Hashdex Winds Down DEFI Bitcoin ETF Amid Product Review

Hashdex has announced that it will delist and wind down its DEFI Bitcoin ETF after August 17. The fund, which provides spot Bitcoin exposure through a regulated U.S. exchange-traded fund, started in 2022 as a Bitcoin futures ETF before shifting to a spot Bitcoin strategy in March 2024.

DEFI had about $14.7 million in assets as of July 30, making it one of the smaller U.S. spot Bitcoin funds. The company cited a review of its product lineup, considering factors such as assets under management, trading liquidity, operating costs, and investor demand before deciding to wind down the fund.

Shareholders who keep DEFI shares through the final trading day will not receive Bitcoin but will instead receive cash after the liquidation. The company expects the cash distribution around August 28, with the final amount depending partly on Bitcoin's price during the liquidation period and the fund's remaining expenses.