Hashdex has launched options trading for its Nasdaq-listed Hashdex Nasdaq CME Crypto Index ETF (ticker: NCIQ), marking a significant expansion of institutional tools for diversified cryptocurrency exposure. The options began trading on Monday, March 31, 2026, under the same NCIQ ticker.
The fund, which began trading in February 2025, tracks the Nasdaq CME Crypto Index and holds a market-cap-weighted basket of digital assets and cash. Its current portfolio includes Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana (SOL), Cardano (ADA), Chainlink (LINK), and Stellar (XLM). The ETF manages nearly $100 million in assets.
Hashdex stated that the introduction of options addresses a critical need for institutional investors. "Some institutions cannot take a position they cannot also hedge," the firm explained. The launch enables institutions to hedge their ETF positions without having to sell the underlying shares, a requirement for many risk frameworks before approving allocations. Furthermore, it allows advisor models to "generate yield on holdings" through income-generating strategies.
Options enable more sophisticated portfolio management, including strategies that define maximum loss and potential returns. Advisers can now structure income trades and volatility strategies directly on the diversified crypto ETF. Hashdex highlighted that this opens the door for structured products like capital-protected notes and defined-outcome ETFs linked to NCIQ.
Prior to this launch, institutions could only hedge single-asset crypto ETFs (like spot Bitcoin or Ether funds) using listed options. The availability of options on a diversified basket like NCIQ fills a gap in the market, providing a tool to manage, defend, or monetize broad crypto exposure through a single listed product. This development is seen as a step toward making diversified crypto ETFs more familiar and usable within institutional workflows, advisory models, and income-focused strategies.
