Articles
Last week, Morgan Stanley published a research report on the growth of crypto exchange-traded products (ETPs)[1]. The report noted that there are now more than 180 crypto ETPs and trust products globally and predicted the number of these products will continue to grow.
Morgan Stanley’s research team also noted that the current crypto winter “hasn’t deterred asset managers and financial companies from launching ways for their clients to get access to digital assets.''
In addition to the report supporting our belief that crypto investment products will continue to become a more permanent fixture in investment portfolios, it also highlighted Hashdex as a top crypto ETP provider, a list that included crypto-native firms as well as traditional asset managers like Fidelity, Invesco, and VanEck. The report showed that Hashdex is the 12th largest crypto ETP provider in the world, with the fifth-most product offerings available to global investors.
Morgan Stanley also highlighted that the Hashdex Nasdaq Crypto Index ETF (HASH11), which trades on Brazil’s B3 exchange, has seen the third-most inflows for crypto ETPs in 2022[2].
Despite bear market conditions, this year has been an important one for the development of crypto investment products. In the first half of 2022, Hashdex led our peers in raising assets for multi-asset crypto ETPs and we remain optimistic that this demand will persist even as the environment for risk assets remains challenging.
Morgan Stanley’s report is both a sign of the ongoing institutional interest in crypto and a recognition of the growing demand from investors regulated crypto investment products. We’re proud of the trust investors across the globe have placed in us, and remain committed to providing innovative investors simple and secure access to the rapidly developing crypto ecosystem.
[1] Morgan Stanley Research, “The growing list of new crypto ETFs and ETPs,” October 6, 2022.
[2] Source: Morgan Stanley Research, Flows Data as of August 2022, AUM data as of September 2022.
These materials are not an offer of or an invitation by or on behalf of Hashdex AG (the “Issuer”) or any other person to subscribe for or to purchase any products of the Issuer. These materials are for background purposes only and do not purport to be full or complete. No reliance may be placed for any purpose on the information contained in these materials or its accuracy or completeness. The information in these materials is subject to change.Products of the Issuer do not qualify as units of a collective investment scheme according to the relevant provisions of the Swiss Federal Act on Collective Investment Schemes (CISA), as amended, and are not licensed thereunder. Therefore, neither the Products nor the Company are governed by the CISA nor supervised or approved by the Swiss Financial Market Supervisory Authority FINMA (FINMA). Accordingly, Investors do not have the benefit of the specific investor protection provided under the CISA. No offers, sales, resales or deliveries of any products or distribution of any offering material relating to any products may be made in or from any jurisdiction except in circumstances which will result in compliance with any applicable laws and regulations and which will not impose any obligation on the Issuer.
These materials neither constitute nor form part of (i) an offer, invitation or recommendation to buy, sell or to subscribe for products of the Company nor (ii) a prospectus within the meaning of applicable Swiss law (i.e. article 1156 in conjunction with article 652a of the Swiss Code of Obligations or articles 27 et seq. of the SIX Exchange Regulation Listing Rules in conjunction with articles 15 et seq. of SIX Additional Rules for the Listing of Exchange Traded Products) or the applicable laws of any state where the products are to be offered, sold, resold or delivered. Investors should make their decision to buy or exercise subscription rights solely based on the official base prospectus, as completed by final terms in respect of the relevant products, which is expected to be published in connection with the offering of any products of the Issuer. The distribution of these materials may be restricted by law in certain other jurisdictions and persons into whose possession any document or other information referred to herein comes, should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.These materials may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Issuer’s business, results of operations, financial position, liquidity, prospects, growth or strategies. forward-looking statements speak only as of the date they are made. Without prejudice to any requirements under applicable laws and regulations, the Issuer and each of the participating authorized participants expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in these materials to reflect any change in expectations thereof or any change in events, conditions or circumstances on which any such forward-looking statement is based, whether as a result of new information, future developments or otherwise.
The participating authorized participants would be acting exclusively for the Issuer and no-one else in connection with a potential offering. They will not regard any other person as their respective clients in relation to such offering and will not be responsible to anyone other than the Issuer for providing the protections afforded to their respective clients, nor for providing advice in relation to the offering, if any, the contents of these materials or any transaction, arrangement or other matter referred to herein. None of the participating authorized participants or any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in these materials (or whether any information has been omitted from them) or any other information relating to the Issuer or associated companies or the Issuer’s products, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of these materials or their contents or otherwise arising in connection therewith.
IMPORTANT: NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR TO ANY PERSON OR ADDRESS IN THE UNITED STATES AND IN CERTAIN OTHER JURISDICTIONS.
This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of the Issuer to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States.
This document constitutes advertisement within the meaning of the Swiss Financial Services Act (the “FinSA”) and not a prospectus. In accordance with article 109 of the Swiss Financial Services Ordinance, the Base Prospectus dated 13 April 2022, as supplemented from time to time and the Final Terms for any product issued have been prepared in compliance with articles 652a and 1156 of the Swiss Code of Obligations and the Listing Rules of the SIX Swiss Exchange in their version in force as of January 1, 2020. Consequently, the Prospectus has not been and will not be reviewed or approved by a Swiss review body pursuant to article 51 of the FinSA, and does not comply with the disclosure requirements applicable to a prospectus approved by such a review body under the FinSA.
In any EEA Member State (other than Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Ireland, Italy, Liechtenstein, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Spain and Sweden) that has implemented the Prospectus Regulation (EU) 2017/1129 (together with any applicable implementing measures in any Member State, the “Prospectus Regulation”) this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation. Exclusively for potential investors in Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Ireland, Italy, Liechtenstein, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Spain and Sweden the 2022 Base Prospectus (EU) is available on the Issuer’s website under www.hashdex.com/en-EU/document-center. Final terms and key information documents relating to specific securities will be made available on the same website. The approval of the 2022 Base Prospectus (EU) should not be understood as an endorsement by the reviewing authority, or any authority, of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the 2022 Base Prospectus (EU) dated 12 August 2022, the relevant final terms and the key information document before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.
For UK purposes, this document is only being distributed to and is only directed at: (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”); or (iv) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Issuer or (v) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments based on that index. The Issuer makes no assurance that investment products based on the index will accurately track index performance or provide positive investment returns. The Issuer is not an investment advisor and makes no representation regarding the advisability of investing in any such investment product or other investment vehicle. A decision to invest in any such investment product or other investment vehicle should not be made in reliance on any of the statements set forth on this website. Prospective investors are advised to make an investment in any such product or other vehicle only after carefully considering the risks associated with investing in such products, as detailed in an offering memorandum or similar document that is prepared by or on behalf of the issuer of the investment product or other investment vehicle. The Issuer is not a tax advisor. A tax advisor should be consulted to evaluate the impact and consequences of making any particular investment decision. Inclusion of any assets within an index is not a recommendation by the Issuer to buy, sell, or hold such security, nor is it considered to be investment advice. These materials have been prepared solely for informational purposes based upon information generally available to the public and from sources believed to be reliable. No content contained in these materials(including index data, ratings, credit-related analyses and data, research, valuations, model, software or other application or output therefrom) or any part thereof (“Content”) may be modified, reverse-engineered, reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the Issuer. The Content shall not be used for any unlawful or unauthorized purposes. The Issuer does not guarantee the accuracy, completeness, timeliness or availability of the Content. The Issuer is not responsible for any errors or omissions, regardless of the cause, for the results obtained from the use of the content. The Content is provided on an “as is” basis The Issuer disclaims any and all express or implied warranties, including, but not limited to, any warranties of merchantability or fitness for a particular purpose or use, freedom from bugs, software errors or defects, that the content’s functioning will be uninterrupted or that the content will operate with any software or hardware configuration. In no event shall the Issuer be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the Content even if advised of the possibility of such damages. Investments into crypto currencies and/or digital assets are subject to material and high risk including the risk of total loss. The calculated prices may not be achieved by investors as the calculated price is based on prices from different trading platforms. Furthermore, an investment into crypto currencies and/or digital assets may become illiquid depending on the trading platform or investment product used for the specific investment. Investors should carefully review all risk factors disclosed by the relevant trading platform or in the product documents of relevant investment products.
Charts and graphs are provided for illustrative purposes. Past performance is not an indication or guarantee of future results. The charts and graphs may reflect hypothetical historical performance. All information presented prior to the launch date is back-tested (simulated past performance). Back-tested performance is not actual performance, but is hypothetical. The back-test calculations are based on the same methodology that was in effect when the index(es) was officially launched. It is not possible to invest directly in any index. Prospective application of the methodology used to construct the index(es) as well as revisions to economic data may not result in performance commensurate with the back-test returns shown. The back-test period does not necessarily correspond to the entire available history of the index(es). Another limitation of using back-tested information is that the back-tested calculation is generally prepared with the benefit of hindsight. Back-tested data and/or information reflects the application of the index methodology and selection of index constituents in hindsight. No hypothetical record can completely account for the impact of financial risk in actual trading. For example, there are numerous factors related to the equities, fixed income, or commodities markets in general which cannot be, and have not been accounted for in the preparation of the index information set forth, all of which can affect actual performance. The index returns shown do not represent the results of actual trading of investable assets.
Nasdaq®, Nasdaq Crypto Index (NCI) and Nasdaq Crypto Index Europe™ (NCIE™), are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Hashdex. Any products issued by Hashdex have not been passed on by the Corporations as to their legality or suitability. Such product(s) is (are) not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).