21Shares to Liquidate Bitcoin and Ether Futures ETFs Amid Market Downturn

On March 27, 2024, 21Shares announced the liquidation of two actively managed ETFs, ARKC and ARKY, tied to Bitcoin and Ether futures. Trading will cease by market close on March 27, with liquidation expected around March 28. This decision follows $1.66 billion in outflows from U.S.-listed spot Bitcoin ETFs this month, as Bitcoin is down over 12.8% year-to-date and the CoinDesk 20 Index has lost approximately 24% of its value over the same period. The ETFs had expense ratios of 1% and 0.93%, respectively.