Hashdex Bitcoin ETF Shuts Down Amid Financial Strains

The $14.7 million Hashdex Bitcoin ETF is shutting down and will begin liquidating its assets on August 18th, leaving investors with just a few days to sell their holdings before cash out.

The decision was made due to the fund's asset base of around $14.7 million being unable to cover operating expenses, which includes a 0.25% annual management fee equivalent to about $36,750 per year based on the July 30 asset value.

Holders who stay past August 17th will enter into a cash wind-down and their payout will be determined by the sale price of Bitcoin at the time of liquidation and closing costs.

The official payout date is uncertain, with Hashdex's filings pointing to either August 24th or 28th for cash distributions.