Hashdex has begun liquidating its DEFI Bitcoin ETF, marking the first closure of a US spot Bitcoin ETF since the category launched in 2024. The fund ceased trading on NYSE Arca on August 17. Liquidation was driven by insufficient assets under management, approximately $14.7 million, and high operating costs. Cash distributions are expected between August 24 and August 28. This closure does not undermine the broader Bitcoin ETF market, which remains dominated by major issuers like BlackRock and Fidelity.
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