Hashdex's $14.7M Bitcoin ETF Set for Closure Amid AI Boom

Hashdex's $14.7M DEFI Bitcoin Spot ETF is set to close and liquidate on August 17, marking a potentially historic event in the US market.

The fund has struggled with low net assets compared to its peers, managing just $14.7 million against BlackRock's IBIT, which holds $47.08 billion.

According to data from SoSoValue, flows into bitcoin spot ETFs have been in negative territory for three consecutive months, pressured by the superior performance of AI investments, such as BlackRock's iShares Future AI & Tech ETF, which has gained 39% through July and manages $3.6 billion.

Hashdex cited a comprehensive evaluation of the fund, including assets under management volume, liquidity, operating costs, investor interest, and the product's positioning within its lineup, in making the decision to close the fund.