Crypto Asset Manager 21Shares is set up to settle two aggressively controlled exchange trading funds (ETFs) related to Bitcoin and ether futures amid a wider market slump.
The funds scheduled for liquidation are the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and the Ark 21Shares Active Bitcoin Ethereum Strategy ETF (Arky). According to a press release, investors will be able to trade stocks until the market closes on March 27th, and the liquidation is expected to take place “about March 28th.”
Actively managed ETFs with cost ratios of 1% and 0.93% respectively are set to be liquidated as US registered Spot Bitcoin ETFs saw more than $1.666 billion this month. Leaks will cause cryptocurrency prices to plummet. Bitcoin has fallen by more than 12.8% since the start of the year, but the broader Coindesk 20 index (CD20) lost about 24% of its value in the same period.
The document adds that shareholders holding shares until the liquidation date will receive payments equal to a portion of the fund's net asset value.
Read more: Bitcoin price drops to 80k: Crypto Market Analysis, ETF, Trump's impact
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