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Crypto

Hashdex Closes First-Ever Spot Bitcoin ETF with $14.7M in Assets

Guavy AI Editorial Team
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Hashdex has made the decision to close and liquidate its Bitcoin ETF (NYSE Arca: DEFI), making it the first spot Bitcoin ETF to shut down. The fund had approximately $14.7 million in assets under management as of July 30.

The trading and new subscriptions for the product will end on August 17, after which the fund will be delisted from NYSE Arca. Investors are expected to receive cash liquidation proceeds around August 28.

According to Hashdex, the decision was based on various factors including the fund's size, liquidity, operating costs, investor demand, and the company's broader product strategy.

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