Cryptocurrency asset management firm 21 shares Closure of five Exchange Traded Products (ETPs) and delisting of another as Investor demand is falling.

The move comes as digital tokens struggle amid Federal Reserve efforts to control inflation and the cryptocurrency space faces multiple scandals, including the implosion of the exchange FTX.

The five ETPs to close are the 21Shares S&P Bitcoin Risk Control ETP (SPBTC-USD), the 21Shares S&P Ether Risk Control ETP (SPETH-USD), the 21Equity DeFi 10 Infrastructure ETP (DEFII), the 21Shares Crypto Layer 1 ETP (LAY1) and 21Shares USD Yield ETP (USDY), Bloomberg reported.

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The last trading day for these ETPs is April 6th, during which 21Shares Terra Classic ETP (LUNA-USD) will be delisted effective June 12.

The company’s total assets for the six funds is less than $700,000.

According to ETF Stream, the previous boom in exchange-traded products in virtual currencies was waning even before FTX’s implosion as launches fell and liquidations increased.

Some analysts are predicting more closures in 2023.

On the other hand, the first fund of 21Shares, 21Shares Crypto Basket Index ETP (HODL), launched during the crypto slump of 2018, is set to continue trading and has around $100 million in assets.

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