ETF Evaluator:
Hashdex Bitcoin ETF (DEFI)
Follow This ETF
(as of Jul 30)
Best Performing in Digital Assets Over the Last Year
| 899.4% | Grayscale Zcash Trust (ZEC) () |
| 108.9% | ProShares UltraShort Bitcoin ETF (SBIT) |
| 14.8% | Simplify US Equity PLUS Bitcoin Stgy ETF (SPBC) |
| 6.7% | ProShares Short Ether ETF (SETH) |
| 5.6% | Nicholas Crypto Income ETF (BLOX) |
Risk
Index
Risk
Index
ETF Details
Hashdex Bitcoin ETF Overview
Hashdex Bitcoin ETF (DEFI) is an actively managed Miscellaneous Digital Assets exchange-traded fund (ETF). Hashdex Asset Management Ltd. launched the ETF in 2022.
The investment seeks changes in the Shares’ NAV to reflect the daily changes of the price of the Hashdex U.S. Bitcoin Futures, less expenses from the fund’s operations.
The fund seeks to achieve its investment objective by investing in Benchmark Component Futures Contracts. Under normal market conditions, the Advisor expects that the fund’s assets will be invested in Benchmark Component Futures Contracts and in cash and cash equivalents, such as short-term Treasury bills, money market funds, and demand deposit accounts.
About Hashdex Bitcoin ETF (DEFI)
There are 1 members of the management team with an average tenure of 3.79 years: Management Team (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Hashdex U.S. Bitcoin Futures TR USD index with a weighting of 100%. Hashdex Bitcoin ETF has 3 securities in its portfolio. The top 10 holdings constitute 99.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Hashdex Bitcoin ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Hashdex Bitcoin ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Hashdex Bitcoin ETF has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $522 million average for the Digital Assets category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DEFI Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Hashdex Bitcoin ETF expense ratio is below average compared to funds in the Digital Assets category. Hashdex Bitcoin ETF has an expense ratio of 0.25%, which is 75% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Hashdex Bitcoin ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 85% for the Digital Assets category.
Recently, in the month of June 2026, Hashdex Bitcoin ETF returned -20.1%, which earned it a grade of C, as the Digital Assets category had an average return of -18.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Hashdex Bitcoin ETF has a trailing yield of 0.00%, which is below the 17.02% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Hashdex Bitcoin ETF Grades
Year to date, the ETF has returned -32.9%, 0.5 percentage points worse than the category, which translates into a grade of B. The fund has returned -45.4% over the past year (grade of C) and 19.7% over the past three years (grade of B).
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DEFI Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DEFI Return (NAV) | -20.1% | -13.4% | -45.4% | 19.7% | na | na |
| DEFI Return (Price) | -12.8% | -3.7% | -40.1% | 23.2% | na | na |
| NAV +/- Price Return | -7.229% | -9.722% | -5.353% | -3.466% | na | na |
| Digital Assets Avg | -18.3% | -15.1% | -30.3% | 3.0% | -19.1% | 53.7% |
| DEFI Grade (NAV) | C | B | C | B | na | na |
| +/- Category (NAV) | -1.7% | 1.7% | -15.1% | 16.7% | na | na |
| DEFI Tax-Cost Ratio | na | na | 0.0% | 0.0% | na | na |
DEFI Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DEFI Return (NAV) | -32.9% | -6.5% | 108.9% | 137.1% | na | na | na | na | na | na | na |
| DEFI Return (Price) | -26.6% | -6.9% | 109.4% | 137.2% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.192% | 0.063% | 0.004% | 0.001% | na | na | na | na | na | na | na |
| Digital Assets Avg | -32.4% | -11.3% | 63.4% | 159.0% | -73.9% | 199.4% | 175.1% | 11.8% | -81.4% | 1391.4% | 119.9% |
| DEFI Grade (NAV) | B | A | A | B | na | na | na | na | na | na | na |
| +/- Category | -0.5% | 4.8% | 45.5% | -21.9% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | 51.1% |
| Category Risk Index: | 0.57 |
| Category Risk Rating: | Low |
| Total Risk Index: | 4.21 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 12 Mil |
| Share Class Assets: | $ 12 Mil |
| Turnover: | na |
| Expense Ratio: | 0.25% |
| Index Fund: | No |
| Index Tracked: | Hashdex U.S. Bitcoin Futures TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 3.8 years | |||
| Average Tenure: 3.8 years | |||
| Managers (Year): Team Management (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 3 |
| % in Top 10 Holdings: | 99.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 99.7% |
| Cash: | 0.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Hashdex Asset Management Ltd. |
| Phone Number: | 802-540-0019 |
| Website: | www.teucriumcornfund.com |
| Inception Date: | September 15, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.25% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 1.00% |
