The Switzerland-based crypto ETP issuer – 21Shares – will reportedly terminate five of its funds and delist another one due to low interest from investors. 

Arielle Pennington – Head of Global Communications – claimed the firm will keep offering its other products that enjoy a solid level of demand.

Scraping Some ETPs

As revealed by Bloomberg, the company will close down the following five funds: the 21Shares S&P Risk Controlled Ethereum Index ETP (ticker SPETH), the 21Shares S&P Risk Controlled Bitcoin Index ETP (ticker SPBTC), the 21Shares DeFi 10 Infrastructure ETP (DEFII), the 21Shares USD Yield ETP (USDY), and the 21Shares Crypto Layer 1 ETP (LAY1).

Traders will no longer have access from April 6. It will also delist the 21Shares Terra Classic ETP (LUNA) on June 12. 

The main reason behind the move is the low interest, as they have total assets of less than $700,000.

Pennington outlined that the demand for the other ETPs remains strong, adding that January saw a significant amount of inflows. During that month, assets under management for the 21Shares Bitcoin ETP (ABTC) and the 21Shares Ethereum ETP (AETH) surpassed $200 million.

The Fed’s policy of lifting interest rates has negatively affected some products, such as ETPs, and could be one reason behind the slide of the cryptocurrency market last year. Other factors include the countless scandals and collapses in the industry, with FTX,