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Hashdex to close spot bitcoin ETF DEFI after Aug. 17

DEFI has $14.7 million in net assets, and will liquidate its bitcoin holdings and distribute cash to shareholders after its final trading day.

Reported · Written up by our desk · Market Structure

Hashdex will close and liquidate its U.S. spot bitcoin ETF, DEFI, after Aug. 17, in what appears to be the first shutdown of a U.S. fund holding bitcoin directly, according to CoinDesk.

The fund, which launched with U.S. spot bitcoin ETF approvals in January 2024, held $14.7 million in net assets, making it the smallest in the lineup by that measure. Its assets were far below Wisdom Tree’s BTCW at $142.4 million and BlackRock’s IBIT at $47.08 billion, CoinDesk reported.

Hashdex said the decision reflected an evaluation of factors including assets under management, liquidity, operating costs, investor interest, and how DEFI fits within Hashdex’s broader product suite. CoinDesk also noted that flows into the spot bitcoin ETFs have dwindled over the past three months.

CoinDesk pointed to SoSoValue data showing net outflows in each of the prior three months, as investors shifted toward AI-related returns. BlackRock’s iShares Future AI & Tech ETF gained 39% through July, while the broader crypto market fell about 36% based on the CoinDesk 20 Index, CoinDesk said.

Latest closeBitcoin $63,729.65 ▲0.4%

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