Key Takeaways
- • Trading Halt: Quantify 2x Daily Alt Season Crypto ETF (QXAS) will cease trading on the NYSE at the close of regular trading on Thursday, April 23, 2026, with creation orders discontinued as of that date.
- • Liquidation Timeline: The Fund will liquidate its portfolio between April 23 and April 30, 2026, with final cash distributions to remaining shareholders expected on or around April 30, 2026, after which QXAS will be formally terminated.
- • Strategic Decision: Quantify Funds and Tidal Investments LLC determined that closure is in the best interests of shareholders following a comprehensive review, though specific reasons for the wind-down were not disclosed.
- • Shareholder Action Required: Investors holding QXAS shares have until April 23, 2026, to sell through standard brokerage transactions; after that date, secondary market trading may be unavailable and liquidity cannot be assured.
- • Tax Implications: Final cash distributions will be treated as taxable events, requiring shareholders to consult tax advisers regarding capital gains, losses, and distributed income consequences.
Summary
Quantify Funds, in coordination with Tidal Investments LLC, announced on April 16, 2026, the closure and liquidation of the Quantify 2x Daily Alt Season Crypto ETF (Ticker: QXAS). Following a comprehensive review, the fund sponsors determined that winding down the fund represents the optimal outcome for shareholders. The announcement establishes a structured timeline for the wind-down process with clear milestones for investors.
Trading in QXAS will terminate at the close of regular trading on Thursday, April 23, 2026. Creation orders will no longer be accepted as of that date. Shareholders retain the ability to sell their shares prior to the closing date through conventional brokerage transactions, though customary transaction fees will apply. However, the primary source does not specify asset under management (AUM), performance metrics, or explicit reasons for the closure decision.
Between April 23 and April 30, 2026, the fund will enter its liquidation phase, during which portfolio holdings will be converted to cash and positions may deviate from the Fund's stated investment objective. On or around April 30, 2026, remaining net assets will be distributed as cash on a pro-rata basis to shareholders of record who have not previously sold or redeemed their shares. Following this final distribution, QXAS will be formally terminated.
Shareholders should anticipate tax consequences from the liquidation process. The cash distribution will generally constitute a taxable event, with implications for capital gains or losses depending on individual cost basis. The announcement explicitly encourages shareholders to consult tax advisers regarding their specific tax treatment. After April 23, 2026, secondary market trading may become unavailable, and liquidity cannot be assured for investors who do not execute sales by the closing date.
Tidal Investments LLC, formed by ETF-industry veterans, serves as the coordinating partner in this wind-down. The firm specializes in ETF product development and distribution services designed to support innovative investment strategies. The decision to close QXAS reflects broader industry dynamics within the crypto ETF landscape, though the announcement does not elaborate on specific performance or market factors driving the closure.
Trading in QXAS will terminate at the close of regular trading on Thursday, April 23, 2026. Creation orders will no longer be accepted as of that date. Shareholders retain the ability to sell their shares prior to the closing date through conventional brokerage transactions, though customary transaction fees will apply. However, the primary source does not specify asset under management (AUM), performance metrics, or explicit reasons for the closure decision.
Between April 23 and April 30, 2026, the fund will enter its liquidation phase, during which portfolio holdings will be converted to cash and positions may deviate from the Fund's stated investment objective. On or around April 30, 2026, remaining net assets will be distributed as cash on a pro-rata basis to shareholders of record who have not previously sold or redeemed their shares. Following this final distribution, QXAS will be formally terminated.
Shareholders should anticipate tax consequences from the liquidation process. The cash distribution will generally constitute a taxable event, with implications for capital gains or losses depending on individual cost basis. The announcement explicitly encourages shareholders to consult tax advisers regarding their specific tax treatment. After April 23, 2026, secondary market trading may become unavailable, and liquidity cannot be assured for investors who do not execute sales by the closing date.
Tidal Investments LLC, formed by ETF-industry veterans, serves as the coordinating partner in this wind-down. The firm specializes in ETF product development and distribution services designed to support innovative investment strategies. The decision to close QXAS reflects broader industry dynamics within the crypto ETF landscape, though the announcement does not elaborate on specific performance or market factors driving the closure.
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