Hashdex to Liquidate Its $14.7M Spot Bitcoin ETF, Potentially Marking the First U.S. Shutdown
TL;DR
- Hashdex will close and liquidate its DEFI bitcoin spot ETF on August 17, in what would be the first closure of a fund of this type in the U.S.
- The fund managed just $14.7 million in net assets, compared to BlackRock’s IBIT, the market leader, with $47.08 billion.
- Flows into bitcoin spot ETFs have been in negative territory for three consecutive months, pressured by the superior performance of AI investments.
Hashdex announced the closure and liquidation of its DEFI bitcoin spot ETF, in what would be the first case of a fund of this type to be liquidated in the United States.
The crypto asset manager cited a comprehensive evaluation of the fund that included assets under management volume, liquidity, operating costs, investor interest, and the product’s positioning within its product lineup.
Hashdex Versus the Market: An Unbridgeable Gap
August 17 will be the last trading day for the DEFI fund. From that date, it will begin to sell its bitcoin holdings and distribute the funds in cash to its shareholders, according to a filing submitted to the U.S. Securities and Exchange Commission (SEC). The difference with the broader market is staggering: U.S. bitcoin spot ETFs have accumulated $77.6 billion in net assets and have received $51.5 billion in net flows since their launch.
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