Hashdex Closes Underperforming Bitcoin ETF

Hashdex is shutting down its U.S. spot Bitcoin ETF after it amassed only $14.7 million in assets under management. The fund, which traded under the NYSE Arca ticker DEFI, will stop trading on August 17 and be delisted shortly thereafter.

Cash distributions are expected to take place around August 28, when the remaining Bitcoin holdings will be sold off. This marks a significant development in the U.S. spot Bitcoin ETF market, which has seen intense competition over the past two years.

The closure comes as Hashdex continues to manage more than $200 million across its investment products available to U.S. investors. The company cited factors such as assets under management, trading liquidity, operating costs, investor interest, and how the fund fit within its broader product lineup in making the decision to liquidate.