21Shares to close cryptocurrency ETPs on reduced investor demand

21Shares to close cryptocurrency ETPs on reduced investor demand

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Issuer of exchange-traded crypto products (ETPs) 21 shares is closing five funds and delisting another citing declining investor demand for the products.

The Swiss-based issuer will close five products: the 21 shares S&P Risk Controlled Bitcoin Index ETP (SPBTC), 21Shares S&P Risk Controlled Ethereum Index ETP (SPETH), 21Shares DeFi 10 Infrastructure ETP (DEFII), 21Shares Crypto Layer 1 ETP (LAY1), and 21Shares USD Yield ETP (USDY).

They will be removed from the Six Swiss Exchange and Deutsche Boerse from April 6.

The company is also set to delist its Terra Classic ETP (LUNA) from the Six Swiss Exchange and Deutsche Boerse effective June 12.

All six funds have total assets of less than $700,000.

21Shares CEO Hany Rashwan said ETF Current: “We are constantly monitoring investor interest and demand and seek to offer products that meet customer needs. Sometimes when the demand is lower, we make the decision to close some of our ETPs.”

Contact the author at emily.jarvie@proactiveinvestors.com

Follow her on Twitter @emilyjjarvie

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