Switzerland-based 21Shares, a provider of crypto exchange-traded products (ETP), is shuttering six of its products due to low demand, a company spokesperson confirmed to CoinDesk in an email. However, the firm recently experienced its second-highest January since its 2018 founding in terms of net new assets.

The products on the chopping block include the 21Shares Crypto Layer 1 ETP (LAY1), the 21Shares DeFi 10 Infrastructure ETP (DEFII), 21Shares S&P Risk Controlled Bitcoin Index ETP (SPBTC), the 21Shares S&P Risk Controlled Ethereum Index ETP (SPETH) and the 21Shares USD Yield ETP (USDY), which will all close after the April 6 trading day. The sixth product – 21Shares Terra Classic ETP (LUNA) – will keep trading until June 12. The six closures have less than $700,000 in assets under management combined.

“It is a routine/standard practice in the ETP industry,” said the spokesperson. “While these ETPs saw relatively low demand, we're seeing continuous strong demand in our other products. In fact, we closed out our second-strongest January in company history this year.”

21Shares added $26.95 million in net new assets in January compared to the $26.73 million during the same period last year, according to the firm. The record was held by January 2021 with nearly $44 million in assets. The firm’s 21Shares Ethereum ETP (AETH) and 21Shares Bitcoin ETP both surpassed $200 million in assets under management, becoming the second and third products to cross that mark. 21Shares will also continue to offer its first fund, 21Shares Crypto Basket Index ETP (HODL).

The ETP closures were previously reported by Bloomberg.

Read more: Crypto Investment-Product Firm 21Shares' Parent Raises $25M, Pushing Valuation to $2B

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