Hashdex to Liquidate DEFI as First Spot Bitcoin ETF Set to Close

Hashdex said it will wind down and liquidate the DEFI spot Bitcoin ETF, making it the first spot Bitcoin exchange-traded fund to cease operations. The ETF oversaw roughly $14.7 million in assets as of July 30.

Trading and new subscriptions will end on Aug. 17, with the fund scheduled for removal from NYSE Arca thereafter. Shareholders are expected to receive cash proceeds from the liquidation on or about Aug. 28.

The asset manager attributed the decision to a combination of factors, including the fund’s scale, market liquidity, operating expenses, investor demand and its broader product lineup.

Source: Hashdex