Primers - Reports
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
Jul 13, 2026

Swift just put 17 banks on a blockchain. Circle became a trust bank. The system is moving.

NCI rose modest 1.7% despite geopolitical escalation (new U.S. strikes, ceasefire ended). BTC/ETH led (+2.4%/+2.3%) while small-caps lagged, validating market-cap-weighted index in stress periods. ETF outflows continue pressuring. CIO: CLARITY Act deadline approaching weeks = binary inflection point. Swift + Circle custody + SBI-Solana advance structure despite headwinds

Inside the NCI
Jul 06, 2026

140 institutions. One stablecoin. Built on Solana.

NCI surged 7.3% with all eight constituents positive, ADA and BCH leading +32% each. Weak U.S. jobs data sparked appetite, reversing BTC ETF outflow streak (+$221M inflow). CIO revises range upward for second time (2,700-3,500), validating support tested in #17. Ethereum Institutional + Open USD + Ondo tokenized ETFs consolidate institutional adoption

CIO Notes
Jun 30, 2026

The crypto thesis is quietly strengthening, even as investor attention remains on AI

Samir Kerbage: crypto thesis quietly strengthening despite AI rotation. On-chain transactions hit all-time highs, Q2 2026 stablecoin volume already exceeds entire 2025, RWA +60% YTD. Valuation gap widest ever. CIO: rotation temporary, crypto well-positioned for H2 reversal.

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Samir Kerbage
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.

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.

A note from the road: Questions about Bitcoin are shifting
CIO Note

A note from the road: Questions about Bitcoin are shifting

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