Hashdex Closes US Spot Bitcoin ETF Amid Investor Shift to AI
Hashdex is closing its U.S. spot Bitcoin ETF due to low assets under management. The fund has $14.7 million in net assets, significantly lower than larger rivals like BlackRock's IBIT at $47.08 billion. This marks the first closure of a U.S. spot bitcoin exchange-traded fund.
The decision follows a review of assets under management, liquidity, operating costs, investor interest, and the fund's role in its broader product lineup. Hashdex says it will liquidate the fund after its final trading day on August 17 and sell the remaining Bitcoin holdings before distributing cash proceeds to shareholders.
U.S. spot bitcoin ETFs have seen three consecutive months of net outflows as investors shift towards AI-linked strategies with stronger returns. Despite this, the category still holds $77.6 billion in net assets and has attracted cumulative net inflows of $51.5 billion.