Hashdex plans liquidation of DEFI US spot Bitcoin ETF
Hashdex, a crypto asset manager, is shutting down its DEFI spot Bitcoin ETF in the US after a little over two years since its spot conversion.
It may be the first time a US fund that actually holds Bitcoin is being liquidated.
The main reasons? Not enough investor interest, small fund size, operating costs, and its place within the company's broader product lineup.
DEFI trading stops August 17
DEFI launched in March 2024 but never really caught on in the crowded $77.6 billion US spot bitcoin ETF market.
It had the lowest inflows compared with rivals like BlackRock's IBIT, which holds $47.08 billion in net assets.
Trading for DEFI stops on August 17, and Hashdex will return cash to shareholders after selling off its remaining Bitcoin.
Even with this closure, Hashdex still manages over $200 million across other US crypto funds.