Insights & Education

Jul 15, 2026

Market Pulse Q2'26

The Market Pulse analyzes the events of the past quarter, evaluates the market outlook, assesses the inherent risks, and highlights how the portfolio can benefit from these dynamics.

Inside the NCI

Sep 21, 2026

The US House takes the first step toward a Bitcoin strategic reserve. Deutsche Bank is coming. The SEC set the rules.

NCI surged 5.8% reversing prior -3.2%, DECOUPLING from risk assets despite Fed plus BOJ rate hikes. HYPE led +19.7%, all constituents except XRP (+4.2%) outperformed BTC. Catalyst: SEC regulated tokenized equities plus Deutsche Bank custody incoming plus US House Bitcoin reserve approval. CIO: crypto positive at 'toughest moment of year' = lack of marginal sellers signals solid floor. Range upside massive (3,700-4,300, 80K-88K). CLARITY Act postponed but regulatory path now clear.

Inside the NCI

Sep 14, 2026

1 billion people now hold crypto. Nubank just brought stablecoins to Latin America's biggest bank.

NCI fell 3.2% breaking three-week winning streak. Iran-US escalation (oil >$100) plus inflation above expectations elevated FOMC rate hike odds, melting sentiment. BTC approached $77K, only ETH positive (+0.6%). HYPE/SOL/LINK gave back prior gains. But adoption advancing: 1B people hold crypto (12.2% global population), Nubank Nu Global (USDC/EURC), Solana 3x transaction capacity. CIO: binary week (FOMC plus CLARITY Act Senate vote). Range maintains 3,400-4,100 but negative rate scenario weighing.

Inside the NCI

Sep 08, 2026

21 banks including Goldman and Santander are building a dollar stablecoin together

NCI rose 1.1% third consecutive week despite Iran strikes plus Fed signaling against September cut. HYPE added in rebalancing (+9.9%), ADA led +7.8%, LINK +6.9%. Critical catalyst: Strategy resumed BTC purchases (4,603 BTC, $370M) after 10 weeks, removing selling pressure that plagued mid-year. 21-bank consortium (Goldman/BofA/Santander) issuing USD stablecoin H1 2027. CIO maintains range (3,400-4,100) but warns: September may bring turbulence (FOMC, CLARITY Act, Glamsterdam).

Hashdex Announcements

Sep 01, 2026

Hashdex Announces Addition of HYPE to NCIQ Multi-Asset Spot ETF

HYPE's inclusion follows its addition to the Nasdaq CME Crypto Index (NCI) after satisfying the index's strict eligibility criteria

CIO Notes

Sep 01, 2026

The Compressed Spring

Bitcoin volatility crashed, then exploded: inside the $2.7B short squeeze that moved crypto markets in August, by Hashdex CIO Samir Kerbage

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Expert in Spotlight

Samir Kerbage

Samir Kerbage is Chief Investment Officer at Hashdex, overseeing global investment strategy, product development, and research. A founding member of the firm, he has led the buildout of Hashdex’s crypto asset management platform across ETFs, ETPs, and other vehicles. Samir brings over 15 years of experience in financial market infrastructure and quantitative trading and holds a degree in Computer Engineering from IME.

CIO on the Spotlight

The US House takes the first step toward a Bitcoin strategic reserve. Deutsche Bank is coming. The SEC set the rules.

1 billion people now hold crypto. Nubank just brought stablecoins to Latin America's biggest bank.

21 banks including Goldman and Santander are building a dollar stablecoin together

View all articles

Primers Highlight

TL:DR;

1. The quarter unfolded in two very different phases. A more stable environment in the first half helped crypto prices climb, while the second half saw capital rotate toward AI-related companies, making crypto behave more like an alternative asset than a risk asset.
2. Crypto prices decoupled from fundamentals — but the fundamentals kept improving. Despite the price action, market indicators continued to strengthen and regulation kept developing beyond the CLARITY Act, reinforcing the long-term structural case.
3. Three risks remain on the radar. Strategy potentially selling Bitcoin to pay its STRC dividends, the CLARITY Act failing to extend beyond Bitcoin, and the threat of a prolonged market drawdown are the key factors that could shift the cycle's pace.
4. Portfolio construction offers two takeaways this quarter. Tax-loss harvesting stands out as an essential tool for optimizing gains during drawdowns, while regular rebalancing becomes increasingly important as crypto exposure grows — heavily influencing both volatility and the Sharpe ratio.

Primers - Report