Bitcoin
Hashdex Liquidates Spot Bitcoin ETF After Failing to Build Assets
The fund, which peaked at $18 million in assets despite launching when Bitcoin was near all-time highs, will distribute remaining cash to shareholders and sell its 225 BTC holdings this month.
Hashdex announced the liquidation of its spot-price Bitcoin exchange-traded fund, which has traded on NYSE ARCA under the DEFI ticker since March 2024. The fund will distribute proceeds to remaining shareholders and sell its approximately 225 BTC holdings over the coming weeks.
The fund never gained meaningful traction despite launching at a time when Bitcoin was trading above $73,000. Its net assets reached a peak of $17.54 million on 9 May 2025, and currently stand at $14.25 million across 200,000 shares. The decision came after evaluating trading liquidity, operating costs, and investor interest.
Hashdex was late to the spot Bitcoin ETF market, entering months after 10 competing products had already launched. By comparison, WisdomTree Bitcoin Trust, the next largest among US-traded Bitcoin ETFs, holds $140.37 million in net assets. The fund was originally launched in 2022 as a Bitcoin futures ETF before pivoting to a spot-price structure.
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