Hashdex Bitcoin ETF Liquidation: Countdown, Payout Dates, and What Holders Need to Know

What is happening to the Hashdex Bitcoin ETF and when

Hashdex Asset Management announced on August 3, 2026 that it will close and liquidate the Hashdex Bitcoin ETF (NYSE Arca: DEFI), the only fund in the Hashdex Commodities Trust. The one date every document agrees on: after the close of August 17, 2026, trading in DEFI on NYSE Arca will be suspended and no new creation orders will be accepted. What remains unresolved—and immediately relevant to any DEFI holder—is when exactly shareholders will receive their cash. The fund’s own filings give two different answers (more below). As of July 30, the ETF held about $14.7 million in assets under management, according to the sponsor. For more on the initial closure news, see CoinGabbar's earlier report on the Hashdex Bitcoin ETF shutdown and Hashdex's closure announcement on EDGAR. For background on Hashdex itself, Decrypt's coverage sets the context.

Two payout dates in one filing package: what the record actually says

Hashdex’s August 3 filing package gives DEFI shareholders two payout timelines. The Form 8-K (Item 7.01) states liquidation proceeds are expected to be distributed on or about August 24, 2026, defined as the Liquidation Date—but adds that this is “subject to change.” The 424B3 prospectus supplement uses the same August 24 date, warning there may be no market for shares between August 17 and the payout. But the press release attached to the very same 8-K says the cash will arrive “on or about August 28.” CryptoSlate also flagged the split payment calendar, confirming this is not a transcription error. Most news outlets reported only the August 28 date. For now, DEFI holders should treat August 24–28 as a window, all of it subject to change, and monitor EDGAR for a new supplement or update.

Cash, not bitcoin: how the liquidating distribution is calculated

If you hold DEFI past the last trading day, you will not receive bitcoin. The fund will sell its remaining bitcoin and pay out a cash distribution. That amount equals the net asset value (NAV) of your shares as of the Liquidation Date, minus closing and transaction costs. The NAV will reflect bitcoin price changes during the wind-down period, which Hashdex’s own filing warns may be substantial. After August 17, the fund stops pursuing its investment objective and exists solely to wind down, preserve value, pay liabilities, and distribute cash. The exact per-share payout cannot be calculated today: the current number of shares outstanding is not disclosed in the filings, so any estimate would be speculation. Key terms:

• NAV (Net Asset Value): The total value of fund assets minus liabilities, divided by shares outstanding.
• Liquidating distribution: The cash payout to holders when the fund closes.
• Authorized participant: An institution allowed to create or redeem ETF shares in large blocks (creation baskets).
• Creation basket: The minimum block of ETF shares that can be created or redeemed by an authorized participant.

Delisting mechanics: Form 25, Section 12(b) and the post-effective amendment

NYSE Arca will file a Form 25 with the SEC to withdraw DEFI’s listing. Delisting becomes effective 10 days after that filing. The sponsor will also deregister the shares under Section 12(b) of the Exchange Act and file a post-effective amendment to terminate the offering of any unsold shares, expected to be effective August 17. Since DEFI is the trust’s only series, the sponsor will dissolve the trust itself. The Plan of Liquidation, on file with the SEC, states that the trigger is a determination that net assets relative to operating expenses make it unreasonable or imprudent to continue the fund long term, under Article XIII of the Delaware statutory trust declaration. The full document is available as the Plan of Liquidation and Termination.

Why a $14.7 million fund could not stay open

Hashdex cited several reasons for the closure: assets under management, trading liquidity, operating costs, investor interest, and how the fund fits into its broader index-based product range. The last quarterly disclosure (Q3 2025) showed net assets of $15.53 million, 120,000 shares, a NAV per share of $129.44, and 134.87 bitcoin held. The management fee was cut to 0.25% in February 2025. According to TheStreet, that fee level on $14.7 million generates roughly $37,000 a year—while actual Q1 2026 fee income was $6,453 (annualized near $26,000). FXStreet, citing SoSoValue, reported $4.27 million in net inflows since the spot conversion and average daily trading volume near $131,000. Hashdex says it continues to manage over $200 million in US-available products, so this is a product-line trim, not an exit from the US. For context on their broader ETF offerings, see Hashdex's multi-asset crypto index ETF clearance. For more on liquidity, see FXStreet's liquidity breakdown.

Where DEFI sat in the US spot bitcoin ETF field

CoinDesk reported that the Hashdex Bitcoin ETF was the smallest US spot bitcoin ETF by net assets and lowest by cumulative net inflows. WisdomTree’s BTCW, the next smallest, stood at $142.4 million in net assets. CoinDesk also reported that US spot bitcoin ETFs as a group saw net outflows in each of the three months to early August, per SoSoValue data. DEFI’s history: launched in 2022 as a bitcoin futures ETF, converted to spot in March 2024, after the main January launch wave. While CoinDesk described DEFI as the first US spot bitcoin ETF to close, other outlets hedged with “one of the first.” Bloomberg Intelligence’s James Seyffart warned as far back as January 2026 that a wave of filings could lead to closures by late 2026 or 2027. For more on the market context, see recent US spot bitcoin ETF flow swings and CoinDesk's report on the closure.

What DEFI shareholders can verify for themselves

DEFI holders can review the fund’s Form 8-K, the press release (Exhibit 99.1), the Plan of Liquidation, and the 424B3 supplement directly on EDGAR. Mechanically, two neutral outcomes are available: sell DEFI through a broker before August 17 (with standard brokerage fees), or hold and receive the cash liquidating distribution at the NAV on the Liquidation Date. Any bitcoin price moves after August 17 but before liquidation will be reflected in the cash payout and are outside a holder’s control—this is a risk noted in the official filings, not a prediction. Tax treatment of a liquidating distribution depends on your account and circumstances; it’s a good idea to consult a qualified tax adviser for your situation.

What is still unknown and what to watch next

As of now, it is unresolved whether August 24 or August 28 will be the actual payment date, and whether Hashdex will file a further supplement to clarify. The fund’s current bitcoin holdings are also not confirmed in filings; secondary reports place it at roughly 225 BTC, but the last official quarterly filing (Q3 2025) listed 134.87 BTC. AUM is quoted at $14.7 million as of July 30, but some outlets have published lower figures—likely due to different dates or definitions. Key dates: August 17 is the last trading day and creation cutoff, August 18 begins portfolio liquidation, then the Form 25 delisting clock (10 days from filing), and the payout window of August 24–28. For a timeline of how the closure surfaced, see the August 4 crypto news roundup.