21Shares plans to liquidate the Bitcoin spot ETF ARKC and the Ethereum futures ETF ARKY, expected to take place at the end of this month

ChainCatcher news, according to Coindesk, cryptocurrency asset management company 21Shares plans to liquidate two actively managed exchange-traded funds linked to Bitcoin and Ethereum futures amid a general market downturn: ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY). Investors can trade shares before the market closes on March 27, with liquidation expected to occur around March 28.

It is reported that this decision was made after $1.66 billion flowed out of the U.S.-listed spot Bitcoin ETFs this month.