Cryptocurrency asset management company Hashdex has announced its decision to close and liquidate the Hashdex Bitcoin ETF (NYSE Arca: DEFI), which traded in the United States. Thus, DEFI will become the first U.S.-listed spot Bitcoin ETF to be shut down.
According to documents filed by the company with the U.S. Securities and Exchange Commission (SEC), the fund's assets under management as of July 30, 2026, were approximately $14.7 million. The total assets managed by Hashdex across other products offered to U.S. investors exceed $200 million.
Hashdex announced that the liquidation decision was made after evaluating factors such as the fund's size, trading liquidity, operating expenses, investor demand, and the company's overall product strategy. The liquidation plan indicated that the fund's low net assets relative to operating costs made it economically unviable for DEFI to continue operating in the long term.
What Was Included in the Hashdex Bitcoin ETF?
DEFI was an exchange-traded fund investing in Bitcoin on the spot market, designed to provide investors with direct access to the daily price fluctuations of Bitcoin. The fund's portfolio consisted solely of physically held Bitcoin and cash for operational needs, share creation and redemption operations, fees, and other obligations.
The fund did not hold any other cryptocurrencies, stocks, or financial assets besides Bitcoin. DEFI's primary objective was for the change in the net asset value of its shares, after expenses, to reflect the daily price movements of the Nasdaq Bitcoin Reference Price–Settlement index.
Investors can sell their DEFI shares on the NYSE Arca exchange until the close of trading on August 17, 2026. After this date, the fund will no longer accept new creation orders for shares from authorized participants. DEFI shares will be delisted from the exchange after the last trading day.
Hashdex will liquidate its portfolio by selling the Bitcoin remaining in the fund after August 17. Investors who have not sold their shares by the last trading day will receive a cash distribution equal to the net asset value of their shares on the liquidation date. According to the company's statement, distributions are expected around August 28, 2026.
The amount to be distributed to investors will depend on the sale price of the Bitcoin, fees associated with closing the fund, and potential Bitcoin price fluctuations during the liquidation process. Hashdex warned investors that price volatility during this period could be significant.
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