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Terra network halt leaves LUNA-based ETPs unable to trade

VanEck, Valour and 21Shares have been forced to halt their LUNA-based exchange-traded products (ETPs) as the Terra Network remains halted.  All three products trade in the European markets, offering exposure to the Terra network. Those products have crashed with the de-pegging of LUNA, as their shares are tied to the underlying asset price.  Issuer VanEck announced today that it would suspend creations and redemptions for its VanEck Terra ETN given the halts in the Terra Network. Terra halted its blockchain …

New 21Shares VP of Product is the latest defector from big tech

Crypto exchange-traded product (ETP) provider 21Shares has snatched former Uber executive Karan Chawla from the ride-hailing and delivery app and named him its new vice president of product. Chawla, who was head of payments for the US, Canada and APAC at Uber for the last seven years, will “lead development of 21Shares’ product organization and roadmap to provide investors with access to the world’s most innovative DeFi protocols,” the company said in a statement on Monday.  Speaking with The Block, …

SEC shoots down Ark 21Shares in latest spot bitcoin ETF rejection

The ARK Investments and 21Shares collaborative spot bitcoin exchange-traded fund (ETF) has reached the end of the line with a rejection order from the Securities and Exchange Commission (SEC). The firms proposed the ARK 21Shares Bitcoin ETF, a joint submission that set 21Shares as the sponsor of the trust and ARK as the lead in marketing the shares. The firms first filed in June of 2021. Cboe BZX Exchange subsequently filed a rule change to list the product, putting the …