Hashdex's Bitcoin ETF Becomes First Spot ETF to Announce Liquidation

Hashdex's Bitcoin ETF (NYSE Arca: DEFI) has become the first spot Bitcoin ETF in the U.S. market to announce liquidation, citing low assets under management and trading liquidity as key factors.

The decision was made after a comprehensive assessment of various factors, including asset performance, operating costs, and investor interest.

DEFI held approximately $14.7 million in assets under management as of July 30, with about 225.58 BTC, and delivered cumulative returns of around 166% since inception.

The fund's annual revenue from management fees is mere $36,700 at the current asset level, which falls short of covering operating costs estimated to be between $500,000 to over $1 million annually.