Hashdex to close and liquidate its spot Bitcoin ETF (DEFI) with $14.7M AUM, becoming the first spot Bitcoin ETF to shut down.
Ecosystem ·
Hashdex announced the closure and liquidation of its Hashdex Bitcoin ETF (NYSE Arca: DEFI), marking the first spot Bitcoin ETF to shut down. As of July 30, the fund held approximately $14.7 million in assets under management.
The wind-down will proceed in stages: trading and new subscriptions cease on August 17, followed by delisting from NYSE Arca. Cash liquidation proceeds are expected to reach investors around August 28. Hashdex attributed the decision to multiple factors, including the fund's size, liquidity constraints, operating costs, investor demand, and its broader product strategy.
The closure represents a notable shift in the spot Bitcoin ETF landscape, though the specific circumstances driving this particular fund's inability to achieve scale or profitability remain largely tied to the company's own assessment of operational viability.