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Hashdex Nasdaq Crypto Index US ETF (NASDAQ:NCIQ) announced on Wednesday an extension of its temporary management fee reduction and changes to its trust agreement to allow in-kind creation and redemption transactions, according to a statement based on a Securities and Exchange Commission filing.
The ETF’s sponsor agreement was amended to continue the reduced management fee of 0.25% per annum through December 31, 2026. After that date, the management fee will revert to the standard rate of 0.50% per annum.
The trust also entered into a Fourth Amended and Restated Trust Agreement with CSC Delaware Trust Company, the trustee, to enable in-kind creation and redemption processes. This amendment reflects changes needed to permit authorized participants to exchange baskets of the ETF’s shares for crypto assets, rather than solely for cash.
The Nasdaq Stock Market filed an immediately effective rule change on September 22, 2025, allowing the ETF to rely on Nasdaq’s generic listing standards. This transition permits the ETF to implement in-kind transactions at its discretion.
Under the new procedures, authorized participants may submit orders to create or redeem baskets of ETF shares in exchange for crypto assets, which are settled through the trust’s crypto custodians. Settlement involves the transfer of crypto assets between the trust and the authorized participant or its designated agent or client. The trust may use Coinbase Inc. as a prime execution agent to facilitate these transfers. If an in-kind order cannot be settled on time, the authorized participant may choose an alternative settlement method in line with the trust’s procedures.
These changes are detailed in exhibits attached to the SEC filing, including the amended trust agreement and sponsor agreement. The information is based on a press release statement included in the company’s Form 8-K filing with the SEC.
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