Hashdex to shut down $14.7M Bitcoin ETF DEFI

Hashdex will close and liquidate its US-listed Bitcoin ETF, DEFI, after the fund struggled to attract enough assets and trading activity to remain viable. Summary DEFI held approximately $14.7 million in assets as of July 30. The fund’s final trading day is Aug. 17, followed by its NYSE Arca delisting. Remaining shareholders should receive a cash liquidation payment around Aug. 28. Hashdex’s separate $206.8 million NCIQ crypto index ETF remains active. DEFI will stop trading on Aug. 17 According to a WSJ report, asset management company Hashdex said the Hashdex Bitcoin ETF, which trades on NYSE Arca under the DEFI ticker, will stop trading after the market closes on Aug. 17. The company will then begin liquidating the fund’s assets and delist its shares. The fund will also stop accepting creation orders from authorized participants after that date. Investors can continue buying and selling shares through their brokers until the final trading session, although market prices may differ from the fund’s net asset value as the closure approaches. Hashdex attributed the decision to several factors, including the fund’s asset base, trading liquidity, operating expenses and investor demand...