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Two Terra ETPs Suspend Operations After Crypto-Market Meltdown

  • VanEck, 21Shares both react after week of digital-asset tumult
  • Luna has lost almost all its value as of Friday trading
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Seeing a Case of Terrible Timing With Terra: Bowler
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The creation and redemption of shares in two Terra exchange-traded products issued by VanEck and 21Shares were suspended on Friday as the week’s meltdown in the digital-asset space continued to take its toll.

Issuers of the 21Shares Terra ETP (ticker LUNA SW) and the VanEck Terra ETN (VLNA GR) both said the process has been halted for now amid the turmoil facing the TerraUSD stablecoin, which crashed from its US dollar peg on May 9. Luna, the token that was supposed to help TerraUSD hold the peg, has lost almost all of its value as of Friday, according to CoinGecko.