Credit Suisse declined to comment about its plans to close the funds.
The bank is also shutting three notes tracking oil in mid-August, according to a statement. The Credit Suisse X-Links WTI Crude Oil Index ETN, or OIIL, currently has about $4.1 million in assets. The AxelaTrader 3x Long Brent Crude Oil ETN, or UBRT, and its three-times inverse sibling, ticker DBRT, have $5.3 million and $2.4 million in assets, respectively.
This isn’t Credit Suisse’s first time washing its hands of ETNs tracking crude. In 2016, the bank delisted two massively popular oil notes which had gained attention earlier that year as crude plummeted and investors, particularly millennials, started pouring cash into them.
A month later, Citigroup Inc. scooped up the strategies, slightly changed both tickers, and brought the notes back from the dead.
This article was provided by Bloomberg News.