Nasdaq CME Crypto Index Performance (Weekly):

 

The NCI rose 5.8% on the week, reversing the previous week's 3.2% decline. The move came amid the postponement of the CLARITY Act in the Senate, as well as rate hikes from both the Fed and the BOJ. Even against this challenging backdrop, the SEC addressed part of crypto's regulatory needs, introducing new rules to support the asset class's proper functioning in the US. This catalyst appears to have driven a decoupling between crypto and other risk assets, with US equities closing the week directionless. It’s worth mentioning that HYPE has (+19.7%) led a trend, with every constituent except XRP (+4.2%) outperforming BTC (+5.2%) last week.

 

CIO's view:

 

Crypto turned positive at the toughest moment of the year, with rates rising in both the US and Japan and the CLARITY Act rejected, suggesting these moves were already priced in and that we are facing a lack of marginal sellers in the market. With constructive sentiment strengthening by the day, for this week we expect the NCI between 3,700 and 4,300 points and BTC between US$80,000 and US$88,000.

 

Key Developments 

 

Deutsche Bank is awaiting regulatory approval to launch institutional custody for Bitcoin, Ethereum and select stablecoins, before moving on to tokenized assets.¹ Germany's largest bank is entering the sector's infrastructure.

 

The SEC laid out the framework for trading tokenized equities on blockchain.² It gives traditional issuers an explicit path to approval and reduces regulatory uncertainty around the on-chain market

 

The US House passed the bill codifying the strategic Bitcoin reserve, locking up BTC obtained through seizures for 20 years.³ This is the first step toward establishing the asset as a sovereign reserve.

 

NCI Performance (YTD)

 

 

The Nasdaq CME Crypto Index is designed to measure the performance of a significant portion of the digital asset market and to provide a benchmark for institutional investment in this new and emerging asset class. The Index is specifically designed to be dynamic in nature, broadly representative of the market, and readily trackable by investors.

Overview
Methodology
Constituents

NCI constituents as of September 2nd, 2026: Bitcoin (74,7%), Ethereum (11,7%), Ripple (5,2%), Solana (3,7%), Hyperliquid (3,3%), Cardano (0,5%), Chainlink (0,4%), Stellar (0,3%) e Bitcoin Cash (0,2%). Third-party data is for informational use only.  [1] Deutsche Bank [2] SEC [3] White House. Data accessed on September 21, 2026.

____________________________

^{NCIQ: Effective January 20, 2026, the Fund changed its name from Hashdex Nasdaq Crypto Index US ETF (NCIQ) to Hashdex Nasdaq CME Crypto Index ETF (NCIQ)}

^{Effective January 20, 2026, the index changed its name from Nasdaq Crypto Index (NCI) to Nasdaq CME Crypto™ Index.}

^{This material expresses Hashdex Asset Management Ltd. and its subsidiaries and affiliates (“Hashdex”)'s opinion for informational purposes only and does not consider the investment objectives, financial situation or individual needs of one or a particular group of investors. We recommend consulting specialized professionals for investment decisions. Investors are advised to carefully read the prospectus or regulations before investing their funds.}

^{The information and conclusions contained in this material may be changed at any time, without prior notice. Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or ser vice. This information is not directed at or intended for distribution to or use by any person or entity located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject Hashdex to any registration or licensing requirements within such jurisdiction.}

^{These opinions are derived from internal studies and do not have access to any confidential information. Please note that future events may not unfold as anticipated by our team’s research and analysis. No part of this material may be (i) copied, photocopied or duplicated in any form by any means or (ii) redistributed without the prior written consent of Hashdex.}

^{By receiving or reviewing this material, you agree that this material is confidential intellectual property of Hashdex and that you will not directly or indirectly copy, modify, recast, publish or redistribute this material and the information therein, in whole or in part, or other wise make any commercial use of this material without Hashdex’s prior written consent.}

^{Investment in any investment vehicle and crypto assets is highly speculative and is not intended as a complete investment program. It is designed only for sophisticated persons who can bear the economic risk of the loss of their entire investment and who have limited need for liquidity in their investment. There can be no assurance that the investment vehicles will achieve its investment objective or return any capital. No guarantee or representation is made that Hashdex’s investment strategy, including, without limitation, its business and investment objectives, diversification strategies or risk monitoring goals, will be successful, and investment results may var y substantially over time.}

^{Nothing herein is intended to imply that the Hashdex s investment methodology or that investing any of the protocols or tokens listed in the Information may be considered “conservative,” “safe,” “risk free,” or “risk averse.” These opinions are derived from internal studies and do not have access to any confidential information. Please note that future events may not unfold as anticipated by our team’s research and analysis.}

^{Certain information contained herein (including financial information) has been obtained from published and unpublished sources. Such information has not been independently verified by Hashdex, and Hashdex does not assume responsibility for the accuracy of such information. Hashdex does not provide tax, accounting or legal advice. Certain information contained herein constitutes for ward-looking statements, which can be identified by the use of terms such as “may,” “ will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” “believe” (or the negatives thereof ) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Hashdex and its investment vehicles or the actual performance of Hashdex, its investment vehicles, or digital tokens may differ materially from those reflected or contemplated in such for ward-looking statements.}

^{As a result, investors should not rely on such for ward- looking statements in making their investment decisions. None of the information contained herein has been filed with the U.S. Securities and Exchange Commission or any other governmental or self-regulator y authority. No governmental authority has opined on the merits of Hashdex’s investment vehicles or the adequacy of the information contained herein.}

^{Nasdaq® is a registered trademark of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular digital asset or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any digital asset or any representation about the financial condition of a digital asset. Statements regarding Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate assets before investing. ADVICE FROM A FINANCIAL PROFESSIONAL IS STRONGLY ADVISED.}