Six closures have assets under management (AUM) of less than $700,000.
21Shares has announced that it will cease offering six of its crypto exchange-traded products with immediate effect. According to a company spokesperson, the decision was taken after the firm realized that the demand for these particular products was low. Five of the six products to be pulled will cease trading on the 6th trading day of April. These include the 21Shares S&P Risk Controlled Ethereum Index ETP (SPETH), 21Shares Crypto Layer 1 ETP (LAY1), 21Shares DeFi 10 Infrastructure ETP (DEFII), 21Shares S&P Risk Controlled Bitcoin Index ETP (SPBTC), and finally, the 21Shares S&P Risk Controlled Bitcoin Index ETP (SPBTC). USD Yield ETP (USDY). Whereas, the last product – 21Shares Terra Classic ETP (LUNA) – will continue to trade till June 12.
ETP provider highlights 21Shares decision, calls it routine
Meanwhile, the firm insists that its decision to drop some of its products is not really a big deal. According to the spokesperson, such decisions are quite common in the ETP industry. What’s more, the demand for the product under consideration is also seen to be very low as compared to the obtainable with other products.
To put the above statement into perspective, all six closers have combined assets under management (AUM) of less than $700,000.
Additionally, the spokesperson also pointed to the fact that other products are currently in good standing. Hence, the company will focus on these other products for the time being. The spokesperson wrote an email in part:
“While these ETPs saw relatively low demand, we continue to see strong demand in our other products.”
According to the spokesperson, 21Shares had a record-breaking January in terms of net new assets earlier this year. What it saw this year, however, represents only the second-strongest January in the company’s history. i.e. since the inception of the firm in 2018.
In January, 21Shares added $26.95 million in net new assets, marking an increase from the $26.73 million posted during the same period last year. But, overall, January 2021 still holds the company’s record with nearly $44 million in assets.
In the meantime, it may also be worth noting that the claims that its other products are doing well are justified. Its Ethereum ETP (AETH) and 21Shares Bitcoin ETP Both have crossed $200 million in assets under management, becoming only the second and third products to cross that mark.
The news of closure of 21Shares ETP came first informed of by Bloomberg.

Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his writing style. He firmly believes in the potential of digital assets and takes every opportunity to reiterate this. He is also an avid reader, a researcher, an astute speaker and a budding entrepreneur. Although away from crypto, Mayowa’s distractions include discussing soccer or world politics.
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