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Hashdex Bitcoin Futures ETF (DEFI-4.54%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a significant increase in total net assets to $14,839,385 from $2,536,958 in the previous year. This increase is attributed to a rise in shares outstanding and an appreciation in the price of Bitcoin.
The Fund's net asset value per share increased to $106.00 from $50.74, while the closing price per share increased to $106.21 from $50.73.
The Fund reported a net income of $10,581,435 for 2024, compared to $1,423,046 in 2023. The increase in net income is primarily due to realized gains on cryptocurrency futures contracts and investments.
The Fund's management fee was $119,739, and total expenses were $135,581, with no expenses waived by the Sponsor in 2024.
The Fund completed a merger with the Predecessor Fund on January 3, 2024, resulting in a one-for-one exchange of shares and the acquisition of all assets and liabilities of the Predecessor Fund.
On March 26, 2024, the Fund was renamed from Hashdex Bitcoin Futures ETF to Hashdex Bitcoin ETF, reflecting its conversion to a spot Bitcoin ETF with a new benchmark index.
The Fund's investment strategy now focuses on maximizing holdings of physical Bitcoin, with at least 95% of assets expected to be invested in spot Bitcoin under normal market conditions.
The Fund's principal trading market is the NYSE Arca, where it trades under the symbol 'DEFI'. As of December 31, 2024, there were 140,000 shares outstanding.
The Fund's Sponsor, Tidal Investments LLC, is responsible for the management and operation of the Fund, including the selection of service providers and the preparation of financial reports.
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 annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.