Exchange Listed Funds Trust has announced plans to liquidate its xETFs TSLA Daily Income ETF, a significant move that will take effect on or about November 20, 2026. This decision comes after careful consideration by the investment adviser, Exchange Traded Concepts, LLC, and has been approved by the Board of Trustees.
The liquidation process will begin with the Fund closing to orders for new creation units on November 16, 2026. The last day of trading for the Fund's shares on NYSE Arca is expected to be around November 17, 2026. Following this, shareholders will only be able to sell their shares to select broker-dealers, and there is no guarantee of a market for the shares during this period.
Exchange Listed Funds Trust, incorporated in Delaware, operates as an investment company. The xETFs TSLA Daily Income ETF, which trades under the ticker symbol TYYY, is designed to provide returns linked to Tesla's stock performance. However, the decision to liquidate reflects ongoing challenges within the investment landscape.
The filing noted that the Fund will be managed in a way that facilitates an orderly liquidation, which may involve raising cash or investing in highly liquid assets. This strategy may lead to deviations from the Fund's stated investment objectives.
On the Liquidation Date, the Fund will liquidate its assets and distribute cash to shareholders on a pro-rata basis. These distributions will be taxable events and will include any accrued capital gains and dividends. The net asset value of the Fund will reflect the costs associated with the liquidation process.
For shareholders, this means they will need to prepare for the liquidation and the associated tax implications. The move may also prompt other investment firms to reassess their strategies in light of the challenges faced by Exchange Listed Funds Trust.
The filing does not specify what steps will follow the liquidation process, but interested parties can contact the company for further information.