Hashdex Closes US Spot Bitcoin ETF, Liquidating $14.3M Fund

Hashdex, a crypto asset manager, is closing and liquidating its US-listed spot Bitcoin ETF, marking one of the first shutdowns since spot Bitcoin ETFs were approved in the United States. The fund will cease trading on August 17, after which it will be liquidated, and shareholders will receive cash distributions based on the value of the fund's underlying Bitcoin holdings.

The Hashdex Bitcoin ETF (NYSE Arca: DEFI) currently manages approximately $14.3 million in net assets, making it one of the smallest spot Bitcoin funds in the US market. The closure follows a review of the fund's operational viability and comes as competition among spot Bitcoin ETF issuers continues to intensify.

Hashdex did not indicate that the decision reflected a change in its long-term view of Bitcoin. Instead, the liquidation appears to be driven by commercial considerations, including the fund's relatively modest asset base and investor demand.