A First in History: A Bitcoin Spot ETF Has Decided to Close

Cryptocurrency asset management company Hashdex announced its decision to close and liquidate the Hashdex Bitcoin ETF (NYSE Arca: DEFI), which was traded in the US. With the completion of this decision, DEFI will be the first spot Bitcoin ETF to be shut down in the US.

According to documents the company filed with the U.S. Securities and Exchange Commission (SEC), the value of assets under management by the fund was approximately $14.7 million as of July 30, 2026. Hashdex’s total assets managed in other products offered to U.S. investors exceed $200 million.

Hashdex announced that the decision to liquidate was made after evaluating factors such as the fund’s size, transaction liquidity, operating expenses, investor demand, and the company’s broader product strategy. The liquidation plan stated that the fund’s net assets remaining low compared to operating expenses made it economically unfeasible for DEFI to continue operating in the long term.

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What Was the Content of the Hashdex Bitcoin ETF?

DEFI was a spot Bitcoin ETF designed to offer investors direct exposure to daily fluctuations in the Bitcoin price. The fund’s portfolio consisted solely of physically held Bitcoin and cash held for operational needs, share creation and repurchase transactions, fees, and other liabilities.

The fund did not hold any cryptocurrencies, stocks, or financial assets other than Bitcoin. DEFI’s primary goal was for the change in the net asset value of its shares, after deducting expenses, to reflect the daily price movements in the Nasdaq Bitcoin Reference Price–Settlement indicator.

Investors can sell their DEFI shares on the NYSE Arca until the close of trading on August 17, 2026. After that date, the fund will no longer accept new share creation orders from authorized participants. DEFI shares will be delisted from the exchange following the final trading day.

Hashdex will liquidate its portfolio by selling the Bitcoins remaining in the fund after August 17. Investors who did not sell their shares by the last trading day will receive a cash payment equivalent to the net asset value of their shares on the liquidation date. According to the company’s statement, payments are expected to be made around August 28, 2026.

The amount to be distributed to investors will be affected by the cost of selling the Bitcoins, transaction fees associated with closing the fund, and potential price fluctuations in Bitcoin during the liquidation process. Hashdex warned investors that price movements during this period could be significant.

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