This spot Bitcoin ETF only logged six inflow days ever
Hashdex will cease buying and selling its DEFI Bitcoin ETF after the Aug. 17 shut, giving traders a closing window to exit earlier than the fund is liquidated.
In response to an SEC filing, traders who stay after buying and selling ends will obtain money from the liquidation of its Bitcoin holdings by Aug. 28. The eventual payout will mirror the fund’s web asset worth after Bitcoin worth actions, transaction prices, and different closing bills.
The approaching deadline is already shrinking the fund.
Hashdex knowledge confirmed DEFI held about $8.7 million in belongings and 134.95 BTC on Aug. 11, down from $11.77 million and 180.26 BTC on Aug. 7.
Extra considerably, shares excellent fell to 120,000 from 160,000 over these three days, a 25% decline that signifies traders have been redeeming positions forward of the shutdown.
Bitcoin ETF rebound bypasses DEFI
The contraction comes at the same time as cash has returned to US spot Bitcoin ETFs, highlighting how erratically that demand is distributed.
Throughout the earlier week, US spot Bitcoin ETFs attracted $865.3 million in web inflows between Aug. 3 and Aug. 7, Farside Traders knowledge showed.
BlackRock’s IBIT accounted for $693.5 million, or 80.1%, of the whole, leaving roughly $171.8 million for the remainder of the market mixed.
The five-day streak ended Aug. 10, when the group recorded $144.6 million in combination outflows.
Whereas IBIT’s dominance doesn’t clarify Hashdex’s choice to shut DEFI, the distinction exhibits how sturdy headline Bitcoin ETF flows can coexist with weak demand for particular person merchandise.
In the meantime, that weak spot predates the agency’s liquidation effort.
DEFI transformed from its earlier Bitcoin futures technique to allow direct Bitcoin holdings on March 27, 2024, however didn’t document its first day by day influx till December that 12 months.
Because the conversion, the fund has registered solely six influx days and three outflow days, reflecting how not often it attracted recent capital regardless of the broader growth of the spot Bitcoin ETF market.
Its filings present the identical problem attracting capital. DEFI issued $2.14 million of shares in 2025 however redeemed $4.61 million, leading to $2.47 million of web capital outflow and leaving about $11.90 million in web belongings at year-end, its annual filing confirmed.
Exercise then stalled in early 2026. The fund recorded no creations or redemptions within the first quarter, whereas administration charges fell to $6,453 from $20,385 a 12 months earlier. Its annualized gross expense ratio additionally declined to 0.25% from 0.56%, in keeping with its quarterly report.
Regardless of its Bitcoin ETF’s imminent shutdown, the agency maintains that it isn’t abandoning the US market and mentioned it continues to handle greater than $200 million in merchandise accessible to US traders.
