21Shares Plans to Liquidate Bitcoin ETF ARKC and Ethereum ETF ARKY

Blockbeats
03-16

BlockBeats News, March 16th, Cryptocurrency asset management company 21Shares plans to liquidate two actively managed exchange-traded funds linked to Bitcoin and Ethereum futures amid a widespread market downturn: ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY).

Investors can trade their shares until market close on March 27th, with the liquidation expected to take place around March 28th. The decision was reportedly made following a $1.66 billion outflow from the U.S.-listed spot Bitcoin ETF earlier this month. (Coindesk)

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