Hashdex is shutting down its Bitcoin ETF, leaving investors with just days to sell before a blind, unpredictable cash out
Hashdex is closing its roughly $14.7 million Hashdex Bitcoin ETF (DEFI), one of the early Bitcoin futures ETFs later converted to a spot fund. Holders can sell shares until NYSE Arca closes on Aug. 17; after that, creation/redemption stops and liquidation begins Aug. 18. The fund will sell its Bitcoin holdings, move into cash, and cease tracking its benchmark. Trading is expected to stop before the Aug. 18 open, though a post-suspension secondary market is uncertain. Cash distributions will depend on Bitcoin sale prices, liabilities, and liquidation costs, so the final per-share payout is not fixed. The payment date is unclear: filings conflict between about Aug. 24 and Aug. 28, and Hashdex says the timing may change. Hashdex said continued operation became unreasonable because assets were too small relative to expenses. The fund had warned costs could be excessive below $20 million. Tax treatment will be as a liquidating distribution, with investor-specific consequences.
