The $14.7 million Hashdex DEFI ETF will liquidate after Aug. 17, marking the first closure of a US spot bitcoin fund.
Hashdex will liquidate its DEFI spot bitcoin ETF, the smallest US fund with $14.7 million in assets, after Aug. 17. The closure follows three consecutive months of net outflows across the sector as investors shift toward AI-driven equities.
DEFI’s assets trailed peers, including WisdomTree’s BTCW at $142.4 million and BlackRock’s IBIT at $47.08 billion. While bitcoin futures ETFs have closed before, no US spot bitcoin fund had previously been liquidated. Hashdex cited low assets, high costs, and limited investor interest in its decision.
Spot bitcoin ETFs, approved in January 2024, have seen declining inflows as AI-related investments outperform. BlackRock’s AI-focused ETF surged 39% through July, holding $3.6 billion in assets.