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Bitwise Asset Management is set to close and liquidate two of its ETFs, the Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF (NYSE:BTOP) and the Bitwise Web3 ETF (NYSE:BWEB), after the niche strategies failed to garner investor interest.
Both funds will see their last day of trading and final opportunity for creation unit purchases fall on May 21. The funds’ final net asset value (NAV) will be calculated on May 28, with liquidation proceeds expected to be distributed to shareholders around May 29. Investors holding shares beyond the trading deadline will have their positions automatically redeemed for cash based on NAV.
The closures come as …
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