Viridi Funds introduced that the Viridi Cleaner Power Crypto-Mining & Semiconductor ETF (NYSEARCA:RIGZ) will liquidate and de-list from the New York Inventory Trade.
RIGZ, which jumped out of the gates with a 15% rally in its first 48 hours of buying and selling, caught a wave of upward momentum from the crypto craze. The fund soared 133% in its first 4 months of buying and selling, alongside Bitcoin’s peak.
Nonetheless, for the reason that fund topped out at $56.63 a share on Nov. 9, 2021, it has plummeted to $4.07 a share. This equates to a 92.8% plunge.
RIGZ, with its 0.90% expense ratio, has been slowed down in 2022 amid the overall crypto collapse. A few of its high holdings embody Riot Blockchain (NASDAQ:RIOT), CleanSpark (CLSK), Bitfarms (BITF), and Hut 8 Mining Corp. (HUT), which have all cratered in 2022. Yr-to-date and RIOT is -82.6%, CLSK -79.6%, BITF -90.7% and HUT -88.2%.
RIGZ will stop buying and selling and will likely be closed to buy extra shares by buyers as of the shut on Jan. 4, 2023.
Relating to its liquidation, Viridi Funds famous in a press launch: “The fund will liquidate its belongings and distribute money professional rata to all shareholders of report who haven’t beforehand redeemed or bought their shares, topic to any required withholding.”
See additional particulars in regards to the liquidation and de-listing of RIGZ.