Hashdex to Liquidate $14.7M Spot Bitcoin ETF (DEFI) Following Subdued Investor Demand
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Hashdex will liquidate its small $14.7M spot Bitcoin ETF (DEFI) after weak inflows and thin trading, with trading ending Aug. 17 and cash distribution expected around Aug. 28. The closure is idiosyncratic rather than a broad demand signal, but it highlights fee and liquidity pressures among smaller spot BTC ETFs and could create minor, time-bound spot selling during the unwind.
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Hashdex announced on July 31 that it will wind down and liquidate its NYSE Arca-listed spot Bitcoin ETF, the Hashdex Bitcoin ETF (ticker: DEFI), citing a lack of investor interest and limited trading activity. According to a report by The Wall Street Journal, DEFI will cease trading after the market close on Aug. 17, 2024. As of July 30, the fund managed approximately $14.7 million in assets, making it one of the smallest US spot Bitcoin ETFs. Hashdex confirmed that creations will be halted after Aug. 17, with the firm planning to sell the fund's Bitcoin holdings and distribute cash proceeds to shareholders around Aug. 28. Despite the closure, Hashdex stated its broader US crypto ETF strategy remains intact, noting that its Nasdaq CME Crypto Index ETF (NCIQ) held over $206 million as of July 31.
