HDAI (Hashdex Digital Assets Index) The definitive benchmark
for digital asset investors.
The HDAI (Hashdex Digital Assets Index) is designed to broadly track a nascent and rapidly-evolving new asset class, serving as a trusted benchmark for digital asset investing.
Assets represented in the HDAI are subject to strict eligibility requirements to guarantee asset legitimacy, institutional-grade custody and meaningful market representation. The HDAI provides long term market representation for sophisticated investors.
These figures are related to the HDAI, not to performance of the Hashdex Digital Assets Index Fund or of any other investment product. HDAI returns are hypothetical and back-tested on data from March 1, 2017 to September 3, 2018 (with actual performance only after September 4, 2018). It is important to understand that hypothetical back-tested index performance information is subject to significant limitations, in addition to the fact that past performance is never a guarantee of future performance. In particular, Hashdex developed the rules of the index with the benefit of hindsight—that is, with the benefit of being able to evaluate how the index rules would have caused the index to perform had it existed during the hypothetical back-tested period. The hypothetical back-tested performance of the index might look different if it covered a different historical period. The actual future performance of the index may bear no relation to the historical or hypothetical back-tested levels of the index. Hypothetical HDAI returns should not be considered representative of the projected returns of the Fund. In addition, performance of the Fund is expected to diverge from that of the HDAI, due to fees and expenses of the Fund and likely tracking error between the Fund and the HDAI. You should independently evaluate an investment in products that intend to track the index as compared to other investments available to you. Please see “Important Information / Index Information” for more details.
Through robust rules that dynamically add or remove constituent assets, the HDAI provides market participants an efficient benchmark that truly represents the Digital Assets market in the long term. The HDAI is reconstituted quarterly and its rules allow investors to confidently track it by passively holding fixed quantities of index constituents.
The HDAI is powered by a solid proprietary asset pricing methodology that fully considers the unique features of Digital Asset markets. The HDAI pricing framework accounts for a high number of exchanges, 24/7 global trading, and activity across multiple trading pairs.
Strict Digital Asset Eligibility
Assets that are eligible for the HDAI must meet strict criteria that enforce the secure investability property of the index. Rules for liquidity, exchange access, support by qualified custodians, and others, ensure that investors can confidently track the HDAI over time.
Governance for Accuracy & Reliability
The HDAI is administered by a tiered governance structure that contains checks and balances at each level. This ensures strict adherence to its methodology while providing the means for the HDAI’s evolution in a maturing digital assets ecosystem. The HDAI is reconstituted and rebalanced quarterly.
HDAI Digital Assets
Total Market Cap (USD)
Number of Constituents
Hashdex Asset Management Ltd. and its affiliates ("Hashdex") is providing this website for information purposes online to sophisticated prospective investors with respect to a potential interest in subscribing shares ("Shares") of the Hashdex Digital Assets Index Fund (the "Fund"). The information herein has not been filed with the U.S. Securities and Exchange Commission, any securities administrator under any state or foreign securities laws or any other governmental or self-regulatory authority. No governmental authority has issued opinions or approvals on the merits of the offering of any securities by the Fund or the adequacy of the information contained herein. Any representation to the contrary is a criminal offense in the United States. Investments in the Fund are speculative investments that involve high degrees of risk. The Shares of are not registered under the Securities Act of 1933 (the "Securities Act"), the Securities Exchange Act of 1934, the Investment Company Act of 1940, or any state or foreign securities laws, and are being offered in private placements pursuant to the exemption from registration provided by Rule 506 of Regulation D, Regulation S of the Securities Act and other similar exemptions in the laws of the states and jurisdictions where the offering will be made. As a result, the Shares are restricted and subject to significant limitations on resales and transfers. Potential investors should carefully consider the long term nature of an investment in the Shares prior to making an investment decision. Shares of the Fund are not insured by the FDIC or any other governmental agency.
This website is not an offer to buy or sell, nor is it a solicitation of an offer to buy or sell, the Shares or any other security or to participate in any advisory services or trading strategy. If any offer and sale of securities is made, it will be in accordance with the Fund's Offering Memorandum (the 'OM') and other definitive documents, which should be read in their entirety, and only in jurisdictions where permitted by law. Any offering or solicitation will be made only to certain qualified investors who are “accredited investors” as defined under Regulation D of the Securities Act, and any investments by U.S. persons will only be permitted to potential investors who demonstrate that status. Investors in the Shares must have the financial ability, sophistication, experience and willingness to bear the risks of such investment.
The OM describes risks related to an investment in the Fund (including loss of the entire investment) and will qualify and supersede the information presented in this website. The descriptions in this website do not purport to be complete, and are subject to the qualifications, restrictions, disclaimers and caveats set forth in the OM. Investors should refer to the OM for more complete information about the Fund, including certain investment risks, management fees and fund expenses. Prospective investors should carefully consider the additional risk and conflicts of interest disclosures in the OM. This website does not constitute part of the OM or other offering document.
Investment in the Fund is highly speculative and is not intended as a complete investment program. It is designed only for sophisticated persons who can bear the economic risk of the loss of their entire investment in the Fund and who have limited need for liquidity in their investment. There can be no assurance that the Fund will achieve its investment objective or return any capital. In making an investment decision, each investor must (i) review the OM and other definitive documents, (ii) rely on its own examination of the company and the terms of the offering, including the merits and risks involved, and (iii) consult with its attorneys and its investment, accounting, regulatory, ERISA, legal, financial and tax advisors to reach an independent assessment of the investment, its risks, adequacy and other relevant matters and to determine the consequences of an investment in the Fund.
Any investment in the Fund may result in the loss of the full amount invested. There can be no assurance that the investment objectives of the Fund will be achieved, and the Fund has a very limited history. Investments in cryptocurrencies are highly speculative and volatile and are subject to many risks, including those described in the OM. As such, the Fund may incur significant losses and investors could lose a part or the entirety or their investment. The Fund's fees and expenses, which may be substantial, will be paid using the Fund's assets, which will reduce the Fund's assets and the corresponding value of the respective investment. As a passively managed fund, the Fund will not be managed to avoid losses from the decline in value of its portfolio, even if such losses or declines were foreseeable by Hashdex or third parties. Neither historical returns nor economic, market or other performance is an indication of future results. There is no guarantee that the views, estimates, opinions or predictions held by Hashdex are currently accurate or that they will be realized. Investors must have the financial ability, sophistication, experience and willingness to bear the risks of an investment in the Fund. The Fund invests in digital assets, the trading prices of which have experienced extreme volatility in their history (including in recent periods) and may continue to do so. For a number of reasons, trading prices for the digital assets held by the Fund could experience steep declines in value and the Shares could lose all or substantially all of their value.
Due to the limited history of cryptocurrencies and the rapidly evolving nature of the cryptocurrency market, it is not possible to know all the risks involved in making an investment in cryptocurrencies, and new risks may emerge at any time. Cryptocurrencies have gained commercial acceptance only within the past decade and, as a result, there is little data on their long-term investment potential. Additionally, due to the rapidly evolving nature of the cryptocurrency market, including the development of new cryptocurrencies and advancements in the underlying technology, it is not possible to predict which cryptocurrencies will be included in the HDAI in the future. New cryptocurrencies or changes to existing cryptocurrencies may expose Fund investors to additional risks which are impossible to predict. This uncertainty makes an investment in the fund very risky.
The information above is not a complete list of the risks and other important factors to be taken into account in an investment in the Fund, and is subject to the more complete disclosures in the OM and definitive documents, which may be provided by Hashdex to accredited investors.
The Hashdex Digital Assets Index ("HDAI") is provided for comparison and informational purposes only, and does not represent actual returns of the Fund. The composition, volatility, and performance of the index may be materially different from that of the Fund. Although this website provides some information on the risks involved in investing in a Fund designed to track the index, back-tested hypothetical performance is not a guarantee of future returns, and one cannot foresee how the index and funds that intend to track it will perform in the future. Index performance does not include the fees and expenses that are charged by the Fund.
The performance of the HDAI prior to September 4, 2018 is not actual performance but is instead hypothetical backtested performance. It is important to understand that hypothetical backtested index performance information is subject to significant limitations, in addition to the fact that past performance is never a guarantee of future performance. Furthermore:
Due to limited availability of historical data, digital asset pricing for the back-tested period is based on limited data provided by third-party providers rather than the Hashdex Digital Asset Reference Price (HDARP) methodology. Using different data sources will yield different but similar results.
The hypothetical back-tested index performance only considers Hashdex Core Exchanges and suitable institutional custody providers as of August 2018, and not such exchanges’ and custodians’ availability and suitability for the different past dates covered.
Hashdex developed the rules of the index with the benefit of hindsight—that is, with the benefit of being able to evaluate how the index rules would have caused the HDAI to perform had it existed during the hypothetical backtested period. The fact that the index generally appreciated over a given hypothetical backtested period may not therefore be an accurate or reliable indication of any fundamental aspect of the HDAI methodology.
The hypothetical backtested performance of the HDAI might look different if it covered a different historical period. The market conditions that existed during the historical period covered by the hypothetical backtested index performance information are not necessarily representative of the market conditions that will exist in the future.It is impossible to predict whether the index will rise or fall. The actual future performance of the index may bear no relation to the historical or hypothetical backtested levels of the index. As the cryptocurrency market involves, new cryptocurrencies have been, and will continue to be, added to the HDAI pursuant to its methodology. As such, past performance of the HDAI, when it included fewer constituents, was attributable to a smaller number of cryptocurrencies than has been included today, and there can be no assurances that a more diversified index will achieve similar returns.
The information above is not a complete list of the risks and other important factors to be taken into account with respect to the HDAI and an investment in the Fund, and is subject to the more complete disclosures in the OM and definitive documents, which may be provided by Hashdex to accredited investors.
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