Crypto asset manager 21Shares is set to liquidate two actively managed exchange-traded funds (ETFs) tied to bitcoin and ether futures amid a wider market downturn.

The funds slated for liquidation are the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY). Investors can trade shares until the market closes on March 27, with liquidation expected to take place “on or around March 28,” according to a press release.

The actively managed ETFs, which have an expense ratio of 1% and 0.93%, respectively, are set to be liquidated as U.S.-listed spot bitcoin ETFs saw over $1.66 billion in outflows so far this month. The outflows come as cryptocurrency prices plunge. Bitcoin is down more than 12.8% year-to-date, while the broader CoinDesk 20 Index (CD20) has lost around 24% of its value over the same period.

Shareholders who hold onto their shares until the liquidation date will receive payouts equal to their portion of the fund’s net asset value, the document adds.
Read more: Bitcoin Price Drop to $80K: Crypto Market Analysis, ETF & Trump Impact

Leverage Shares by Themes has launched a new exchange-traded fund (ETF) tied to the Nasdaq-listed cryptocurrency exchange Coinbase (COIN) stock despite a downturn in the crypto-related shares.

The Leverage Shares 2X Long Coinbase Daily ETF (COIG) is designed to deliver twice the daily return of Coinbase’s stock price, offering traders an amplified exposure to the U.S.’s largest cryptocurrency exchange. The ETF, which carries an expense ratio of 0.75%, is listed on Nasdaq, according to a press release.

The launch comes amid a significant cryptocurrency market downturn that saw bitcoin (BTC) drop by around 19% over the last three months, from over $105,000 to now stand at wrought $84,000. COIN shares saw even worse performance, losing nearly 42% of their value during the same period.

The new ETF allows investors to take advantage of Coinbase’s stock performance volatility without directly holding shares.

These types of single-stock leveraged ETFs, for both longs and shorts sides, are typically used for short-term trading due to the high levels of risks associated with daily compounding. The profits and losses for both types of these are amplified when the prices of the underlying stocks move significantly.

Read more: Leveraged ETFs Tied to Strategy See Trading Volume Surge as Bitcoin-HODLer MSTR Teeters on 200-Day Average

The price of TON has surged more than 20% over the last 24 hours to now trade above $3.45 and have a $8.14 billion market capitalization after French authorities returned Telegram founder Pavel Durov’s passport.

The move restores Durov’s ability to travel freely and marks the end of a situation that had drawn concerns from privacy and free speech advocates. Durov, who co-founded Telegram, a messaging platform with nearly a billion users, has long been an outspoken advocate for privacy and secure communication.

Read more: TON Down 14% as Telegram CEO Pavel Durov Arrested in France

The TON Foundation, which supports the Telegram Open Network (TON), celebrated the moment on social media. “As part of the decentralized TON community, we have stood in solidarity with Pavel, supporting his unwavering dedication to defending the right to free speech and privacy online.“

TON has also benefited from new features introduced to the Wallet app on Telegram, which include multiple assets, a yield program, an updated user interface, and more.

Read more: Telegram’s Pivot to TON Payments for Ads Boosts Toncoin