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Note 4 - Fair Value Measurements - Hashdex Bitcoin Futures ETF

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Fair Value Disclosures [Text Block]

Note 4 - Fair Value Measurements

The Trust’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust’s significant accounting policies in Note 3. The following table presents information about the Trust’s assets and liabilities measured at fair value as of December 31, 2023 and December 31, 2022:

December 31, 2023

Assets:		Level 1				Level 2				Level 3				Balance as of December 31, 2023
Cash Equivalents		$	263,089,306			$	-			$	-			$	263,089,306
Commodity and Cryptocurrency Futures Contracts
Wheat futures contracts			2,237,493				-				-				2,237,493
Bitcoin futures contracts			129,519				-				-				129,519
Total		$	265,456,318			$	-			$	-			$	265,456,318

Liabilities:		Level 1				Level 2				Level 3				Balance as of December 31, 2023
Commodity and Cryptocurrency Futures Contracts
Corn futures contracts		$	2,182,141			$	-			$	-			$	2,182,141
Soybean futures contracts			1,391,661				-				-				1,391,661
Sugar futures contracts			2,687,998				-				-				2,687,998
Wheat futures contracts			4,575,666				-				-				4,575,666
Bitcoin futures contracts			51,376				-				-				51,376
Total		$	10,888,842			$	-			$	-			$	10,888,842

December 31, 2022

Assets:		Level 1				Level 2				Level 3				Balance as of December 31, 2022
Cash Equivalents		$	388,000,477			$	-			$	-			$	388,000,477
Commodity Futures Contracts
Corn futures contracts			1,585,798				-				-				1,585,798
Soybean futures contracts			2,520,370				-				-				2,520,370
Sugar futures contracts			911,329				-				-				911,329
Wheat futures contracts			3,160,732				-				-				3,160,732
Bitcoin futures contracts			29,152				-				-				29,152
Total		$	396,207,858			$	-			$	-			$	396,207,858

Liabilities:		Level 1				Level 2				Level 3				Balance as of December 31, 2022
Commodity Futures Contracts
Corn futures contracts		$	2,967,103			$	-			$	-			$	2,967,103
Sugar futures contracts			85,128				-				-				85,128
Wheat futures contracts			26,380,838				-				-				26,380,838
Total		$	29,433,069			$	-			$	-			$	29,433,069

For the years ended December 31, 2023 and 2022, the Funds did not have any significant transfers between any of the levels of the fair value hierarchy. The determination is made as of the settlement of the futures contracts on the last day of trading for the reporting period. In making the determination of a Level 1 or Level 2 transfer, the Fund considers the average volume of the specific underlying futures contracts traded on the relevant exchange for the periods being reported.

See the Fair Value - Definition and Hierarchy section in Note 4 above for an explanation of the transfers into and out of each level of the fair value hierarchy.

Hashdex Bitcoin Futures ETF [Member]

Notes to Financial Statements

Fair Value Disclosures [Text Block]

Note 4 – Fair Value Measurements

The Fund’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Fund’s significant accounting policies in Note 3. The following table presents information about the Fund’s assets and liabilities measured at fair value as of December 31, 2023 and December 31, 2022:

December 31, 2023

Assets:		Level 1				Level 2				Level 3				Balance as of December 31, 2023
Cash Equivalents		$	1,867,663			$	-			$	-			$	1,867,663
Bitcoin futures contracts			129,519				-				-				129,519
Total		$	1,997,182			$	-			$	-			$	1,997,182

Liabilities:		Level 1				Level 2				Level 3				Balance as of December 31, 2023
Bitcoin futures contracts		$	51,376			$	-			$	-			$	51,376

December 31, 2022

Assets:		Level 1				Level 2				Level 3				Balance as of December 31, 2022
Cash Equivalents		$	701,969			$	-			$	-			$	701,969
Bitcoin futures contracts			29,152				-				-				29,152
Total		$	731,121			$	-			$	-			$	731,121

From the commencement of operations ( September 15, 2022) through December 31, 2022 and the year ended December 31, 2023, the Fund did not have any significant transfers between any of the levels of the fair value hierarchy.

See the Fair Value - Definition and Hierarchy section in Note 3 above for an explanation of the transfers into and out of each level of the fair value hierarchy.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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