Bye Bye Terra ETP! 21Shares Delists Cryptocurrency Plus 5 Other Crypto ETPs
It seems that not all cryptocurrency ETPs have been able to survive the bear market of 2018. 21Shares, a crypto asset exchange which listed the world’s first registered crypto ETP has made the tough decision to delist their own Terra ETP (AOA) along with 5 other crypto ETPs.
What Caused The Low Investor Demand?
It seems that investor demand just wasn’t enough to sustain the crypto ETPs on 21Shares. There are numerous factors that likely contributed to the low investor demand, but it’s possible that the complex onboarding process discouraged potential investors, or that the regulations that had to be satisfied lower investor confidence.
The Big Goodbye: 6 ETP’s Delisted
21Shares has officially delisted the Terra ETP (AOA) and terminated 5 other crypto ETPs after failing to meet their minimum listing requirements:
- HODL ETP (HODL)
- Bitcoin Cash ETP (ABC)
- XRP ETP (XRPX)
- Smart Contract Token ETP (SMART)
- Bitcoin Tracker ETP (BTC)
They plan to continue offering the remaining crypto ETPs, including those of Ethereum and Litecoin.
A Bittersweet Goodbye
It’s always sad to see a crypto ETP have to be delisted, but hopefully 21Shares will continue to find success with their remaining crypto ETPs.
As 21Shares said in their official statement regarding the delisting: “It’s never fun to say goodbye, but sometimes you just have to let go and move on”. Truer words have never been said!
At least we can all look back and say, “Au revoir Terra, we hardly knew ye!”
And with that, another crypto ETP bites the dust in the crypto bear market. Best of luck in the future, 21Shares!
