21Shares announced that after a routine review, two of the exchange trade funds would be liquidated.
21Shares has announced plans to settle two exchange trade funds that will invest in futures from Bitcoin (BTC) and Ethereum (ETH). Specifically, we will settle the ARK 21Shares Active Bitcoin Ethereum Strategy ETF and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF. The last day to buy and sell these ETF shares is March 27th. Both will be officially settled on March 28th. Shareholders who do not sell until the date will receive cash based on the value of the shares when the fund closes.
The reason for closing these funds is that they no longer fit the 21 share strategy given the current market and customer needs. Despite shutting down these two funds, 21Share and ARK Invest are still committed to offering crypto investment products in the US.
Ark 21Shares Active Bitcoin Ethereum Strategy ETF (Arky) invests in both Bitcoin and Ethereum futures contracts. The purpose of the fund is to outweigh holding both assets over the market cycle. The return that year was negative at -25.15%.
Active in the Chain Bitcoin Strategy ETF (ARKC), ARK 21Shares aims to outperform Bitcoin by leveraging standard financial analytics and on-chain valuation models. The return for the year is even negative, even at -16.05%.
