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From Shorts to Longs: Ceasefire and Schwab Fuel Crypto's Best Week in Months

Inside the NCI

Nasdaq CME CryptoTM Index Performance (Weekly):

 

The NCI rose 1.4% last week, snapping a multi-week losing streak as reports of a Pakistan-brokered U.S.–Iran ceasefire lifted risk assets. Bitcoin reclaimed $70,000, triggering $273M in short liquidations, while the S&P 500 and Nasdaq posted their strongest weekly rallies since the conflict began. Rising open interest and positive funding rates suggest traders are adding directional exposure, not just covering shorts. 

 

CIO’s view: 

 

The ceasefire-driven rally is encouraging, but its durability remains uncertain. Oil is still above $107 and the Fed’s policy direction remains unclear as inflation fears persist. We expect the NCI to remain in the 3,000–3,600 range and BTC between $62,000–$74,000 until a concrete de-escalation materializes.

 

Key Developments 

 

Charles Schwab announced it would support spot Bitcoin and Ethereum trading on its platform in the coming months

Ripple's national trust bank charter became operational on following the OCC's expanded scope for bank trust activities

The Ethereum Foundation reached its 70,000 ETH staking target by depositing 45,034 ETH on April 3

 

NCI Performance (YTD)

 

 

 

The Nasdaq CME CryptoTM Index is designed to measure the performance of a significant portion of the digital asset market and to provide a benchmark for institutional investment in this new and emerging asset class. The Index is specifically designed to be dynamic in nature, broadly representative of the market, and readily trackable by investors.

 

Overview
Methodology
Constituents

 

NCI constituents as of December 31, 2025: Bitcoin (75.4%), Ethereum (13.8%), Ripple (6.1%), Solana (3.3%) , Cardano (0.7%), Chainlink (0.4%), and Stellar (0.3%).
Third-party data is for informational use only. [1] Yahoo Finance [2] Yahoo Finance [3] TradingView. Data accessed on March 30, 2026.

 

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NCIQ: Effective January 20, 2026, the Fund changed its name from Hashdex Nasdaq Crypto Index US ETF (NCIQ) to Hashdex Nasdaq CME Crypto Index ETF (NCIQ)

Effective January 20, 2026, the index changed its name from Nasdaq Crypto Index (NCI) to Nasdaq CME Crypto™ Index.

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