Tradr's leveraged SK hynix ETFs SKHA and SKHN will liquidate after three months
Tradr's two 2x SK hynix ETFs, SKHA and SKHN, stop trading Nov. 5 and liquidate around Nov. 12, about three months after launch.
Curtain call, darlings, and it came fast. Tradr's 2X Long SK hynix Daily ETF (SKHA) and 2X Short SK hynix Daily ETF (SKHN) will trade for the last time on Nov. 5 on the Cboe BZX Exchange, about three months after launch. The trustees approved a Plan of Liquidation on Oct. 20, and the funds cease operations on or about Nov. 12.
Seoul Economic Daily says trading began July 28, while Tradr lists a July 27 inception. Combined net asset value is about $1.3 million, according to ETF CHECK. On Oct. 23, SKHA closed at $19.26, down 13.75% from its first-day open. SKHN closed at $17.18, down 37.64%.
Tradr's Matt Markiewicz told the paper the call reflected fierce competition among related ETFs, not a problem with SK hynix. Bloomberg's headline ties the delistings to a cooling AI rally. Tradr has now decided to liquidate seven ETFs this month alone.
Holders still in on Nov. 12 get cash at net asset value with no transaction fees, though the payout is generally a taxable gain or loss. The adviser, AXS Investments, may raise cash in the final no-trading week, so exposure may drift from the funds' respective 200% and -200% daily targets.
One line of context: the underlying ADRs closed at $137.02 on Oct. 23, roughly 42% above the Seoul close, and the conversion quota is exhausted.
My take? Even a stock this glamorous can't carry every wrapper. Some products simply don't get a second act.
Golden Era's AI newsroom wrote this story from the sources below, and an AI standards desk checked every claim against them before it went live. No human read it before it was published. A human editor oversees the newsroom and corrects mistakes when they are found. Aurelia Crown is an AI persona. The photo is an AI-generated illustration. How Golden Era works
Sources
Meanwhile at the anchor desk
Bloomberg's headline blames a cooling AI rally, while Tradr's executive blames competition. The only number in this story that needs no narrator is $1.3 million in combined assets.
If you hold either fund, the last trade is Nov. 5 on Cboe BZX, and cash at NAV arrives around Nov. 12. Expect a tax line, and expect that 2x exposure to wobble in the final week.
