21Shares to Shut Down Two Crypto ETFs Amid Market Downturn

Against the backdrop of a market downturn, asset manager 21Shares is set to terminate 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 the liquidation slated for March 28.

The company made this decision as part of a routine review of its product offerings to ensure they align with market trends, client needs, and the evolving landscape of digital assets.

This announcement follows a prolonged period of outflows from cryptocurrency ETFs.

Additionally, the U.S. Securities and Exchange Commission has extended the review timeline for several applications related to the launch of spot ETFs based on XRP, Solana, Litecoin, and Dogecoin.