21Shares to close six crypto ETFs

Swiss cryptocurrency trade traded product supplier 21Shares is to close six ETPs owing to restricted investor demand.

The crypto asset supervisor will shut its 21Shares S&P Threat Managed Bitcoin Index, 21Shares S&P Threat Managed Ethereum Index, 21Shares DeFi 10 Infrastructure, 21Shares Crypto Layer 1 and 21Shares USD Yield ETPs.

All 5 ETPs, that are small in measurement, had been launched lower than a yr in the past.

The agency may even delist its 21Shares Terra Basic ETP, which was first listed in January 2022.

In line with 21Shares, the Terra Basic ETP’s delisting will take impact from June 12, whereas the opposite ETPs may have their final buying and selling day on April 6.

All autos are listed in Frankfurt and Zurich.

This text was beforehand printed by Ignites Europe, a title owned by the FT Group.

21Shares stated the product closures, that are “routine” and “commonplace” within the ETP trade, come after “an evaluation of shopper demand for these merchandise”.

The agency careworn, nonetheless, that the six ETPs set for closure account for lower than 0.6 per cent of its whole property underneath administration and that there was “robust demand” for its different merchandise.

21Shares stated inflows in January had been larger than these in the identical month final yr and that its flagship bitcoin and ethereum funds every surpassed $200mn in property underneath administration that month.

The agency added that it now had three ETPs that taken care of greater than $200mn on behalf of buyers.

Late final yr 21Shares additionally terminated its 21Shares FTX Token ETP, which was affected by the collapse of crypto trade FTX.

*Ignites Europe is a information service printed by FT Specialist for professionals working within the asset administration trade. Trials and subscriptions can be found at igniteseurope.com.

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