What to Know:

• 21Shares will be liquidating two actively managed ETFs linked to Bitcoin and Ether futures.
• Liquidation is slated for March 28, with final trading until March 27.
• This decision follows $1.66 billion in outflows from U.S.-listed spot Bitcoin ETFs this month.

Crypto asset manager 21Shares confirms it will liquidate two actively managed Exchange-Traded Funds (ETFs) associated with Bitcoin and Ether futures due to a broader market decline. The liquidation will involve the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY), with trading available until marketplace closing on March 27 and liquidation occurring on or around March 28.

The ETFs, which charge expense ratios of 1% and 0.93%, are facing liquidation in light of recent outflows exceeding $1.66 billion from Bitcoin ETFs this month amidst a drop in cryptocurrency prices. Bitcoin’s year-to-date decrease has exceeded 12.8%, and the broader CoinDesk 20 Index (CD20) has lost approximately 24% of its value over the same period.

Shareholders who retain their shares until the liquidation date will receive payments corresponding to their share of the fund’s net asset value.