Hashdex Closes Underperforming Bitcoin ETF After Two-Year Run
Hashdex has announced it will shut down its smallest Bitcoin ETF after more than two years of operation. The spot-price Bitcoin exchange-traded fund, which was never able to attract more than $18 million in net assets, will distribute cash to remaining shareholders and sell its approximately 225 BTC holdings within the coming weeks.
The decision to liquidate the fund was made after evaluating factors such as trading liquidity, operating costs, and investor interest. The fund's website shows it has a net asset value of $14.25 million, with roughly 200,000 shares traded on NYSE ARCA under the DEFI ticker since March 2024.
Originally launched in 2022 as a Bitcoin futures ETF, Hashdex Bitcoin Futures ETF saw its highest asset level at $17.54 million on May 9, 2025, according to data tracker SoSoValue. The fund's performance has been underwhelming compared to other competing BTC ETFs.