Crypto Asset Manager 21Shares is set to liquidate two actively managed stock -traded funds (ETFs) tied to Bitcoin and Ether Futures in the midst of a wider market run.
The funds intended for liquidation are ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and ARK 21Shares Active Bitcoin Ethereum Strategy ETF (Arky). Investors can trade with shares until the market closes on March 27, with liquidation expected to take place “March 28 or around March 28”, according to a press release.
The actively managed ETFs, which have a cost ratio of 1% and 0.93% respectively, are set to be liquidated as the US -listed spot Bitcoin ETFs saw over $ 1.66 billion in outflow so far this month. The outflow comes when cryptocurrency prices are jumping. Bitcoin is more than 12.8% years to date, while the wider Coindesk 20 index (CD20) has lost about 24% of its value in the same period.
Shareholders who stick to their shares until the liquidation date will receive payments equal to their part of the fund’s net asset value, the document adds.
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