Hashdex Moves to Delist and Liquidate the DEFI Bitcoin ETF
Hashdex said on August 3, 2026 that it intends to close and liquidate the Hashdex Bitcoin ETF, which trades on NYSE Arca under the ticker DEFI, according to the sponsor’s closure notice. For related coverage, see SEC Allows Hashdex ETF to Include XRP, SOL.
The move is a full fund shutdown rather than a routine portfolio change. Shares will be delisted from NYSE Arca, and the fund’s underlying bitcoin will be unwound and returned to investors as cash. For related coverage, see Top Bitcoin Companies Hold 771,551 BTC in 2025.
DEFI’s U.S. listing traces back to NYSE Arca’s September 22, 2023 proposed rule change to list and trade the fund under Rule 8.500-E, a notice the SEC published on January 8, 2024. The fund’s strategy was later revised, effective March 27, 2024, to permit spot bitcoin holdings after an earlier futures-based structure. For related coverage, see Itaú Unibanco's Bitcoin Market Strategy Under Scrutiny.
Why the Fund Is Closing and What Stands Behind the Decision
The closure follows a period of thin scale for the product. Hashdex reported the fund held about $14.7 million in assets under management as of July 30, 2026, underscoring how small the ETF had become relative to larger spot bitcoin funds.
Hashdex’s own DEFI fund page put total net assets at USD 14.26 million with 200,000 common shares outstanding as of July 31, 2026, closely tracking the sponsor’s July 30 figure.
The fund page also showed holdings of 225.58 BTC, with bitcoin representing 99.53% of the portfolio as of July 31, 2026, quantifying exactly how much bitcoin exposure sits behind the wind-down.
The company is best known for its broader index ambitions, having previously secured SEC clearance to include XRP and SOL in one of its ETFs and moving to add Litecoin through an amended filing. Against that multi-asset push, a small single-asset bitcoin fund carried less strategic weight.
What the Liquidation Means for Investors and the Bitcoin ETF Market
August 17, 2026 is the last day DEFI shares will trade on NYSE Arca, after which the fund will be delisted. Investors who want to exit on the open market must do so before that close.
Shareholders still holding DEFI after August 17 are expected to receive a cash liquidating distribution on or about August 28, 2026, based on the fund’s net asset value at liquidation.
That timing leaves remaining holders exposed to bitcoin price swings through the wind-down window. Bitcoin traded near $63,768, up about 0.5% on the day, meaning the value of any final distribution moves with BTC until the fund’s holdings are sold.
Broader sentiment sits in cautious territory, with the crypto Fear & Greed Index reading 28, or “Fear.” Secondary coverage has framed DEFI’s closure as a low-liquidity, low-AUM shutdown rather than a signal about the wider spot bitcoin ETF category.
The wind-down lands as parts of the market face headwinds, with Bitcoin recently pressured by ETF outflows and the Fed outlook. For DEFI, the key remaining dates are the August 17 delisting and the distribution expected around August 28.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
