Hashdex liquidates $14.7 million Bitcoin ETF as IBIT draws $143.6 million

Hashdex’s $14.7 million Bitcoin ETF is in liquidation after trading and creation orders ended, leaving remaining shareholders waiting for a cash payout rather than an exchange exit.

The asset manager announced the closure on Aug. 3. The Hashdex Bitcoin ETF, known by its DEFI ticker, completed its last day of NYSE Arca trading on Aug. 17 and stopped accepting creation orders on the same date. Hashdex said the fund would then liquidate its remaining Bitcoin and wind up its operations.

The closure came just before a positive day for other U.S. Bitcoin products. Farside Investors, which publishes an automatically updated table of ETF flows, showed a provisional $189.3 million of net inflows across the products in its Aug. 18 row. BlackRock’s iShares Bitcoin Trust, or IBIT, accounted for $143.6 million.

Hashdex reported approximately $14.7 million of DEFI assets under management as of July 30. The sponsor said it considered the fund’s asset base, trading liquidity, operating costs, investor interest, product fit and other operational factors.

The formal liquidation plan filed with the SEC was more specific: DEFI’s net assets relative to its operating expenses made it unreasonable and imprudent to continue the fund over the long term.