Hashdex Liquidates $14.7M Bitcoin ETF Amid Soaring Crypto Inflows

Hashdex's $14.7 million Bitcoin ETF, DEFI, has ceased trading and will be liquidated after its last day on NYSE Arca on August 17.

The fund's sponsor, Hashdex, announced the closure on August 3 and stated that it would wind up operations by selling off its remaining Bitcoin holdings.

DEFI's net assets relative to operating expenses made it imprudent to continue the fund in the long term, according to Hashdex's formal liquidation plan filed with the SEC.

The closure of DEFI does not signal a trend for other U.S. Bitcoin products, as BlackRock's iShares Bitcoin Trust (IBIT) accounted for $143.6 million in provisional net inflows on August 18, totaling $189.3 million across all U.S. Bitcoin ETFs.

Investors who held DEFI past August 17 will receive a cash distribution based on the fund's net asset value during liquidation, which may vary due to closing costs and Bitcoin price movements.