Crypto Chaos: 21Shares Decides to Pull the Plug on ETFs! 🚀💔

by

What to know:

  • 21Shares has decided to liquidate two ETFs, because why not? 🤷‍♂️
  • The grand finale is set for March 28, with trading available until March 27. Get your popcorn! 🍿
  • This decision comes after a staggering $1.66 billion decided to take a vacation from U.S.-listed spot bitcoin ETFs this month. 🏖️

In a plot twist that even the most seasoned crypto wizards didn’t see coming, 21Shares is preparing to liquidate two of its actively managed exchange-traded funds (ETFs) linked to the mystical realms of bitcoin and ether futures. It seems the market has decided to take a nosedive, and these funds are just along for the ride. 🎢

The unfortunate ETFs facing the chopping block are the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY). Investors can trade shares until the market closes on March 27, after which they might want to consider a career in knitting or stamp collecting. 🧶📬

These actively managed ETFs, with their expense ratios of 1% and 0.93% respectively, are being liquidated as U.S.-listed spot bitcoin ETFs have seen over $1.66 billion in outflows this month. It’s like watching a parade of money leaving the building! 💸 The cryptocurrency market is in a bit of a pickle, with bitcoin down more than 12.8% year-to-date, while the broader CoinDesk 20 Index (CD20) has lost around 24% of its value. Talk about a rough day at the office! 🏢💔

Read More

2025-03-15 21:23