BESO vs NCIQ

BESOCGSR Crypto Core3 ETF

NCIQAHashdex Nasdaq Crypto Index US ETF

In short

BESO Three coins, one ticker. BESO holds Bitcoin, Ethereum and Solana inside a 1940 Act fund whose stated goal pairs capital appreciation with current income, while much of the field tracks broader crypto indexes.

NCIQ A passive basket of the digital assets in a Nasdaq index, run at 0.25% a year while the typical multi-coin crypto fund charges more than double that. It tracks the index and makes no attempt to beat it.

Stated mandate

BESO The Fund seeks capital appreciation and current income.

NCIQ The Trust seeks to match the daily price changes of its reference index, after expenses and liabilities, by investing in the index's digital-asset constituents. It uses a passive strategy and does not seek to outperform the index.

Why people hold it

• BESO The roster stops at Bitcoin, Ethereum and Solana. No long tail of micro-cap tokens riding along, so you always know exactly which three chains you own.
• The stated objective is capital appreciation and current income, a second job most crypto baskets don't take on.
• Comes in a 1940 Act registered-fund wrapper, the same structure behind conventional stock and bond ETFs, bought in a brokerage account with no wallets or keys.

• NCIQ Charges 0.25% a year, well under half the 0.59% median for multi-coin crypto baskets such as GDLC and KRYP.
• Narrow, literal mandate: match the daily moves of the Nasdaq CME Crypto Settlement Price Index after expenses, no outperformance attempt. It has hewed closely to that job.
• One ticker buys the whole index basket, so no exchange accounts, wallets or self-custody to manage.

Worth knowing

• BESO At 1.00% a year it sits at the pricier end of the crypto-basket shelf: EZPZ charges nothing and NCIQ 0.25%.
• A 2026 launch, still small and thinly traded, which usually means wider bid-ask spreads than the category's household names.
• The income half of the mandate has no set payout schedule behind it yet, so treat distributions as a possibility rather than a feature.

• NCIQ Structured as a trust rather than a registered fund, so the protections investors get under the Investment Company Act do not apply here.
• Generally pays no cash distributions, so any return has to come from price moves alone.
• Crypto prices swing hard, and with a January 2025 launch the live track record is still short.

Full BESO profile⁠

Full NCIQ profile⁠