Hashdex Asset Management is shutting down its spot Bitcoin ETF, ticker DEFI, after two years of failing to attract meaningful assets, with net assets never exceeding $18 million. The fund, which peaked at just $18 million, held approximately $14.7 million in assets and roughly 225 BTC as of July 30. The ETF will stop trading on NYSE Arca on August 17, 2026, with investors expected to receive cash payouts around August 28. This closure highlights the winner-take-most dynamics of the US spot Bitcoin ETF market, where products like BlackRock’s iShares Bitcoin Trust capture the vast majority of inflows while smaller funds struggle to survive.
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