Hashdex announced the liquidation of its spot Bitcoin exchange-traded fund, the smallest in the US market. The fund, which never managed to attract more than $18 million in net assets, will distribute cash to shareholders and sell its roughly 225 BTC in the coming weeks. Launched in March 2024 under the DEFI ticker on NYSE ARCA, the ETF reached its highest asset level of $17.54 million on May 9, 2025. The second smallest US Bitcoin ETF, WisdomTree Bitcoin Trust (BTCW), now holds $140.37 million in net assets, roughly ten times more.
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