Hashdex Asset Management
Hashdex Asset Management Ltd. is a private crypto asset manager that sponsors regulated U.S. exchange-traded products (NCIQ and DEFI), providing retail and institutional investors diversified and single-asset exposure to crypto via Nasdaq and NYSE Arca listings.
- Company typePrivate
- Founded2022
- HeadquartersNew York, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Hashdex Asset Management does
Hashdex Asset Management Ltd. is a privately held crypto asset management firm founded in 2022 that sponsors exchange-traded products (ETPs) providing regulated U.S. market access to digital assets. The firm operates two core products: DEFI, a single-asset bitcoin ETP listed on NYSE Arca that tracks the Nasdaq Bitcoin Reference Price - Settlement (NQBTCS) index and holds 95%+ spot bitcoin under normal conditions, and NCIQ, a multi-asset crypto ETP listed on Nasdaq that tracks the Nasdaq CME Crypto Settlement Price Index (NCIS) and provides market-cap weighted exposure to bitcoin, ethereum, XRP, solana, cardano, chainlink, stellar, and bitcoin cash.
The firm's technology stack is built on proprietary index partnerships with Nasdaq, CME Group, and CF Benchmarks Limited (the calculation agent), with U.S. Bancorp Fund Services providing administrative, accounting, and 15-second approximate NAV functions. Both products charge a 0.25% annual expense ratio (management fee), making management fees the primary revenue stream. Hashdex distributes shares through the secondary market via any brokerage account and uses Paralel Distributors LLC as marketing agent.
The firm is headquartered in New York with additional offices in Rio de Janeiro, Paris, Frankfurt, and Zurich, and serves institutional and retail investors seeking regulated crypto exposure. NCIQ carries $269.58M in net assets across 16.86M shares (as of mid-2026 disclosures) while DEFI has $7.12M in net assets across 100,000 shares, with materially divergent NAV performance since inception reflecting crypto market volatility.
Hashdex Asset Management firmographics
Firmographics- Name
- Hashdex Asset Management
- Legal name
- Hashdex Asset Management Ltd.
- Website
- https://hashdex-etfs.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Hashdex Asset Management Ltd. is a private crypto asset manager that sponsors regulated U.S. exchange-traded products (NCIQ and DEFI), providing retail and institutional investors diversified and single-asset exposure to crypto via Nasdaq and NYSE Arca listings.
- Ownership category
- akta.pro rank
Hashdex Asset Management industry classification
Industry- Product category
- Crypto Asset Management / Crypto Exchange-Traded Products
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Open-End Investment Funds (52591)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Index-Tracking Funds, ETPs & Structured Index Products (Crypto) (FSADAHAC)
- akta.pro secondary industry
- Crypto Index Providers & Benchmark Administrators (FSADAHAB)
Keywords
Where Hashdex Asset Management is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Hashdex Asset Management business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Management Fees: Hashdex Asset Management Ltd. serves as the sponsor and receives a management fee from the Funds. The expense ratio for both NCIQ and DEFI is 0.25%, calculated as the amount of income (loss) required for the redemption value at the end of one year to equal the selling price of the Share.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | DEFI - Hashdex Bitcoin ETF |
| Subscription | Annual | NCIQ - Hashdex Nasdaq CME Crypto Index ETF |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
Hashdex Asset Management product offering
Product offeringCore offering
Hashdex Asset Management sponsors two crypto exchange-traded products (ETPs): the NCIQ – Hashdex Nasdaq CME Crypto Index ETF, which provides market-cap weighted diversified exposure across multiple crypto assets (Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, Stellar, Bitcoin Cash) by tracking the Nasdaq CME Crypto Index, and the DEFI – Hashdex Bitcoin ETF, which tracks bitcoin spot price performance via the Nasdaq Bitcoin Reference Price – Settlement (NQBTCS) index. Both products are non-1940 Act registered ETPs listed on major U.S. exchanges and charge a 0.25% annual expense ratio.
Product overview
Hashdex Asset Management offers two distinct crypto exchange-traded products: NCIQ (Nasdaq CME Crypto Index ETF) provides diversified, market-cap weighted exposure across a basket of crypto assets including Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, Stellar, and Bitcoin Cash, tracking the Nasdaq CME Crypto Index; DEFI (Hashdex Bitcoin ETF) provides focused, single-asset exposure to bitcoin, tracking the Nasdaq Bitcoin Reference Price - Settlement index. Both products are non-1940 Act registered ETPs traded on major U.S. exchanges (Nasdaq and NYSE Arca respectively).
Differentiator
Problem solved
Functional benefit
Brands
- Hashdex Bitcoin ETF (DEFI): Exchange traded product designed to track the price performance of bitcoin, tracking the Nasdaq Bitcoin Reference Price – Settlement (NQBTCS).
- Hashdex Nasdaq CME Crypto Index ETF (NCIQ)
Products and services
- NCIQ - Hashdex Nasdaq CME Crypto Index ETF Exchange-traded product providing market-cap weighted diversified exposure to crypto assets (Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, Stellar, Bitcoin Cash) by tracking the Nasdaq CME Crypto Settlement Price Index (NCIS). Charges a 0.25% expense ratio. Available to investors through brokerage accounts on Nasdaq.
- DEFI - Hashdex Bitcoin ETF Exchange-traded product designed to track the price performance of bitcoin via the Nasdaq Bitcoin Reference Price – Settlement (NQBTCS) benchmark. Maintains 95%+ spot bitcoin holdings under normal market conditions. Charges a 0.25% expense ratio. Listed on NYSE Arca under ticker DEFI.
Quantifiable outcome
- NCIQ provides exposure to 8 crypto assets with market-cap weighted methodology
- +1 more outcomes
Companies that use Hashdex Asset Management
Customer profileSegments2 records
Ideal customer profiles2 records
Hashdex Asset Management technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Hashdex Asset Management partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Nasdaq, Inc.coreNasdaq provides the benchmark indices for Hashdex ETFs - NQBTCS (Nasdaq Bitcoin Reference Price - Settlement) for DEFI and NCIS (Nasdaq CME Crypto Settlement Price Index) for NCIQ. Nasdaq brings decades of financial infrastructure expertise to the crypto asset class.
- CME Group (Chicago Mercantile Exchange)coreCME Group partners with Nasdaq to provide the underlying reference prices and futures infrastructure for Hashdex's crypto ETF products, bringing institutional-grade market infrastructure.
- CF Benchmarks LimitedcoreCF Benchmarks Limited serves as the calculation agent for the Nasdaq Bitcoin Reference Price – Settlement (NQBTCS) index, calculating and publishing the benchmark daily at 3pm New York Time on business days.
- Paralel Distributors LLCminorParalel Distributors LLC serves as the marketing agent for both NCIQ and DEFI funds, assisting with distribution and investor access to the products.
Scale indicators4 records
Recent moves5 records
Expansion highlights4 records
Hashdex Asset Management competitors and assessment
Company assessmentBroad incumbents
- VanEck: VanEck is a long-established asset manager offering crypto-linked ETFs and ETPs (e.g., HODL) as part of a broader product lineup. Its dedicated crypto products compete with Hashdex's NCIQ and DEFI, though VanEck operates across many other asset classes.
- Franklin Templeton: Franklin Templeton sponsors a spot bitcoin ETF (EZBC) and has explored additional crypto ETP launches as part of its broader traditional asset management franchise. It is a large-incumbent competitor to Hashdex in the US spot crypto ETF space.
- ProShares: ProShares offers crypto-linked ETFs including futures-based (BITO) and spot bitcoin products as part of a broad ETF lineup. It overlaps with Hashdex in the US spot crypto ETF category while serving many other ETF strategies.
- WisdomTree: WisdomTree is a global asset manager offering spot bitcoin (BTCW) and other crypto-linked ETPs in the US alongside a broad ETF product suite. Its crypto offerings compete with Hashdex's NCIQ and DEFI for institutional and advisor allocations.
- Invesco (Invesco Galaxy): Invesco, through its Invesco Galaxy product line (e.g., BTCO, BTFX), offers spot and futures-based crypto ETFs in the US as part of its broader ETF business. Its crypto offerings overlap with Hashdex's product strategy.
Emerging players
- Valkyrie Funds: Valkyrie is a smaller crypto-focused fund sponsor offering spot bitcoin and thematic crypto ETFs in the US. It competes with Hashdex as a niche crypto ETP sponsor rather than a full multi-asset manager.
Direct peers
- Grayscale Investments: Grayscale is the largest US crypto asset manager, sponsoring spot bitcoin (GBTC) and multi-asset (GDLC) products. It is a direct competitor to Hashdex in the regulated crypto ETP/ETF category serving both retail and institutional investors.
- Bitwise Asset Management: Bitwise sponsors spot bitcoin and multi-asset crypto ETFs (BITB, BITW) in the US with a similar diversified-index product strategy. It competes directly with Hashdex for retail and advisor allocations in the crypto ETP space.
- 21Shares: 21Shares is a leading crypto ETP sponsor with a broad product suite across single-asset and index products in the US and Europe. Its multi-asset index offerings (e.g., HODL) overlap directly with Hashdex's NCIQ diversified crypto basket.
- CoinShares: CoinShares is a European-headquartered crypto asset manager offering single-asset and index-based ETPs and has expanded into US-listed products. It is a direct competitor to Hashdex in the index-tracking crypto ETP category.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Hashdex Asset Management social profiles
Digital presenceHashdex Asset Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hashdex Asset Management leadership team
Management profileNumber of profiles
Hashdex Asset Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hashdex Asset Management M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hashdex Asset Management
What does Hashdex Asset Management do?
Hashdex Asset Management sponsors two crypto exchange-traded products (ETPs): the NCIQ – Hashdex Nasdaq CME Crypto Index ETF, which provides market-cap weighted diversified exposure across multiple crypto assets (Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, Stellar, Bitcoin Cash) by tracking the Nasdaq CME Crypto Index, and the DEFI – Hashdex Bitcoin ETF, which tracks bitcoin spot price performance via the Nasdaq Bitcoin Reference Price – Settlement (NQBTCS) index. Both products are non-1940 Act registered ETPs listed on major U.S. exchanges and charge a 0.25% annual expense ratio.
Is Hashdex Asset Management a public or private company?
Hashdex Asset Management is a private company. It is classified as unknown and is currently operating.
When was Hashdex Asset Management founded?
Hashdex Asset Management was founded in 2022. It employs 51 to 100 people.
Where is Hashdex Asset Management based?
Hashdex Asset Management is headquartered in New York, United States, in the North America region.
How does Hashdex Asset Management make money?
One revenue line is on record: management Fees.
Who are Hashdex Asset Management's main competitors?
Broad incumbents on record are VanEck, Franklin Templeton, ProShares, WisdomTree and Invesco (Invesco Galaxy). Valkyrie Funds is listed as an emerging player. Direct peers are Grayscale Investments, Bitwise Asset Management, 21Shares and CoinShares.
Does Hashdex Asset Management have an API?
No public API is recorded for Hashdex Asset Management.
What industry is Hashdex Asset Management in?
Hashdex Asset Management's product category is Crypto Asset Management / Crypto Exchange-Traded Products. Its primary akta.pro industry code is FSADAHAC, Index-Tracking Funds, ETPs & Structured Index Products (Crypto), with a secondary code of FSADAHAB, Crypto Index Providers & Benchmark Administrators. Its NAICS code is 5231 and its SIC code is 6200.