Hashdex Winds Down DEFI Bitcoin ETF Amid Low Liquidity and High Costs

Hashdex has initiated the liquidation of its DEFI Bitcoin ETF, which had approximately US$ 14.7 million in assets as of July 30.

The fund's last trading day was August 17 on NYSE Arca, and since then, remaining shareholders have been waiting for a cash distribution at the end of August.

According to Hashdex, DEFI stopped accepting creation orders on August 17, after which the planned operation was to sell the remaining Bitcoins and wind down the fund's activities.

The liquidation plan, submitted to the SEC, stated that DEFI's net assets relative to operating expenses made it unreasonable to maintain the fund over the long term.