Hashdex Closes Spot Bitcoin ETF Amid Investor Shift to AI
Hashdex's $14.7 million spot bitcoin ETF is set to close and liquidate its assets, marking what may be the first liquidation of a U.S. spot bitcoin offering.
The fund cited low investor interest and dwindling inflows as reasons for the closure, which comes as investors are chasing better returns in AI-related investments. The $BTC price has fluctuated around $63,518.30 in recent days.
According to data from SoSoValue, net outflows have been seen in each of the past three months among U.S. spot bitcoin ETFs. BlackRock's iShares Future AI & Tech ETF gained 39% through July and held $3.6 billion in assets while the crypto market fell roughly 36%, based on the CoinDesk 20 Index.
The Hashdex Bitcoin ETF (DEFI) is the smallest of the U.S. spot bitcoin ETFs by net assets, with only $142.4 million in cumulative net inflows compared to larger funds like WisdomTree's BTCW and BlackRock's IBIT.