According to the press release, bidding with exchange products will continue until the market is closed on March 27. The decision to eliminate the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (Arkc) and Ark 21Shares Active Bitcoin Ethereum Strategy ETF (Arky), previously launched together with Ark Invest, was taken after researching the product line On the subject of its compliance with current market dynamics.
21Shares decided to reduce the product line against the background of negative dynamics in the sector lasting for several weeks. During this period, the outflow of funds from spotes ETF for bitcoin and ether exceeded $ 4.7 billion. In addition, the company runs two sp – Bitcoin (ARKB) and air (CETH), which are also in the “red” zone.
Earlier, the US Securities and Exchange Commission (SEC) warned investors about the risks of investing in exchange funds (ETF) on Bitcoin and ether, calling them speculative products. The regulator urged investors to take into account the volatility of cryptocurrencies and the lack of their regulation.
Source: Bits
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