21Shares to close cryptocurrency ETPs on reduced investor demand

Crypto exchange-traded products (ETP) issuer 21Shares is closing down five funds and delisting another citing fading investor demand for the products.
The Switzerland-based issuer will be closing five products: the 21Shares S&P Risk Controlled Bitcoin Index ETP (SPBTC), the 21Shares S&P Risk Controlled Ethereum Index ETP (SPETH), the 21Shares DeFi 10 Infrastructure ETP (DEFII), the 21Shares Crypto Layer 1 ETP (LAY1) and the 21Shares USD Yield ETP (USDY).
They will be delisted 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 the Deutsche Boerse effective June 12.
The six funds have total assets of less than $700,000.
21Shares CEO Hany Rashwan told ETF Stream: “We are constantly monitoring investor interest and demand and we look to offer products that meet client needs. Sometimes, when the demand is lower, we make the decision to close some of our ETPs.”
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