Hashdex to liquidate Bitcoin ETF, sell roughly 225 BTC holdings

Hashdex will liquidate the Hashdex Bitcoin ETF after concluding that the fund’s asset base, trading liquidity, operating costs and investor interest no longer justified keeping it open. The fund had about $14.7 million in assets under management as of July 30, 2026, and it is set to become the first U.S. spot bitcoin ETF to shut down. DEFI will keep trading on NYSE Arca through Aug. 17, after which the fund will be delisted and remaining holders will receive a cash liquidating distribution expected around Aug. 28. Hashdex said the decision followed a review of the fund’s size, transaction liquidity, operating expenses, investor demand and broader product strategy. The liquidation plan said DEFI’s net assets remained low relative to operating expenses, making continued operation economically unfeasible over the long term. The ETF was structured to give investors direct exposure to daily bitcoin price moves through a portfolio holding only physically held bitcoin and cash for operational needs, with its net asset value designed to track the Nasdaq Bitcoin Reference Price–Settlement indicator after expenses. The closure underscores how heavily the U.S. spot bitcoin ETF market is concentrated among a handful of issuers. Hashdex still manages more than $200 million in other products offered to U.S. investors, indicating the shutdown is a single product closure rather than a broader retreat. Investors who do not sell by the final trading day will receive cash based on net asset value on the liquidation date, though the final amount may be affected by bitcoin price swings, transaction fees and the costs of selling the fund’s remaining holdings.