CoinShares halts and liquidates its BTF and DIME crypto ETFs
Trading in CoinShares' bitcoin-and-ether futures ETF (BTF) and Altcoins ETF (DIME) stopped before Wednesday's open; remaining holders are paid cash at NAV.
CryptoGroup Newsroom · · 3 min read
CoinShares' two smallest US crypto funds stopped trading before Nasdaq's open on Wednesday, 21 October, as the firm winds them down: the CoinShares Bitcoin and Ether ETF (BTF) and the CoinShares Altcoins ETF (DIME). The board of CoinShares ETF Trust approved the liquidations in September, according to CoinShares' announcement and the fund's SEC prospectus supplement. We flagged the date in our crypto week-ahead calendar.
What it means for holders
- No action needed: shareholders still on the register as of 21 October are automatically redeemed for cash at net asset value, after the funds settle their costs and liabilities. Proceeds were scheduled to go out on or about the same day.
- Taxes: CoinShares says holders generally recognise a capital gain or loss on the redemption.
- No market: with Nasdaq trading halted, the prospectus supplement warns there may be no trading market for the shares.
- Options: the Options Clearing Corporation says BTF options are subject to delayed settlement from 21 October until the cash amount per share is known, then settle in cash, with expirations accelerated.
The two funds
BTF does not hold coins: it is an actively managed fund of CME bitcoin and ether futures, with the rest in cash and short-term securities. DIME is an equal-weighted basket of publicly listed altcoin ETPs. According to ETF.net, BTF had about $16 million in assets and a 1.27% expense ratio, while DIME had about $1.3 million and is closing before its first anniversary. If you are unsure how a futures-based fund differs from a spot one, see crypto ETF vs ETP vs ETN.
How BTF and DIME were wound down
21 Oct 2021
BTF launches
The bitcoin-and-ether futures fund starts trading, per ETF.net.
7 Oct 2025
DIME lists on Nasdaq
The altcoin ETP basket begins trading.
16 Sep 2026
Board approves liquidation
CoinShares ETF Trust's trustees vote to close both funds.
18 Sep 2026
Public announcement
CoinShares announces the plan and files prospectus supplements.
20 Oct 2026
Last trading day
Final day to sell on Nasdaq and last day for creation orders.
21 Oct 2026
Halt and cash-out
Trading halted before the open; remaining shares redeemed at NAV.
What remains
After the closures, ETF.net counts two CoinShares-sponsored US-listed funds: the CoinShares Bitcoin ETF (BRRR), which holds bitcoin and has about $437 million, and the Bitcoin Mining and Digital Power ETF (WGMI), with about $295 million. Small crypto funds that fail to gather assets are often shut down this way; our guide to a bitcoin ETF vs buying bitcoin covers what that risk means for fund investors.
This article is for information only and is not financial advice. Crypto assets are volatile; do your own research. Read our disclaimer
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