Odaily Planet Daily News Reverse bet on US-based CNBC "Mad Money" host Jim Cramer trading suggested ETF closed after just 10 months of trading. Cramer has mixed attitudes about Crypto Assets, having previously claimed that Crypto Assets "have no real value" but later admitted that he was wrong and revealed that he "made a lot of money" from Bitcoin, even though he had urged investors to sell Bitcoin a few days earlier.
On January 25, the fund's manager, Tuttle Capital Management, announced that its Inverse Cramer ETF (SJIM), which was launched in early March 2023, will be closed and liquidated on the last trading day of February 13. It is reported that the fund ended up attracting only $2.4 million in funding, with a return of -15% since its inception.
Tuttle Capital claims that the company "does not have time to continue operating this portfolio" due to other, more successful ETFs. It also said it expects SJIM to cease operations on February 23, liquidate its assets and distribute them to shareholders, who will receive cash equivalent to the net asset value of their fund shares.
In addition, the company has applied for 6 ETFs that leverage Bitcoin, which are 1.5x, 1.75x, and 2x long-short ETFs. (Cointelegraph)