Jane Street Becomes Fifth Authorized Participant for Hashdex’s NCIQ ETF

Hashdex Nasdaq CME Crypto Index ETF has added Jane Street Capital, LLC to the firms able to create and redeem its shares, bringing the fund’s authorized participant roster to five as of Oct. 30.

Jane Street entered into an authorized participant agreement with the trust on Oct. 27. Hashdex Asset Management Ltd., the fund’s sponsor, also acknowledged and agreed to the arrangement.

The other participants are Macquarie Capital (USA) Inc., Virtu Americas LLC, Cantor Fitzgerald & Co. and Marex Capital Markets Inc. All five are registered broker-dealers, members in good standing of the Financial Industry Regulatory Authority and parties to agreements with the sponsor and trust.

An authorized participant can transact directly with the trust by creating or redeeming shares. The agreement sets out how those transactions work, with each creation unit comprising at least 10,000 shares. The appointment gives Jane Street access to that process; it does not establish that the firm has submitted a creation or redemption order or invested in NCIQ.

NCIQ trades on Nasdaq. NCIQ’s objective is to reflect its benchmark’s digital-asset value after the fund’s liabilities and expenses are deducted.

Jane Street Capital is affiliated with JSCT, LLC, a crypto trading counterparty for the trust.