21Shares, a provider of crypto exchange-traded products (ETP), is closing six of its products due to low demand.
The Switzerland-based firm, however, recently experienced its second-highest January since its 2018 founding in terms of net new assets.
The products 21Shares is shuttering include the 21Shares Crypto Layer 1 ETP (LAY1), the 21Shares DeFi 10 Infrastructure ETP (DEFII), 21Shares S&P Risk Controlled Bitcoin Index ETP (SPBTC), the 21Shares S&P Risk Controlled Ethereum Index ETP (SPETH), the 21Shares USD Yield ETP (USDY), and 21Shares Terra Classic ETP (LUNA).
The six closed products have less than $700,000 in assets under management combined.
The firm’s 21Shares Ethereum ETP (AETH) and 21Shares Bitcoin ETP both surpassed $200 million in assets under management, becoming the second and third products to cross that mark.
21Shares will continue to offer its first fund, 21Shares Crypto Basket Index ETP (HODL).
