Imagem representando o produto $DEFI

$DEFI

Hashdex Bitcoin ETF

The Fund is not a fund registered under the Investment Company Act of 1940, as amended (1940 Act), and is not subject to regulation under the 1940, unlike most exchange traded products or ETFs.

USD 76.96

NAV Pricing

As of July 19, 2024

USD 76.88

Closing Price

As of July 19, 2024

160,000

Shares Outstanding

As of July 22, 2024

USD 12.31M

Total Net Assets

As of July 22, 2024

Product Details

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Trading Symbol DEFI
CUSIP 88634V100
Inception Date 09/15/2022
Exchange availability NYSE
Benchmark Index NQBTCS - Nasdaq Bitcoin Reference Price - Settlement*
Expense Ratio 0.90%**
ISIN US88634V1008
Options Not currently available
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Administrator Tidal ETF Services LLC
Marketing Agent Foreside Fund Services, LLC
Sponsor Tidal Investments LLC

The Fund is not a fund registered under the Investment Company Act of 1940, as amended (1940 Act), and is not subject to regulation under the 1940, unlike most exchange traded products or ETFs.

*The Benchmark is NQBTCS - Nasdaq Bitcoin Reference Price - Settlement, it attempts to track the average bitcoin spot price by capturing the notional value of bitcoin USD transactions reported by selected public data sources as measured by Nasdaq, Inc. The Benchmark is calculated and published once a day on business days at 3pm, New York Time by CF Benchmarks Limited or other Nasdaq designated calculation agent.

** Defined as the amount of income (loss) required for the redemption value at the end of one year to equal the selling price of the Share, as presented in the Form S-1.

Holdings

As of July 22, 2024
Name Shares Price Weight
BITCOIN
178.31 67,349.06 97.54%
CME Bitcoin Fut Jul24
0.01 67,480 2.74%
Cash & Other
2,509.4 1 -
First American Government Obligations Fund 12/01/2031
525.59 100 0.43%

Performance

As of June 30, 2024
1M 3M YTD 1Y Since inception
DEFI (Market Price) -11.41% -15.70% 35.44% 76.84% 174.81%
DEFI (NAV) -11.34% -15.59% 34.87% 76.49% 173.74%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. For the most recent month-end and/or quarter-end performance, please refer to the charts above. The market price is the final price at which a security is traded on a given trading day. Net Asset Value (NAV) is value per share on a specific date or time. Returns less than one year are cumulative. Because the Fund will invest primarily in bitcoin and bitcoin futures contracts, an investment in the Fund will subject the investor to the risks of the Bitcoin market, and this could result in substantial fluctuations in the price of the Fund’s shares.

The Fund is the successor and surviving entity from the merger (the “Merger”) of the Hashdex Bitcoin Futures ETF (the “Predecessor Fund”) into the Fund. The Predecessor Fund was a series of the Teucrium Commodity Trust sponsored by Teucrium Trading, LLC. The Predecessor Fund commenced operations on September 15, 2022. The Merger closed on January 3, 2024. The investment objective of both the Predecessor Fund and the Fund (for the period from January 3, 2024 to March 26, 2024) was for changes in the Fund’s shares’ net asset value (“NAV”) to reflect the daily changes of the price of the Hashdex U.S. Bitcoin Futures Fund Benchmark (the “Prior Benchmark”), less expenses from such Fund’s operations. The Prior Benchmark reflected the average of the closing settlement prices for the first to expire and second to expire bitcoin futures contracts listed on the Chicago Mercantile Exchange (“CME”). Effective as of March 27, 2024, the Fund’s investment objective and strategy were revised to reflect that the Fund could have spot bitcoin holdings. Under normal market conditions, the Fund’s current policy is to maximize its holdings of physical bitcoin such that it is expected that at least 95% of the Fund’s assets will be invested in spot bitcoin. Up to 5% of the Fund’s remaining assets may be invested in CME-traded bitcoin futures contracts and in cash and cash equivalents. The Fund’s current benchmark index is the Nasdaq Bitcoin Reference Price-Settlement (NQBTCS). The sponsor to the Predecessor Fund and the Fund is Tidal Investments LLC. Performance data from September 15, 2022, to January 3, 2024, reflects the performance of the Predecessor Fund. Performance from January 4, 2024, to March 26, 2024, reflects the Fund's performance under its previous investment strategy, which involved investing in futures contracts. Performance data from March 27, 2024, onward reflects the Fund's current investment strategy.

The Fund's performance has been significantly influenced by the unique market dynamics surrounding Bitcoin since its inception. However, it is important to acknowledge that such exceptional performance may not be sustained for any period of time.

Premium / Discount

As of July 19, 2024
NAV Market Price Difference Premium / Discount
76.96 76.88 -0.08 -0.09%
Q3 2022 Q4 2022 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 2023 Q1 2024 Q2 2024 Q3 2024 2024
Days Traded at NAV 4 5 9 2 11 6 7 26 2 2 1 5
Days Traded at Premium 3 27 30 32 32 37 37 138 47 30 8 85
Days Traded at Discount 5 31 36 28 19 20 19 86 12 31 5 48

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