Hashdex implemented a two-tier staking income structure for its NCIQ ETF, where provider fees are deducted first, then Hashdex receives all net staking income up to a threshold equal to 0.25% of common share net asset value via a sponsor share before any sharing with shareholders. Above that threshold, income is split 40% to Hashdex and 60% to the trust for ordinary shareholders. As of July 26, Ethereum represented 11.75% of NCIQ’s holdings, Solana 3.17% and Cardano 0.49%, totaling 15.41%, with the fund targeting a staking range of 10% to 20% of total NAV. Coinbase Cloud was named as the initial staking provider, with fees of 8% on gross ether staking rewards, 8% validator commission for Solana and 5% for Cardano.
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