- 21Shares to liquidate ARKY and ARKC ETFs after strategy shift, effective March 28.
- ARKY and ARKC ETFs saw negative YTD returns, with ARKY at -25.15% and ARKC at -16.05%.
- Bitcoin price rises to $84,008, while Ethereum sees a 0.92% increase, despite volume drops.
21Shares is shutting down two of its cryptocurrency ETFs: the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY) and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC).
This decision follows a routine product review and market assessment, suggesting a shift in the company’s strategy. Shareholders must sell their holdings by March 27, 2025, and the liquidation process will begin on March 28.
Why Are These ETFs Closing?
Both ETFs, which trade on the Cboe BZX, are being closed because of a shift in 21Shares’s product strategy.
ARKY, which invests in both Bitcoin and Ethereum futures contracts, aims to outperform these two assets over the market cycle. However, its year-to-date return has been negative at -25.15%. Meanwhile, ARKC, which focuses on future Bitcoin contracts and cash equivalents, has also seen ne…
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