21Shares to Liquidate Bitcoin and Ethereum Futures ETFs

According to an announcement, crypto ETF issuer 21Shares has disclosed plans to ditch its Bitcoin and Ethereum futures ETFs.

21Shares is shutting down its Bitcoin and Ethereum futures exchange-traded funds (ETFs) as the ETF issuer is planning to liquidate both ETFs on March 28 amid a wave of new filings in the US.

21Shares Set To Liquidate Bitcoin and Ethereum ETFs

According to a statement by the firm, 21Shares is planning to shut down its two futures ETFs tracking the price movements of Bitcoin and Ethereum. The affected ETFs are the ARK 21Shares Active Bitcoin Ethereum Strategy ETF and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF.

While the press release did not disclose the reason for the liquidation, it said that the firm periodically assesses its offerings and adjusts them accordingly. The statement added that the move is part of an initiative to align its existing product lineup with evolving market dynamics and better serve the evolving needs of its clients.

However, several pundits say that the liquidations are a result of jarring ETF outflows in recent months.

Shareholders will be able to sell their holdings until March 27, which is touted as the last trading day for both ETFs.

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