21Shares to Liquidate Two Bitcoin and Ether Futures ETFs on March 28
21Shares will liquidate two actively managed ETFs related to bitcoin and ether futures due to a market downturn. The affected funds are:
- ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC)
- ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY)
Trading for these shares will continue until market close on March 27, with liquidation expected around March 28. The ETFs have expense ratios of 1% and 0.93%. This decision follows over $1.66 billion in outflows from U.S.-listed spot bitcoin ETFs this month as cryptocurrency prices decline. Bitcoin has decreased by over 12.8% year-to-date, while the CoinDesk 20 Index has lost about 24% during the same timeframe.
Shareholders retaining their shares until the liquidation date will receive payouts based on their share of the fund's net asset value.