Insights & Education

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.

Hashdex Announcements

Sep 01, 2026

Hashdex Announces Addition of HYPE to NCIQ Multi-Asset Spot ETF

HYPE's inclusion follows its addition to the Nasdaq CME Crypto Index (NCI) after satisfying the index's strict eligibility criteria

CIO Notes

Sep 01, 2026

The Compressed Spring

Bitcoin volatility crashed, then exploded: inside the $2.7B short squeeze that moved crypto markets in August, by Hashdex CIO Samir Kerbage

Inside the NCI

Aug 31, 2026

After a historic week, Bitcoin and Ethereum ETFs hit $5.1B — and crypto holds its ground

NCI rose modest 1.6%, but SOL surged +11% with network's first governance vote. Schwab expands to SOL/AVALANCHE/LINK, crypto outperformed risk assets despite Warsh hawkish Jackson Hole signals. ETF inflows cumulative $5.1B (record since October, ETH 2026 now positive). SEC proposes new custody rules. CIO maintains range (3,400-4,100) but cautious: Ethereum Glamsterdam upgrade plus CLARITY Act vote plus FOMC = potential turbulence.

Inside the NCI

Aug 24, 2026

The NCI rose 25% in a week. The SEC moved. Citigroup moved. The market followed.

NCI surged 25.1%—largest week on record—with all eight constituents positive. XRP led +49.9%, altcoins outperformed BTC second consecutive week. Dual catalysts: Treasury doubles buybacks (dovish macro) plus SEC new rules plus Trump emphasizes regulation importance. Short liquidations amplified move. ETF inflows $2.6B (best since October 2025). CIO: price-fundamental divergences manifesting as catch-up, bullish sentiment spreading. Range upside massive (3,200-4,100).

Inside the NCI

Aug 17, 2026

Russia unlocks crypto for retail. Canada's national bank holds BTC and XRP. The map keeps growing.

NCI fell 3.0% with CLARITY Act postponed plus regulators cancelled meeting. MSTR sold BTC fourth consecutive week adding pressure. But LINK surged +13.7% signaling selective accumulation despite pessimism. Index outperformed BTC (-3.1% vs -3.2%) = diversification helps on downside. CIO: NCI range maintains 2,700-3,400 but BTC floor cut to $57K. Canada institutional plus Russia opening plus AI security support longer term.

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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.

CIO on the Spotlight

The Compressed Spring

After a historic week, Bitcoin and Ethereum ETFs hit $5.1B — and crypto holds its ground

The NCI rose 25% in a week. The SEC moved. Citigroup moved. The market followed.

View all articles

Primers Highlight

TL:DR;

1. The quarter unfolded in two very different phases. A more stable environment in the first half helped crypto prices climb, while the second half saw capital rotate toward AI-related companies, making crypto behave more like an alternative asset than a risk asset.
2. Crypto prices decoupled from fundamentals — but the fundamentals kept improving. Despite the price action, market indicators continued to strengthen and regulation kept developing beyond the CLARITY Act, reinforcing the long-term structural case.
3. Three risks remain on the radar. Strategy potentially selling Bitcoin to pay its STRC dividends, the CLARITY Act failing to extend beyond Bitcoin, and the threat of a prolonged market drawdown are the key factors that could shift the cycle's pace.
4. Portfolio construction offers two takeaways this quarter. Tax-loss harvesting stands out as an essential tool for optimizing gains during drawdowns, while regular rebalancing becomes increasingly important as crypto exposure grows — heavily influencing both volatility and the Sharpe ratio.

Primers - Report