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Hashdex Bitcoin Futures ETF (DEFI0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing details the merger of the Hashdex Bitcoin Futures ETF into the Hashdex Bitcoin ETF, effective January 3, 2024. This merger resulted in a one-for-one exchange of shares and the acquisition of all assets and liabilities of the predecessor fund.
The Fund's investment strategy was revised on March 27, 2024, to include spot bitcoin holdings, with at least 95% of assets invested in spot bitcoin and up to 5% in CME-traded bitcoin futures contracts and cash equivalents.
Net assets increased by 462% year-over-year, driven by a 160% increase in shares outstanding and a 116% increase in net asset value per share, reflecting a rise in bitcoin prices.
For the three months ended September 30, 2024, the Fund reported a net income of $314,110, compared to a net loss of $266,799 in the same period of 2023.
Net realized and unrealized gains on futures contracts and investments for the nine months ended September 30, 2024, were $6,151,837, compared to $514,510 in the same period of 2023.
The Fund's total expense ratio for the nine months ended September 30, 2024, was 1.08%, with no expenses waived by the Sponsor.
The Fund's liquidity needs are met through the sale of investments, cash and cash equivalents, and fee waivers provided by the Sponsor.
The Fund's shares are traded on the NYSE Arca (ICE+0.69%) under the ticker symbol 'DEFI', and the Fund does not anticipate using borrowings or lines of credit to meet its obligations.
The Fund's management has evaluated the effectiveness of its disclosure controls and procedures and concluded they were effective as of the end of the period covered by this report.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Hashdex Bitcoin Futures ETF quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.