When I first started talking to financial advisors about crypto nearly a decade ago, I received a lot of polite nods and a few looks suggesting I might be crazy. 

There were, however, some advisors that were clearly excited about the potential of digital assets. Unfortunately, when it came to acting on that excitement, they all were blocked by one specific question: “How do I actually invest?”    

The answer to this “how” would come in 2024 with the approval of crypto ETFs. For decades, ETFs have offered advisors the ideal combination of transparency, liquidity, and cost efficiency—making it easy to integrate into portfolios, rebalance when needed, and get exposure to asset classes that had previously been difficult to access. Crypto ETFs remove the major headaches that have historically made this asset class difficult to recommend: custody, tax reporting, and accessibility, to name a few. 

ETF access made another leap in February 2025 with the launch of the Hashdex Nasdaq CME Crypto^TM Index ETF (NCIQ)—the first multi-asset spot crypto ETF in the United States. Shortly after we launched NCIQ, we made a deliberate choice to temporarily lower NCIQ’s fee. That decision was about removing initial friction, giving advisors and investors the space to evaluate the product on its merits without the fee becoming a barrier to entry.

Today, we're making that commitment permanent, replacing the temporary fee waiver and reducing NCIQ’s management fee to 0.25%. This isn't just a pricing decision. It's a statement about what we believe investing in crypto should look like.

The case for diversified crypto exposure has never been stronger

Since NCIQ launched, the market has made something clear: investors are increasingly looking beyond Bitcoin and Ethereum. They want exposure to the broader digital asset ecosystem—to the infrastructure, protocols, and platforms that are being built on top of blockchain technology. NCIQ currently provides exposure to seven assets: Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, and Stellar, and the fund is designed to evolve as markets and regulatory frameworks develop.

We have strong conviction that the most effective way for most investors to participate in the growth of crypto is through diversified, index-based exposure. Just as broad-market equity indices have been one of the most powerful wealth-building tools for generations of investors, we believe a crypto index—one rigorously constructed and maintained—offers a compelling way to capture the long-term growth potential of this asset class without the concentration risk of single-asset exposure.

Why 0.25%—and why now

At 0.25%, NCIQ is positioned to be one of the most cost-effective ways to access diversified spot crypto exposure in the US market. We set this level deliberately. It reflects our operating efficiency and our genuine desire to see institutions, advisors, and investors access this product in the same way they access other asset class. To do this, the fee needed to make sense not just for large institutional allocators, but for financial advisors and their clients who are building long-term portfolios.

The timing matters too. Crypto markets have matured considerably over the past year, and we believe the current environment represents a compelling entry point for investors who have been waiting for greater regulatory clarity and product infrastructure before taking the step. A permanent fee structure, rather than a temporary waiver, signals something important: we are not testing the waters. We are committed.

Building products we'd want to own

At Hashdex, we've spent over eight years building index products we believe are genuinely good for investors. We co-developed the Nasdaq CME Crypto^TM Index, launched the world's first crypto index ETFs, and have served hundreds of thousands of investors across the U.S., Latin America, and Europe. That track record informs how we think about product design and pricing.

We don't approach fee decisions as a race to zero. We approach them as a question of alignment: is the fee structure one that puts investors first? For NCIQ, the answer at 0.25% is yes. We believe it's fair, competitive, and sustainable—and creates the right conditions for advisors to recommend the fund with confidence, knowing it's built to be held for the long term.

If you've been following NCIQ since launch but haven't yet taken the step to add diversified crypto exposure to your clients' portfolios, we hope this is a useful signal. The “how” has been answered via ETFs and we hope that our decision to reduce NCIQ’s fee removes one additional roadblock for advisors. What remains is the broader question of whether crypto belongs in a well-constructed portfolio—and our view on that has been consistent from day one.

 

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^{Legal Disclaimer}

^{Carefully consider the investment objectives, risks, charges and expenses before investing.}

^{The issuer has filed a registration statement (including a Prospectus www.hashdex-etfs.com/NCIQ/prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the Prospectus and Prospectus Supplement in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer will arrange to send you the prospectus and/or prospectus supplement if you request it by calling (917) 525-5635. Before making an investment decision, you should carefully consider the risk factors and other information included in the Prospectus and Prospectus Supplement.}

^{The Fund, which is an ETP, is not a mutual fund or any other type of investment company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder. Shares of the Product are not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds.}

^{Shares of the Fund are bought and sold at a market price, not at net asset value. Brokerage commissions will reduce returns.}

^{An 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 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 vary 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.”}

^{This material expresses the opinion of Hashdex and its subsidiaries and affiliates (“Hashdex Group”) for informational purposes only and does not consider the investment objectives, financial situation or individual needs of any one investor 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 in their products. 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 service. 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 the Hashdex Group to any registration or licensing requirements within such jurisdiction.}

^{Certain information contained herein (including financial information) has been obtained from published and non-published sources. Such information has not been independently verified by Hashdex. Hashdex does not provide tax, accounting or legal advice. Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” “believe” and “seek” (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 crypto assets may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions. No governmental authority has opined on the merits of Hashdex’s investment vehicles or the adequacy of the information contained herein.}

^{This material is not an offer or solicitation of any kind to buy or sell any securities outside of the United States of America.}

^{The Hashdex Nasdaq CME Crypto Index ETF (“Fund”) currently holds the crypto assets. Because the Fund's investment objective is to track the price of the Nasdaq CME Crypto ™ Index (NCI) (“Index”) less expenses and liabilities of the Trust, changes in the price of the Shares may vary from changes in the spot price of crypto assets. An investment in the Fund involves significant risks and you could incur a partial or total loss of your investment in the Fund.}

^{Some of the risks you may face are summarized below. A more extensive discussion of these risks appears in the “Risk Factors” section of the Prospectus.}

^{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).}

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

^{Fund Risks}

^{The Index has a limited performance history. Errors in Index data, Index computation or the construction of the Index in accordance with its methodology may occur from time to time and may not be identified and corrected by Nasdaq for a period of time or at all.}

^{Crypto platforms may be largely unregulated or may be largely or entirely non-compliant with applicable regulation and may therefore be more exposed to fraud and failure. Crypto asset markets in the U.S. exist in a state of regulatory uncertainty, and adverse legislative or regulatory developments could significantly harm the Fund.}

^{The market for crypto-based ETFs like the Fund may reach a point where there is little or no additional investor demand. If this happens, there can be no assurance that the Fund will grow to or maintain a viable size. Due to the Fund’s small asset base, certain of the Fund’s expenses and its portfolio transaction costs may be higher than those of a Fund with a larger asset base. To the extent that the Fund does not grow to or maintain a viable size, it may be liquidated, and the expenses, timing and tax consequences of such liquidation may not be favorable to some shareholders.}

^{Crypto assets generally are volatile, and instruments whose underlying investments include crypto assets are not suitable for all investors. Crypto assets represent a new and rapidly evolving industry. The value of the Fund depends on the acceptance of the crypto assets, the capabilities and development of blockchain technologies and the fundamental investment characteristics of the crypto asset. Crypto asset networks are developed by a diverse set of contributors and the perception that certain high-profile contributors will no longer contribute to the network could have an adverse effect on the market price of the related crypto asset. Crypto assets may have concentrated ownership and large sales or distributions by holders of such crypto assets could have an adverse effect on the market price of such assets.}

^{Liquidity Risk. The market for crypto assets is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Possible illiquid markets may exacerbate losses or increase the variability between the Fund's NAV and its market price. The lack of active trading markets for the Shares may result in losses on investors' investments at the time of disposition of Shares.}

^{The Fund has a limited operating history.}

^{The Fund holds crypto assets; however, an investment in the Fund is not a direct investment in crypto assets. The value of the shares may fluctuate more than shares invested in a broader range of industries. For more information, please visit the official index page.}

^{The Trust may experience tracking difference - positive or negative—relative to the index’s performance. The inclusion of any additional crypto asset to the Fund’s holdings will occur in accordance with the Index methodology and eligibility under the generic listing standards.}

^{U.S. Bancorp Fund Services, LLC (d/b/a U.S. Bank Global Fund Services) is the “Administrator” and Paralel Distributors LLC is the “Marketing Agent” of NCIQ. The Administrator, the Marketing Agent, and Hashdex Asset Management Ltd. are unaffiliated.} 

^{Nasdaq Disclaimer}

^{Nasdaq® is a registered trademark of Nasdaq, Inc. Corporations make no representation or warranty, whether express or implied, to the owners of the Fund(s) or any member of the public regarding the suitability of investing in securities in general or in the Fund(s) in particular, or the ability of the Nasdaq CME Crypto Index to track overall market performance. 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. Please find further information in the following (link).}