Five 21Shares Funds Bite The Dust Due To Investor Exodus, But What Other Fund Is Doing Well?

Murtuza Merchant

16 Mar 2023 11:35 PM

Cryptocurrency asset management firm 21Shares shut down five exchange-traded products (ETPs) and delisted another as investor demand declines....

  • Cryptocurrency asset management firm 21Shares is shutting down five exchange-traded products (ETPs) and delisting another due to declining investor demand.
  • The move comes as digital tokens struggle amid the Federal Reserve's efforts to control inflation and as the cryptocurrency space faces multiple scandals, including the implosion of exchange FTX.
  • The five ETPs to be closed are the 21Shares S&P Bitcoin Risk Control ETP (SPBTC-USD), the 21Shares S&P Ether Risk Control ETP (SPETH-USD), the 21Shares DeFi 10 Infrastructure ETP (DEFII), the 21Shares Crypto Layer 1 ETP (LAY1) and 21Shares USD Yield ETP (USDY).
  • The last trading day for these ETPs is April 6, while the 21Shares Terra Classic ETP (LUNA-USD) will be delisted effective June 12.
  • The firm's total assets for the six funds are under $700,000.
  • 21Shares' first fund, 21Shares Crypto Basket Index ETP (HODL), which was launched during the crypto slump of 2018, will continue trading and has assets of approximately $100 million.

The article has a negative sentiment as it reports on the decline of investor demand for cryptocurrency exchange-traded products and the shutting down of five ETPs by 21Shares.

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Related Questions

Why is 21Shares shutting down five exchange-traded products?
When is the last trading day for the five ETPs to be closed?
What is the total assets of 21Shares' six funds?
Which of 21Shares' funds will continue trading?
What is the sentiment of the article towards the cryptocurrency space?

Related Queries

Asset management
Exchange-traded products
Investor demand
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