Valkyrie Funds LLC, an issuer of digital asset ETFs in the US, announced on Tuesday that it will liquidate one of its exchange-traded funds (ETFs) that invests in innovative public companies with exposure to Bitcoin.

The digital asset manager said it would close the Valkyrie Balance Sheet Opportunities FUND (Nasdaq: VBB) at the end of this month and then be delisted from Nasdaq, where it has been listed since December 2021.

Any investor who owns shares of the fund at the time of liquidation will get a cash refund equal to the net asset value (NAV) of their claims, according to a filing with the Securities and Exchange Commission on Tuesday.

Valkyrie called dissolving the fund the best course of action, saying the move was part of an ongoing product review to ensure the company better meets customer demands.

The firm said the action was taken after extensive consultation with the company’s Board of Directors. They determined that discontinuing the fund was the best course of action for everyone involved.

Customers never showed much interest in Valkyrie’s second ETF, where the largest positions are MicroStrategy (MSTR) and Tesla (TSLA), firms known to have Bitcoin on their balance sheets. According to the report, the net assets under management of the fund are only $570,000 as of now.

Investors can trade shares until the end of the trading day on October 28. Valkyrie said he would cover expenses related to the settlement, distribution of cash proceeds and brokerage fees.

Last December, the Valkyrie Balance Sheet Opportunities ETF aimed to invest primarily in companies that invest, transact or have exposure to the Bitcoin asset class on their balance sheets or those that operate within the Bitcoin ecosystem. The fund is the second in a family of Valkyrie ETFs designed to enable investors to participate in the digital asset landscape.

The fund’s discontinuation comes as many investors remain interested in investing in Bitcoin despite the market downturn. According to a recent survey, more than 80% of financial advisors in the US are asked about cryptocurrencies, but many struggle to effectively allocate clients to this asset class. With many US publicly traded companies already holding Bitcoin and more corporations, entities and countries increasingly entering the space, investing in these companies provides the indirect exposure that many people seek.

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