,431

NET DECREASEIN NET ASSETS RESULTING FROM OPERATIONS $ ( 29,540,506 ) $ ( 3,953,064 )

The accompanying notes are an integral part of these financial statements.

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $ ( 23,906,132 ) $ 27,878,414 $ ( 53,446,638 ) $ 23,925,350

* Commencement of operations.

No operations occurred prior to this date.

Hashdex Nasdaq CME Crypto Index ETF

Statements of Changes in Net Assets

accompanying notes are an integral part of these financial statements.

Nasdaq CME Crypto Index ETF

of Changes in Net Assets

Three Months Ended

(Unaudited) For the

Three Months Ended

Six Months Ended

2025* through

INCREASE (DECREASE) IN NET ASSETS:

2 unchanged sentences

Net change in unrealized appreciation (depreciation) ( 23,556,362 ) 27,948,504 ( 52,712,073 ) 24,203,020

Net decrease in net assets resulting from operations ( 29,540,506 ) ( 3,953,064 )

Net increase (decrease) in net assets resulting from operations ( 23,906,132 ) 27,878,414 ( 53,446,638 ) 23,925,350

CAPITAL SHARE TRANSACTIONS

6 unchanged sentences

End of Period $ 190,069,351 $ 125,608,529 $ 190,069,351 $ 125,608,529

The accompanying notes are an integral part of these financial statements.

* Commencement of operations.

No operations occurred prior to this date.

Hashdex Nasdaq CME Crypto Index ETF

NOTES TO FINANCIAL STATEMENTS

accompanying notes are an integral part of these financial statements.

Nasdaq CME Crypto Index ETF

TO FINANCIAL STATEMENTS

Hashdex Nasdaq CME Crypto Index ETF (f/k/a Hashdex Nasdaq Crypto Index US ETF, prior to January 20, 2026) (the “Trust”) is a Delaware statutory trust organized on July 12, 2024.

40 unchanged sentences

Cash includes non-interest bearing non-restricted cash with one institution and is subject to credit risk to the extent its balance exceeds the federally insured limits.

As of March 31, 2026 and December 31, 2025, the Trust’s balance did not exceed the federally insured limits.

As of June 30, 2026 and December 31, 2025, the Trust’s balance did not exceed the federally insured limits.

Investment Transactions and Investment Income

8 unchanged sentences

Accordingly, the Trust does not recognize or record any airdropped crypto assets.

During the period ended March 31, 2026 and March 31, 2025, the Trust irrevocably abandoned all airdropped crypto assets received at its custodial addresses.

During the period ended June 30, 2026 and June 30, 2025, the Trust irrevocably abandoned all airdropped crypto assets received at its custodial addresses.

No value was recognized in connection with any such airdrops.

9 unchanged sentences

The Trust recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed.

No interest expense or penalties have been recognized as of and for the fiscal period ended March 31, 2026 and March 31, 2025.

No interest expense or penalties have been recognized as of and for the fiscal period ended June 30, 2026 and June 30, 2025.

Valuation of Crypto Assets

16 unchanged sentences

representing the Trust’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following table summarizes the valuation of investments as of March 31, 2026 and December 31, 2025 using the fair value hierarchy:

March 31, 2026

Level 1 Level 2 Level 3 Balance as of

March 31, 2026

The following table summarizes the valuation of investments as of June 30, 2026 and December 31, 2025 using the fair value hierarchy:

June 30, 2026 (Unaudited)

Level 1 Level 2 Level 3 Balance

Cryptocurrency $ 189,911,546 $ — $ — $ 189,911,546

1 unchanged sentence

December 31, 2025

Level 1 Level 2 Level 3 Balance as of

December 31, 2025

Level 1 Level 2 Level 3 Balance

Cryptocurrency $ 121,199,193 $ — $ — $ 121,199,193

Total $ 121,199,193 $ — $ — $ 121,199,193

There were no transfers between Level 1 and other levels for the fiscal period ended March 31, 2026 and December 31, 2025.

There were no transfers between Level 1 and other levels for the fiscal period ended June 30, 2026 and December 31, 2025.

The cost basis of the investment of crypto assets recorded by the Trust for financial reporting purposes is the fair value of such crypto assets at the time of purchase.

11 unchanged sentences

Investment in Crypto Assets

The following represents the changes in fair value of crypto assets held by the Trust during the three months ended March 31, 2026 and the period from February 14, 2025* through December 31, 2025:

The following represents the changes in fair value of crypto assets held by the Trust during the six months ended June 30, 2026 and the period from February 14, 2025* through December 31, 2025:

Beginning balance as of January 1, 2026 $ 121,199,193

5 unchanged sentences

Change in Unrealized Depreciation ( 52,712,073 )

Ending balance as of March 31, 2026 $ 98,000,953

Ending balance as of June 30, 2026 $ 189,911,546

Beginning balance as of February 14, 2025* $ —

8 unchanged sentences

No operations occurred prior to this date.

Trust Expenses and Other Agreements

Trust Expenses

The Trust pays the Sponsor a management fee (the “Management Fee”), monthly in arrears, in an amount equal to 0.25 % per annum of the daily NAV of the Trust.

35 unchanged sentences

Capital share transactions in the Trust were as follows:

(Unaudited) For the

2025 (Unaudited)

Three months ended

(Unaudited) Three months ended

(Unaudited) Six months ended

(Unaudited) Period February 14,

2025* through

Shares issued 7,350,000 340,000 7,700,000 4,640,000

9 unchanged sentences

The Trust commenced operations on February 14, 2025, which is the date used as the inception date for purposes of these financial statements.

As of March 31, 2026, and December 31, 2025 the Trust has a liability to the Sponsor of $ 21,195 and $ 26,623 , respectively, for the March Management Fee.

As of June 30, 2026, and December 31, 2025 the Trust has a liability to the Sponsor of $ 31,542 and $ 26,623 , respectively, for the June Management Fee.

The Hashdex Nasdaq Crypto Index Fund (“NCI”), a fund managed by the Sponsor, holds 4,000,000 Shares.

21 unchanged sentences

and a loss of investor confidence.

In addition to bitcoin, the Fund holds investments in other crypto assets, including Ethereum, XRP, Solana, Cardano, Chainlink, and Stellar, which collectively represented approximately 23 % and 25 % of the Fund's net assets as of March 31, 2026 and December 31, 2025, respectively.

In addition to bitcoin, the Trust holds investments in other crypto assets, including Ethereum, XRP, Solana, Cardano, Chainlink, Stellar, and Bitcoin Cash which collectively represented approximately 21 % and 25 % of the Trust’s net assets as of June 30, 2026 and December 31, 2025, respectively.

These crypto assets are subject to risks similar to those of bitcoin, including price volatility, regulatory uncertainty, and limited adoption.

A decline in the value of any of these assets, or adverse developments affecting the broader crypto asset market, could also have a material adverse effect on the Fund's net asset value.

A decline in the value of any of these assets, or adverse developments affecting the broader crypto asset market, could also have a material adverse effect on the Trust’s net asset value.

Financial Highlights

March 31, 2026

(Unaudited) For the

Three Months Ended

June 30, 2026

(Unaudited) Three Months Ended

June 30, 2025

(Unaudited) Six Months Ended

June 30, 2026

(Unaudited) Period February 14,

June 30, 2025

Net asset value per share, beginning of period $ 17.24 $ 20.88 $ 22.71 $ 25.00

1 unchanged sentence

Net realized and unrealized gain (loss) (2) ( 2.65 ) 6.51 ( 8.11 ) 2.39

Net decrease in net assets from operations $ ( 5.47 ) $ ( 4.12 )

Net (decrease) increase in net assets from operations ( 2.66 ) 6.49 ( 8.13 ) 2.37

Net asset value per share, end of period $ 14.58 $ 27.37 $ 14.58 $ 27.37

10 unchanged sentences

(4) Percentages are annualized.

(5) Includes activity for the period from January 1, 2026 through March 31, 2026 and February 14, 2025 (commencement of operations) through March 31, 2025.

(5) Includes activity for the period from February 14, 2025 (commencement of operations) through June 30, 2025.

Subsequent Events

In preparing these financial statements, management of the Trust has evaluated the financial statements for the period ended March 31, 2026 for subsequent events through the date of this filing and noted no material events requiring either recognition through the date of the filing or disclosure herein for the Trust.

In preparing these financial statements, management of the Trust has evaluated the financial statements for the period ended June 30, 2026, and for subsequent events through the date of this filing.

Other than as described below, management noted no material events requiring either recognition or disclosure in the financial statements.

Staking of the Trust’s Crypto Assets.

On July 23, 2026, the Trust entered into a Third Amendment to the Sponsor Agreement with the Sponsor to permit staking of the Trust’s crypto assets.

On the same date, the Sponsor and CSC Delaware Trust Company, as Trustee, entered into a Sixth Amended and Restated Trust Agreement (the “Amended Trust Agreement”) reflecting the changes necessary to allow the Trust to commence staking activities.

Among other things, the Amended Trust Agreement authorizes the Trust to participate, directly or indirectly, in the proof-of-stake validation protocols of the applicable Index Constituent networks, and creates a separate class of unlisted shares designated as the Sponsor Share, held exclusively by the Sponsor, which entitles the Sponsor to an allocation of Net Staking Income generated by the Trust’s staking activities.

Under the Amended Trust Agreement, after the staking services provider retains its portion of any staking income, the remaining Net Staking Income is allocated as follows:

(i) 100 % of Net Staking Income up to an amount equal to 25 basis points of the Trust’s net asset value attributable to the Common Shares (on an annualized basis) is allocated to the Sponsor, as holder of the Sponsor Share;

and (ii) any Net Staking Income in excess of that threshold is allocated 40 % to the Sponsor, as holder of the Sponsor Share, and 60 % to the Trust for the benefit of holders of the Common Shares.

The Trust expects to commence staking activities promptly following the effectiveness of these agreements, subject to operational readiness.

Staking activities are expected to be conducted through Coinbase Cloud Pte.

Ltd., as the Trust’s initial staking services provider.

A description of the Trust’s staking program, including the Sponsor Share, the allocation of staking income, the Trust’s liquidity risk policies and procedures, and the associated risk factors, is set forth in Prospectus Supplement No.

1, dated July 23, 2026, filed pursuant to Rule 424(b)(3).

These agreements were entered into subsequent to June 30, 2026 and had no effect on the financial statements as of and for the period ended June 30, 2026.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements