Related Parties |
9 Months Ended | ||
|---|---|---|---|
Sep. 30, 2026 | |||
| Related Parties [Abstract] | |||
| Related Parties |
The Sponsor is considered to be a related party to the Trust. The Trust’s operations are supported by its Sponsor.
Under the Trust Agreement, after the staking services provider retains its portion of any staking income, the remaining staking income (the “Net Staking Income”) is allocated as follows : (i) 100% of Net Staking Income up to an amount equal to 25 basis points of the Trust’s net asset value attributable to the Common Shares (on an annualized basis) is allocated to the Sponsor, as holder of the Sponsor Share; and (ii) any Net Staking Income in excess of that threshold is allocated 40% to the Sponsor, as holder of the Sponsor Share, and 60% to the Trust for the benefit of holders of the Common Shares.
The Sponsor Share Allocation is not an expense of the Trust and is presented in the Statements of Changes in Net Assets.
As of September 30, 2026, the Trust has a liability of $100,574 for the Sponsor Share Allocation that has been earned and not yet distributed. As of December 31, 2025, the Sponsor Share had not been issued and, accordingly, amount was due in respect of the Sponsor Share Allocation.
As of September 30, 2026 and December 31, 2025, the Trust has a liability to the Sponsor of $97,760 and $26,623, respectively, for the September Management Fee.
The Sponsor provided the initial seed creation of 10,000 Common Shares, which occurred on January 21, 2025, at a per-Common Share price of $25.00. These initial seed Common Shares were subsequently redeemed on February 13, 2025, at $25.00 per Common Share, for a total redemption amount of $250,000. The Trust commenced operations on February 14, 2025, which is the date used as the inception date for purposes of these financial statements.
As of September 30, 2026, the Hashdex Nasdaq Crypto Index Fund (“NCI”), a fund managed by the Sponsor, held 21,130,000 Common Shares, representing approximately 90.2% of the Common Shares outstanding.
The Sponsor arranged for the creation of the Trust and is responsible for the ongoing registration of the Shares for their public offering in the United States and the listing of Shares on the Exchange. |