21Shares to Liquidate Bitcoin ETFs Amid Market Downturn: Last Trading Day on March 27th

21Shares, a prominent player in cryptocurrency asset management, has announced the impending liquidation of two of its actively managed exchange-traded funds (ETFs) that are linked to Bitcoin and Ethereum futures. These funds—ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY)—are set to see their operations cease amidst a challenging market environment. Investors hold the option to trade their shares until the market closes on March 27th, with the formal liquidation anticipated to occur on or around March 28th. This strategic decision follows a staggering outflow of $1.66 billion from U.S.-listed spot Bitcoin ETFs earlier this month, underscoring the significant shifts in market dynamics that impact fund performance.