21Shares to Liquidate Two Crypto ETFs

Amidst a market downturn, asset manager 21Shares is liquidating two ETFs linked to Bitcoin and Ethereum futures.

The funds in question are the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY). Trading will continue until the market closes on March 27, with liquidation tentatively scheduled for March 28.

The firm made the decision “based on a regular review of the product lineup to ensure its alignment with market dynamics, client needs, and the evolving digital asset landscape.”

The liquidation announcement followed a prolonged period of outflows from cryptocurrency ETFs.

Earlier, the U.S. Securities and Exchange Commission extended the review period for several applications to launch spot ETFs based on XRP, Solana, Litecoin, and Dogecoin.