21Shares has decided to shut down two of its crypto exchange-traded funds (ETFs). The move comes after a routine review of its investment strategy.
The ARK 21Shares Active Bitcoin Ethereum Strategy ETF and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF will be liquidated. Both funds invest in Bitcoin (BTC) and Ethereum (ETH) futures. The last day for trading these ETFs is March 27. They will be officially closed on March 28.
Shareholders who don’t sell by the deadline will receive cash based on their shares’ value when the funds close. The decision is due to a shift in market conditions and customer needs. Despite this, 21Shares and ARK Invest remain committed to offering crypto investment products in the US.
The ARK 21Shares Active Bitcoin Ethereum Strategy ETF and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF will be liquidated. These ETFs trade on Cboe BZX. The ARKY ETF invests in both Bitcoin and Ethereum futures.Its year-to-date return is -25.15%. The ARKC ETF invests in Bitcoin futures and cash equivalents. Its year-to-date return is -16.05%. The ARKY ETF aims to outperform holding both assets over a market cycle. The ARKC ETF uses financial analysis and on-chain valuation models to outperform Bitcoin.
These ETFs no longer align with 21Shares’s strategy.The ARKY ETF invests in Bitcoin and Ethereum futures. The ARKC ETF focuses on Bitcoin futures and cash equivalents.
These ETFs have underperformed this year. The ARKY ETF has a negative return of -25.15%. The ARKC ETF has a negative return of -16.05%. The ARKY ETF aims to beat the market. The ARKC ETF uses standard financial models to beat Bitcoin’s performance.
21Shares says the funds no longer fit its strategy.The company will liquidate them. Shareholders will get cash based on their shares’ value when the funds close. The ARKY ETF invests in bitcoin and Ethereum futures. The ARKC ETF invests in Bitcoin futures and cash equivalents.
- ARKY ETF invests in Bitcoin and Ethereum futures.
- ARKC ETF invests in Bitcoin futures and cash equivalents.
21Shares and ARK Invest are still committed to offering crypto investment products in the US. The ARKY ETF invests in Bitcoin and Ethereum futures. The ARKC ETF uses financial models to beat Bitcoin’s performance.
Despite the closures, 21Shares and ARK invest are still committed to crypto investments.They will continue to offer crypto investment products in the US.
