First US Bitcoin ETF to be Delisted from NYSE After Just 2 Years
Hashdex is shutting down its Bitcoin ETF. It is the primary US spot Bitcoin ETF to announce a closure. In its final full quarter, the fund earned $6,453 in charges.
Shares commerce on NYSE Arca till August 17. Investors who maintain on receives a commission in money round August 28.
Why the First Spot Bitcoin ETF Is Closing
The fund was too small to pay for itself. Hashdex fees a 0.25% price. On $14.56 million, that brings in roughly $26,000 a yr.
Its filings present the slide. Fees totaled $47,521 throughout all of 2025. By early 2026, the quarterly determine was $6,453.
Meanwhile Hashdex coated the payments. Its studies listing custody, audits, attorneys, accountants, SEC charges, and tax paperwork as sponsor prices.
BlackRock fees the identical 0.25%. However, BlackRock’s Bitcoin ETF held $47.5 billion on August 4. That is about 3,260 instances DEFI’s measurement.
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What DEFI Shareholders Face Next
Investors can promote their shares till August 17. Normal dealer charges nonetheless apply. After that date, the shares cease buying and selling and get eliminated from the change.
Hashdex then sells the fund’s 225.58 Bitcoin. Holders obtain their share of the money, minus closing prices.
The sponsor added one warning. Bitcoin’s worth might swing so much throughout that sale. The Bitcoin price traded close to $64,274 on Wednesday, up 0.6%.
Selling early could not be easy both. DEFI traded simply 131 shares on August 4. Those have been price $9,560.
A Category Where Scale Decides Survival
The fund itself labored positive. It tracked Bitcoin’s worth inside 0.02%. It was even rising. Assets climbed 58% between March 31 and August 4, from $9.22 million to $14.56 million.
Its share rely rose from 120,000 to 200,000. Hashdex closed it anyway.
The traditional excuse is unhealthy timing. DEFI launched in 2022 as a futures fund. It switched to holding actual bitcoin in March 2024.
Still, timing isn’t the complete reply. Morgan Stanley listed MSBT in April 2026, far later, and drew about $34 million on day one.
DEFI pulled in $4.27 million in whole. That took greater than two years.
WisdomTree’s BTCW tells an identical story. It fees the identical 0.25% and holds $143.3 million.
Hashdex nonetheless runs over $200 million in US merchandise. So that is one closure, not an exit. The actual query is what number of small issuers can maintain going whereas the five largest asset managers maintain a lot of the cash.
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