In a turn of events that would make even the most stoic of Muscovites chuckle, 21Shares has decreed the demise of two of its children, those noble exchange-traded funds that danced with the digital devils Bitcoin and Ethereum. A routine review, they say, as casual as a stroll through the winter fields of Yasnaya Polyana.
Yes, the ARK 21Shares Active Bitcoin Ethereum Strategy ETF and its sibling, the ARK 21Shares Active On-Chain Bitcoin Strategy ETF, shall be no more, like two characters from a Tolstoyan novel, fading into the mist of history. Their last dance upon the stage of Cboe BZX is set for the 27th day of March. On the morrow, they shall be no more, and those who cling to their shares shall be compensated in cold, hard cash—fitting, for funds that once courted the ethereal.
It seems these funds, like the Russian winter, have become inhospitable. No longer do they suit the grand strategy of 21Shares, for the times, they are a-changin’. Yet, like the resilient Russian spirit, 21Shares and ARK Invest march on, undeterred in their quest to peddle crypto wares to the masses.
The ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY), a fund that sought to outsmart the market by holding both Bitcoin and Ethereum futures, has proven less successful than a Bolshevik revolution, posting a year-to-date return that would make even the most dour of Russian peasants laugh: a resounding -25.15%.
And the ARK 21Shares Active On Chain Bitcoin Strategy ETF (ARKC), with its grand plans to outperform Bitcoin through the most sophisticated of financial alchemy, has fared little better, returning a year-to-date figure that would make even the Tsar weep: a mere -16.05%.
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2025-03-14 15:56