Primecoin

Bloomberg reports that the 21Shares S&amp;P Risk Controlled Ethereum Index ETP (ticker SPETH), the 21Shares S&amp;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 will be closed (LAY1).From April 6, traders will no longer have access. On June 12, it will also delist the 21Shares Terra Classic ETP (LUNA). The main reason for the transfer is the low interest rate, as they have less than $700,000 in total assets.Pennington stated that demand for other ETPs remains high, and that January saw considerable inflows. Assets under management for the 21Shares Bitcoin ETP (ABTC) and the 21Shares Ethereum ETP (AETH) topped $200 million during that month.The Fed&#39;s approach of raising interest rates has had a detrimental impact on some products, such as ETPs, and may have contributed to the cryptocurrency market&#39;s decline last year. Additional factors include the industry&#39;s numerous scandals and failures, with FTX, Terra, and Celsius among the most well-known instances.Yet, the market has significantly improved since the beginning of the year. During the American banking crisis, Bitcoin and numerous altcoins reached multi-month highs.Furthermore, the industry might benefit if the Fed ends its relentless rate hikes, providing a breath of fresh air to risk-off markets. The central bank is expected to raise interest rates by 25 basis points next week, however some predict they will not touch the percentage after raising it for eight straight months.Aside from ETPs, 21Shares announced intentions to launch a spot Bitcoin ETF on the Cboe BZX Exchange in collaboration with Ark Investment Management. Nonetheless, the US Securities and Exchange Commission denied the application about two months ago, as it did in the spring of 2022.It argued that the Cboe BZX Exchange had failed to &#34;show that its plan is consistent with the standards&#34; for preventing price manipulation and frauds. Previously, the SEC rejected similar efforts sponsored by VanEck, NYDIG, Grayscale, and other groups.

21Shares Halts Several Crypto Products Citing Decreased Interest (Report)

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