Hashdex Shutters Bitcoin ETF After Assets Plummet to $14.7 Million
Hashdex Asset Management has announced it will liquidate its Bitcoin ETF (DEFI) after assets under management fell to $14.7 million. Trading in DEFI, listed on NYSE Arca, will continue until August 17 before shares are delisted and the remaining Bitcoin holdings are sold off.
Hashdex cited a review of the fund's performance, including its trading liquidity, operating costs, investor interest, and how it fit within the company's broader product lineup. The decision to shut down DEFI was not attributed to any single cause, but rather the combination of these factors led to the decision.
The shutdown reflects a trend predicted by Bloomberg Intelligence ETF analyst James Seyffart, who said that growing competition among crypto ETFs could lead to product liquidations as under-subscribed funds struggle to attract assets. In May 2026, Yorkville America Digital withdrew its registration for a Truth Social-branded spot Bitcoin ETF after gathering less than $50 million in assets.
DEFI was one of the first Bitcoin futures ETFs and converted to a spot fund in March 2024, but never scaled against rivals holding tens of billions in assets. The final payout will reflect wind-down and transaction costs as well as bitcoin's price movement during the liquidation window, which could be substantial.