21Shares to Liquidate Two ETFs

21Shares has announced plans to liquidate two of its exchange-traded funds (ETFs) that invest in Bitcoin (BTC) and Ethereum (ETH) futures. The funds being liquidated are:

• ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY)
• ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC)

Both funds are traded on Cboe BZX, with the last day to buy or sell shares being March 27. Official liquidation will occur on March 28. Shareholders who do not sell their shares by the liquidation date will receive cash corresponding to the value of their shares when the funds close.

The decision to liquidate these funds stems from their misalignment with 21Shares’s current strategy and market conditions. Despite this closure, 21Shares and ARK Invest remain committed to providing crypto investment products in the US.

Fund Performance

• ARKY aims to outperform a market cycle by investing in both Bitcoin and Ethereum futures. It has a year-to-date return of -25.15%.
• ARKC focuses solely on Bitcoin futures and cash equivalents, aiming to leverage financial analysis and on-chain models. Its year-to-date return stands at -16.05%.

Additionally, 21Shares is progressing with the filing for a Polkadot ETF as DOT maintains its support level at $4.