Hashdex

Hashdex is a global crypto asset manager focused on regulated investment products, crypto index strategies, and exchange-traded products for professional and institutional investors. Founded in 2018, Hashdex has built its business around simplifying access to digital assets through familiar market structures, including ETFs, ETPs, private funds, and index-based products tied to major blockchain assets such as Bitcoin and Ethereum.

Overview

Hashdex operates at the intersection of traditional asset management and the crypto economy. The company develops investment products that give investors exposure to digital assets without requiring them to directly manage wallets, private keys, custody, or asset selection. Its strategy emphasizes regulated access, index construction, investor education, and market infrastructure partnerships.

The firm is best known for its long-running partnership with Nasdaq, through which it co-developed the Nasdaq CME Crypto Index and related benchmarks. These indexes are designed to provide rules-based exposure to the crypto asset class, using criteria such as liquidity, market capitalization, custody availability, and market eligibility.

History and Background

Hashdex was founded in 2018 with the goal of bridging traditional financial markets and crypto assets. The company first gained visibility through crypto index products, particularly in markets where exchange-traded digital asset exposure developed earlier than in the United States.

In 2021, Hashdex introduced one of the world’s first crypto index ETFs, marking an important milestone for regulated digital asset products. Its HASH11 product became a major crypto index ETF on Brazil’s B3 exchange, helping establish Latin America as an early market for diversified crypto fund access.

The company later expanded across Europe and the United States. In 2022, Hashdex launched products tied to crypto indexes and thematic categories such as decentralized finance, smart contract platforms, and digital culture. In 2024, its U.S. Bitcoin ETF product became one of the exchange-traded funds to hold spot Bitcoin, and in February 2025 the firm launched NCIQ, the Hashdex Nasdaq CME Crypto Index ETF, described by Hashdex as the first multi-asset crypto ETP in the United States.

Core Products and Services

Hashdex offers crypto investment products designed for advisors, institutions, and professional investors seeking structured digital asset exposure. Its product lineup varies by jurisdiction, but includes ETFs, ETPs, and private funds.

• Crypto index ETFs and ETPs: Diversified products designed to track rules-based crypto indexes.
• Hashdex Nasdaq CME Crypto Index ETF: A U.S.-listed product designed to provide diversified exposure to eligible crypto assets.
• Hashdex Bitcoin ETF: A U.S. exchange-traded fund offering Bitcoin exposure through a regulated structure.
• Private funds: Offshore and institutional products tied to crypto indexes, Bitcoin, Ethereum, metaverse, DeFi, and smart contract platforms.
• Investor education: Research, market commentary, and allocation frameworks for advisors and institutions evaluating digital assets.

Technology and Features

Hashdex’s investment approach is based on index methodology, custody infrastructure, regulated fund wrappers, and diversified access. Its products aim to reduce the operational complexity of crypto investing while preserving exposure to the underlying asset class.

The company’s Nasdaq partnership is central to this strategy. By using index-based methodologies, Hashdex seeks to provide a systematic alternative to single-token selection. This approach is particularly relevant for investors who want exposure to the broader digital asset market but do not want to manage individual crypto holdings or rebalance portfolios manually.

Use Cases and Market Position

Hashdex serves investors looking for regulated access to crypto through established financial market channels. Its products are designed for use in portfolios where digital assets are evaluated alongside equities, fixed income, commodities, and other alternative investments.

The firm occupies a distinct position in the crypto asset management market because it has focused heavily on index-based exposure rather than only single-asset funds. This places Hashdex within the broader trend of institutionalizing crypto through ETFs, benchmark indexes, custody standards, and advisor-friendly allocation tools.

Funding and Team

Hashdex’s leadership includes Marcelo Sampaio, Executive Chairman; Bruno Caratori, Global CEO; and Samir Kerbage, Chief Investment Officer. The company has teams across Latin America, Europe, and the United States, supporting product development, distribution, research, legal, and investment strategy.

The firm reports more than 80 index ETF specialists and has built products across multiple countries. Its global footprint reflects the increasingly cross-border nature of crypto asset management, where regulatory pathways and product availability differ by market.

Risks and Considerations

Hashdex products remain exposed to the risks of digital asset markets, including volatility, liquidity constraints, custody risk, regulatory uncertainty, benchmark methodology changes, and concentration in major crypto assets. Diversified index exposure can reduce single-asset selection risk, but it does not remove the broader risk of investing in crypto markets.

Investors evaluating Hashdex products should review each fund’s prospectus, custody arrangements, index methodology, fees, jurisdictional restrictions, and underlying asset exposure. Hashdex’s role in the market reflects the continued institutionalization of crypto, but regulated product structures do not eliminate the risks associated with digital assets.