Friday, July 31, was the final trading day for six Bitwise option-income ETFs. Shareholders still holding shares as of Aug. 3 face automatic cash redemption rather than an exchange sale.
The Bitwise Funds Trust board voted June 30 to liquidate ICOI, IMRA, IMST, IGME, ICRC, and IETH, according to an SEC prospectus supplement.
The products use option-income strategies tied to Coinbase, Marathon Digital, Strategy, GameStop, Circle, and Ethereum. The funds were set to stop accepting creation and redemption orders after the July 31 close.
Bitwise’s corrected timetable puts the final net asset value calculation on Aug. 7 and expects proceeds to reach investors through brokers or other financial intermediaries on or around Aug. 10.
