The crypto asset manager will close its U.S. spot Bitcoin ETF due to low investor demand and high operating costs.
Hashdex will shut down its Hashdex Bitcoin ETF (DEFI) after accumulating only $14.7 million in assets under management. The fund will cease trading on Aug. 17 and liquidate its Bitcoin holdings, with cash distributions to shareholders expected by Aug. 28.
The decision follows an evaluation of assets, trading liquidity, costs, and investor interest. The firm manages over $200 million across other U.S. investment products but determined the ETF no longer fit its strategic lineup.
Shareholders will receive proceeds from the fund’s liquidation, though final payouts may differ from current valuations due to Bitcoin price fluctuations.