Quantify 2x Daily Alt Season Crypto ETF to Close

Quantify Funds and Tidal Investments announce the closure and liquidation of the QXAS ETF.

Apr. 16, 2026 at 8:51pm

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A high-contrast, close-up image of the internal gears and mechanisms of a financial trading platform, conceptually representing the complex infrastructure behind cryptocurrency markets and investment products.The closure of the QXAS crypto ETF reflects the ongoing volatility and operational complexities of specialized digital asset investment products.NYC Today

Quantify Funds, in coordination with Tidal Investments LLC, has announced the closure and liquidation of the Quantify 2x Daily Alt Season Crypto ETF (QXAS). Following a comprehensive review, the decision was made that closing the fund is in the best interests of shareholders. The fund will cease trading on the NYSE at the close of regular trading on Thursday, April 23, 2026, and creation orders will no longer be accepted as of that date.

Why it matters

The closure of the QXAS ETF reflects the ongoing volatility and uncertainty in the cryptocurrency market, as well as the challenges of managing leveraged and specialized crypto investment products. This decision may signal broader shifts in the crypto ETF landscape as fund providers reevaluate their offerings and focus on more stable and diversified investment strategies.

The details

The Quantify 2x Daily Alt Season Crypto ETF (QXAS) was designed to provide 2x leveraged exposure to a basket of alternative cryptocurrencies during periods of 'alt season' - times when altcoins outperform Bitcoin. However, the fund has struggled with volatility and underperformance, leading Quantify Funds and Tidal Investments to conclude that closing the fund is the best course of action for shareholders.

  • The fund will cease trading on the NYSE at the close of regular trading on Thursday, April 23, 2026.
  • Creation orders for the fund will no longer be accepted as of April 23, 2026.

The players

Quantify Funds

An investment management firm that offers a range of specialized and leveraged cryptocurrency-related ETFs.

Tidal Investments LLC

An investment firm that partnered with Quantify Funds to launch and manage the QXAS ETF.

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The takeaway

The closure of the QXAS ETF highlights the ongoing challenges and risks associated with leveraged and specialized cryptocurrency investment products. As the crypto market continues to evolve, fund providers may need to reevaluate their offerings and focus on more stable and diversified strategies to meet investor demand.