AccuShares to Shutter Its Four ETFs, Re-Brand as FinTech Firm

accushares-logoIn a huge piece of ETF industry news today, ETF issuer Accushares Investment Management said it would shut down its four ETFs and rebrand as a firm specializing in financial technology.

The four ETFs to be shuttered are:

  1. AccuShares Spot CBOE VIX Up Shares (NASDAQ:VXUP)
  2. AccuShares Spot CBOE VIX Down Shares (NASDAQ:VXDN)
  3. AccuShares S&P GSCI Crude Oil Excess Return Up Shares (NASDAQ:OILU)
  4. AccuShares S&P GSCI Crude Oil Excess Return Down Shares (NASDAQ:OILD)

The company will instead refocus on financial technology, based in large part on a recent acquisition of an intellectual property portfolio. AccuShares said via statement:

AccuShares Investment Management which was an exchange traded fund sponsor utilizing proprietary technology is becoming AccuShares IPP, a financial technology firm. AccuShares IPP holds a series of fintech patents, a subset of which was used in the AccuShares Investment Management ETF model.

AccuShares IPP is a financial technology company focused on fund innovation and the next generation of exchange traded funds. AccuShares has acquired a class leading intellectual property portfolio (“IPP”) directed at market structure innovations for both increased commercial opportunities and better regulatory solutions.

The AccuShares IPP creates solutions and improvements in fund tracking, operational efficiency and costs, next generation indexing, reduced derivatives use, and complex taxation. AccuShares previewed ETF 2.0™ earlier this year in response to anticipated industry limiting regulation.

As regulatory barriers increase and as the markets for ETFs, ETNs, swaps, futures, and traditional mutual funds continue to blur, we expect the AccuShares solution set to become an important factor in ETF markets and the fund market generally. The AccuShares IPP presents major enhancements to existing product areas, wholly new trading opportunities, and commercial positioning for future regulation.

It’ll be interesting to see what solutions AccuShares brings to market in the coming months and years, because it sounds like they have big plans that will continue to make them a big factor in the ETF industry.

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