Welcome to our dedicated page for Hashdex Bitcoin ETF SEC filings (Ticker: DEFI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Hashdex Commodities Trust filings document the regulatory record for the Hashdex Bitcoin ETF shares listed under DEFI on NYSE Arca. The trust's Form 8-K disclosures cover sponsor arrangements involving Hashdex Asset Management Ltd., amendments to trust governing documents, modifications to security-holder rights, and sponsor-level governance changes.
The filing record also includes auditor changes, letters from the prior accounting firm, emerging growth company status, security-structure disclosures, and material-event reporting associated with the trust and the ETF share class.
Hashdex Commodities Trust’s Hashdex Bitcoin ETF reported net assets of $9,220,735 as of March 31, 2026, down from $11,897,777 at year-end 2025. The fund held 134.87 bitcoin with a fair value of $9,141,203, plus modest cash and money market holdings.
Net asset value per share fell to $76.84 from $99.15, while the market price was $76.92. The fund recorded a net decrease in net assets from operations of $2,677,042, almost entirely from unrealized depreciation of $2,671,064 on bitcoin, with a small net investment loss of $5,978.
The ETF charged management fees of $6,453 for the quarter, resulting in an annualized expense ratio of 0.25% and a total return of (22.50%). No shares were created or redeemed, leaving 120,000 shares outstanding. Following a previously announced sponsor transition, the fund now invests solely in spot bitcoin and cash, without using bitcoin futures.
Hashdex Commodities Trust reported a change in its independent auditor. On April 6, 2026, the Sponsor dismissed Tait, Weller & Baker LLP as the Trust’s independent registered public accounting firm and appointed Cohen & Company, Ltd. for the fiscal year ending December 31, 2026.
Tait Weller’s reports on the Trust’s financial statements for the years ended December 31, 2025 and 2024 contained no adverse opinions, disclaimers, or qualifications. The Trust states there were no disagreements with Tait Weller on accounting principles, financial statement disclosure, or audit procedures, and no reportable events during those periods. Tait Weller provided a letter to the SEC agreeing with the Trust’s description of these matters.
Hashdex Commodities Trust, a Delaware statutory trust, operates the Hashdex Bitcoin ETF (DEFI), which issues shares of beneficial interest listed on NYSE Arca. As of December 31, 2025, the Fund had 120,000 Shares outstanding and non‑affiliate market value of $14,516,847 as of June 30, 2025.
The Fund’s goal is for daily NAV changes to mirror the Nasdaq Bitcoin Reference Price – Settlement (NQBTCS), minus expenses. It holds bitcoin and limited cash, does not employ leverage, and uses a passive strategy that tracks the Benchmark whether prices rise or fall. ICE Data Indices publishes an indicative NAV every 15 seconds during trading.
The Fund is the successor to the Hashdex Bitcoin Futures ETF via a one‑for‑one merger completed January 3, 2024, and converted from a futures strategy to a spot bitcoin strategy effective March 27, 2024. Baskets of 10,000 Shares are created and redeemed by Authorized Purchasers in cash or in‑kind bitcoin, with a minimum of 50,000 Shares required to remain outstanding.
Hashdex Asset Management Ltd. became Sponsor after January 15, 2026, replacing Tidal Investments. The Sponsor manages operations, appoints key service providers, and earns a 0.25% annual Management Fee on daily NAV, while also covering most routine expenses. Bitcoin is custodied in segregated, insured cold‑storage wallets by BitGo Trust Company, Inc., and cash is held by U.S. Bank, N.A.
Hashdex Bitcoin ETF files a prospectus supplement updating leadership disclosures for its sponsor, Hashdex Ltd. The supplement revises executive titles and biographies, identifying Marcelo Sampaio as Executive Chairman and reaffirming Bruno Caratori as Global CEO and COO. It states the Sponsor manages over 20 pooled vehicles and had approximately $870.5 million in assets under management as of October 31, 2025. The supplement clarifies responsibilities of the Sponsor’s executives and reiterates that the Trust has no directors, officers, or employees; other prospectus disclosures remain unchanged.
Hashdex Commodities Trust reported leadership changes at its sponsor’s parent company, Hashdex Ltd., that do not alter the management or day-to-day operation of the Trust. The changes are effective immediately.
Co-Founder Bruno Caratori has been appointed Global Chief Executive Officer of Hashdex Ltd. Former CEO and Co-Founder Marcelo Sampaio has transitioned to Executive Chairman, focusing on the board, long-term strategy, capital allocation, and major corporate initiatives on a full-time basis. Mick McLaughlin has been named U.S. CEO while continuing as Global Head of Distribution.
The filing clarifies that Bruno Sousa remains the Trust’s principal executive officer and Samir Kerbage remains Principal Financial Officer and Principal Accounting Officer. The company also notes there are no special arrangements, family relationships, or related-party transactions associated with these appointments, and it has attached a detailed press release as an exhibit.
Hashdex Commodities Trust, which issues the Hashdex Bitcoin ETF (ticker DEFI), reports a change in control and sponsor. Tidal Investments, LLC resigned as sponsor effective after the close of trading on January 15, 2026, and Hashdex Asset Management Ltd. was appointed as the new sponsor under a Sponsorship Transfer Agreement. Because the sponsor controls key decisions for the Trust, Hashdex is now deemed to control the Trust and will receive the Management Fee for DEFI as described in the fund’s prospectus.
With this sponsor change, certain material agreements related to the Trust were terminated, and officers of Tidal who had performed management-like functions for the Trust no longer do so. Officers of Hashdex now perform these roles that, if the Trust had executive officers, would typically be carried out by those executives.
Hashdex Bitcoin ETF offers exchange-traded exposure to the bitcoin market by holding bitcoin and limited cash and seeking for its NAV to reflect daily changes in the Nasdaq Bitcoin Reference Price – Settlement, minus expenses. Shares trade on NYSE Arca under the symbol DEFI and can be bought and sold through broker-dealers, while only large Creation Baskets of 10,000 Shares are created and redeemed with Authorized Purchasers.
As of October 31, 2025, the Fund had total net assets of $14,892,750 and 120,000 Shares outstanding, with NAV performance of 17.09% from January 1, 2025 through October 31, 2025. The Fund charges a unitary Management Fee of 0.25% of average daily net assets, with the Sponsor covering most routine operating expenses. It is not registered as an investment company under the 1940 Act, so holders do not receive typical mutual fund protections and have limited voting rights.
The Fund invests directly in spot bitcoin, using a passive strategy, and will not lend or pledge its assets. It relies on BitGo Trust Company, Inc. as bitcoin custodian and U.S. Bank for cash custody, with bitcoin held in segregated cold storage. The prospectus highlights extensive risks tied to bitcoin’s extreme volatility, regulatory uncertainty, exchange failures, forks and airdrops (which the Fund will abandon), cybersecurity threats, and potential termination if the Fund remains too small relative to its expenses.
Hashdex Bitcoin ETF, a series of Hashdex Commodities Trust, is an exchange-traded product listed on NYSE Arca under the symbol DEFI that offers investors exposure to the price of bitcoin. The Fund seeks for changes in its net asset value to reflect the daily changes of the Nasdaq Bitcoin Reference Price – Settlement (NQBTCS) benchmark, less expenses, using a passive strategy and holding only bitcoin and cash.
As of October 31, 2025, the Fund had total net assets of $14,892,750 and 120,000 shares outstanding, with NAV performance of 17.09% from January 1, 2025 through October 31, 2025. The Fund charges a unitary management fee of 0.25% per year of average daily net assets, while the Sponsor covers routine operating expenses. Bitcoin is held in segregated cold-storage wallets by BitGo Trust Company, Inc., and cash is held by U.S. Bank, N.A.
The prospectus emphasizes that investing in the Fund entails the significant risks of bitcoin itself, including extreme price volatility, regulatory uncertainty, cybersecurity threats, exchange failures, forks and airdrops (which the Fund will irrevocably abandon), and that the Fund is not a registered investment company and does not provide the protections of the Investment Company Act of 1940.
Tidal Commodities Trust I, which issues shares of the Hashdex Bitcoin ETF, is updating its prospectus to reflect leadership changes at its sponsor, Tidal Investments LLC. Effective January 1, 2026, Guillermo Trias moved from Chief Executive Officer to Executive Chairman, focusing on strategic oversight, long-term planning, capital allocation, and major corporate initiatives. On the same date, Gavin Filmore became Chief Executive Officer, having previously served as Head of Product Development and then Chief Operating Officer.
The document also reiterates that, after the close of trading on January 15, 2026, Tidal Investments LLC will voluntarily withdraw as sponsor and transfer its sponsor role to Hashdex Asset Management Ltd.. Hashdex will then serve as the sole sponsor of the Trust and intends to continue the existing business of the Trust and the Fund.