21Shares Plans to Close Two Bitcoin and Ether Futures ETFs Amid Market Weakness.

21Shares to Close Two Bitcoin and Ethereum Futures ETFs Amid Crypto Slump

Crypto investment firm 21Shares is set to liquidate two of its actively managed exchange-traded funds (ETFs) tied to Bitcoin and Ethereum futures, citing ongoing market challenges.

The ETFs affected—ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY)—will no longer be available for trading after March 27, with liquidation scheduled on or around March 28, according to an official statement.

These funds, which carry expense ratios of 1% and 0.93%, are being shuttered as U.S.-listed spot Bitcoin ETFs face significant $1.66 billion in outflows this month. The broader crypto market has also taken a hit, with Bitcoin down 12.8% year-to-date and the CoinDesk 20 Index (CD20) plunging by 24% over the same period.

Investors who hold onto their shares until liquidation will receive a payout based on their proportion of the fund’s net asset value, 21Shares confirmed.

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