Hashdex Shuts Down Bitcoin ETF in the U.S.

Hashdex Asset Management has announced the closure of its Bitcoin ETF, the first of its kind in the U.S., due to various operational challenges.

Hashdex Asset Management, based in Brazil, has announced the closure of its Hashdex Bitcoin ETF, marking the first instance of a spot bitcoin exchange-traded fund in the United States shutting down. As of July 30, the fund managed approximately $14.7 million and held around 225 BTC.

Trading on NYSE Arca will cease on August 17, after which the fund will liquidate its cryptocurrency holdings and distribute the proceeds to shareholders. The company attributed its decision to factors including asset size, liquidity, operational costs, and investor interest. However, Hashdex continues to manage over $200 million across other products targeted at the U.S. market.

Hashdex Shuts Down First Spot Bitcoin ETF in the U.S.