Hashdex has initiated the closure of its bitcoin exchange-traded fund, with the product trading under the ticker DEFI on NYSE Arca. The asset manager announced on August 3 that it would terminate the fund, with the final trading day set for August 17, after which new subscription orders will no longer be accepted.

Following the last session, the fund will liquidate its remaining bitcoin holdings and cease all operational activities. Data compiled by Woofun AI shows that as of July 30, the fund managed approximately $14.7 million in assets under the DEFI ticker, a decision driven by a combination of factors including asset size, trading liquidity, and operational costs.

Investors holding positions after August 17 will lose access to NYSE Arca market liquidity and will receive cash distributions based on the net asset value per share at the time of liquidation. That amount is not fixed at $14.7 million, as it will be reduced by liquidation fees and transaction costs, and remains subject to significant price fluctuations while the remaining bitcoin is sold off.

Hashdex expects the closure to be completed by late August, with August 28 serving as an estimated timeline for investors rather than a confirmed deadline. The termination applies solely to the DEFI product within the Hashdex Commodity Trust series and does not affect the Hashdex Nasdaq/Cboe Cryptocurrency Index ETF (NCIQ), which continues to operate independently.

Hashdex still manages other investment products exceeding $200 million in assets for US investors, and its broader business operations remain unaffected by this closure.