Key facts
- Hashdex is liquidating its spot-price Bitcoin ETF.
- The fund will sell its approximately 225 BTC holdings.
Hashdex will liquidate its spot-price Bitcoin ETF this month, citing low trading liquidity, operating costs, and investor interest. The fund, which held approximately 225 BTC, will distribute cash to shareholders and sell its holdings.
The liquidation of Hashdex's Bitcoin ETF highlights the challenges faced by newer crypto-focused funds in attracting and retaining assets amidst a competitive market and fluctuating investor interest.
Hashdex has announced it will liquidate its spot-price Bitcoin exchange-traded fund, citing insufficient trading liquidity, operating costs, and investor interest. The fund, which held approximately 225 BTC, will sell its holdings and distribute the proceeds to remaining shareholders.
The ETF, which traded on NYSE ARCA under the DEFI ticker since March 2024, had net assets of $14.25 million. It was launched in 2022 as a Bitcoin futures ETF and reached its highest asset level of $17.54 million on May 9, 2025.
Analysts had noted the fund's late entry into the market, with other competing BTC ETFs debuting months earlier. Despite this, some saw potential if the fees were competitive, especially when Bitcoin was trading near its all-time high of over $73,000.