BTC at 77.2% with ADA and LINK combining for 1.1% of the portfolio — this is a Bitcoin ETF wearing a multi-asset costume. At $102M AUM and a freshly permanent 0.25% fee, Hashdex is competing on cost against iShares and Fidelity spot BTC products, but the "index" framing lets them capture the diversification narrative without taking meaningful alt risk. Market-cap weighting on a seven-asset crypto basket just mathematically guarantees BTC dominance until ETH flips to like 40%+ dominance, so the ADA/LINK additions are more about checking the "we have alts" box for advisor allocation models than any real portfolio construction shift.

Top comment by @Benthic