- Hashdex will close and liquidate its Bitcoin ETF, which manages about $14.7 million.
- Trading ends Aug. 17, with cash distributions expected around Aug. 28.
- The closure follows more than two years of fierce competition in the U.S. spot Bitcoin ETF market.
Hashdex is shutting down its U.S. spot Bitcoin exchange-traded fund after it amassed just $14.7 million in assets under management. According to a filing with the U.S. Securities and Exchange Commission on Monday, the fund will stop trading after the market closes on Aug. 17 before being delisted.
Shareholders who still own the fund at that point are expected to receive cash distributions on or about Aug. 28 after the fund sells its remaining Bitcoin holdings. The filing stated: “Following the Last Trading Day, the Fund will liquidate its remaining Bitcoin holdings. The Fund will no longer pursue its stated investment objective and will not engage in any business activities other than winding up its business and affairs.”
Hashdex evaluated factors including assets under management, trading liquidity, operating costs, investor interest, and how the fund fit within its broader product lineup before deciding to liquidate. The firm said it continues to manage more than $200 million across investment products available to U.S. investors.
The closure comes more than two years after Hashdex entered the U.S. spot Bitcoin ETF market, following the SEC’s landmark approval in January 2024. In March 2024, the firm converted its Bitcoin futures ETF into a spot Bitcoin ETF, holding roughly 5,500 Bitcoin at that time.
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