Asset manager Hashdex will shut down and liquidate its Hashdex Bitcoin ETF, which trades on NYSE Arca under the ticker DEFI, according to a Wall Street Journal report cited by ChainCatcher. As of July 30, the fund had about $14.7 million in assets under management. Hashdex said its products aimed at U.S. investors still oversee more than $200 million in assets overall, but the firm decided to close this particular fund after weighing factors including assets under management, trading liquidity, operating costs, and investor interest. The final trading day for the ETF’s shares is set for Aug. 17. After that date, the fund will stop accepting creation orders from authorized participants and will be delisted from NYSE Arca. Shareholders who continue to hold shares through the final trading day are expected to receive a cash liquidation distribution around Aug. 28. Hashdex said the final payment amount will reflect factors including Bitcoin price moves during the liquidation period.
Hashdex will close and liquidate its Hashdex Bitcoin ETF, listed on NYSE Arca under the ticker DEFI, according to a Wall Street Journal report cited by ChainCatcher. As of July 30, the fund had about $14.7 million in assets under management.
Hashdex’s products for U.S. investors still manage more than $200 million in assets in total, the report said. The ETF’s shares will trade for the last time on Aug. 17. After that, the fund will stop accepting creation orders from authorized participants and will be delisted from NYSE Arca.
Shareholders still holding the ETF through the final trading day will receive a cash liquidation distribution, which is expected to be paid around Aug. 28. Hashdex said the amount distributed will reflect factors including Bitcoin price fluctuations during the liquidation period.
The firm said the decision followed a review of assets under management, trading liquidity, operating costs and investor interest.
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