Hashdex to Close Bitcoin ETF After 14.7 Million USD in Assets

Hashdex is shutting down its U.S. spot Bitcoin exchange-traded fund after accumulating 14.7 million USD in assets under management. A filing with the U.S. Securities and Exchange Commission stated that the Hashdex Bitcoin ETF (NYSE Arca: DEFI) will cease trading after the market closes on Aug. 17 and will be delisted. Shareholders will receive cash distributions around Aug. 28 after the fund liquidates its remaining Bitcoin holdings. The filing noted that the fund will no longer pursue its investment objective and will focus solely on winding up its business, preserving asset value, paying liabilities, and distributing remaining assets to shareholders. Hashdex evaluated factors such as assets under management, trading liquidity, operating costs, investor interest, and the fund's alignment with its product lineup before deciding to liquidate. The firm continues to manage over 200 million USD across investment products for U.S. investors. The closure follows Hashdex's entry into the U.S. spot Bitcoin ETF market over two years ago, after the SEC approved the first spot Bitcoin ETFs in January 2024. In March 2024, Hashdex converted its Bitcoin futures ETF, trading under the DEFI ticker since September 2022, into a spot Bitcoin ETF in August 2023, holding approximately 5,500 Bitcoin. The company also aimed to expand its U.S. offerings with a combined Bitcoin and Ethereum ETF, but the SEC delayed a decision on this proposal in August 2024.

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