Hashdex Winding Down Smallest US-Listed Bitcoin ETF
Hashdex is winding down its spot-price Bitcoin ETF after more than two years in the market. The fund, which holds roughly 225 BTC and has net assets of $14.25 million, will be liquidated due to weak liquidity, high operating costs, and low investor demand.
The DEFI spot Bitcoin ETF peaked at $17.54 million in assets on May 9, 2025, but remains far below its U.S.-listed rivals. The next largest ETF among U.S.-traded Bitcoin funds is WisdomTree Bitcoin Trust, with $140.37 million in net assets as of Friday's market close.
Hashdex will distribute cash to shareholders before selling the fund's approximately 225 BTC holdings. The decision highlights how difficult it remains for smaller Bitcoin ETF issuers to gain scale in the U.S. market, where asset concentration continues to favor bigger products.