Hashdex is pulling the plug on its smallest Bitcoin ETF. The fund, which has been trading for over two years, never managed to attract more than $18 million in net assets. The firm will pay out investors and sell off the roughly 225 BTC it holds in the coming weeks.
A tiny fund in a big market
The ETF's size was always modest compared to the multi-billion-dollar Bitcoin ETFs from BlackRock and Fidelity. Hashdex's fund never gained significant traction, even as the broader market for crypto ETFs exploded in 2025 and 2026. The $18 million peak is a fraction of what some single-day inflows look like for the largest funds.
What happens to the Bitcoin
Hashdex will liquidate the 225 BTC and distribute the proceeds to shareholders. The exact timeline hasn't been specified, but the firm said it will happen in the coming weeks. Investors can expect cash payouts based on the Bitcoin price at the time of sale.
Why now
The decision comes after more than two years of the fund failing to gain meaningful assets under management. Running a Bitcoin ETF carries operational costs — custody, trading, compliance — and at $18 million, the economics likely didn't make sense. Hashdex hasn't said whether it plans to launch a different product to replace it.
For now, the focus is on winding down the fund cleanly. Investors holding shares should see the cash in their accounts once the liquidation is complete.
