https://www.reuters.com/markets/eur...f-suspends-creation-shares-2022-03-02/Trading of VanEck’s Russia ETFs (RSX and RSXJ) Continues
March 2, 20226:48 PM ESTLast Updated 2 days ago
VanEck Russia ETF suspends creation of shares
Reuters
1 minute read
March 2 (Reuters) - Exchange traded fund operator VanEck said on Wednesday it was temporarily suspending the creation of new shares of its Russian fund (RSX.Z) due to Russia's invasion of Ukraine.
In a filing to the U.S. Securities and Exchange Commission, VanEck pointed to complications related to the deepening military conflict, the West's recently imposed financial sanctions, and Moscow's recently introduced capital controls on money entering and leaving Russia.
"Although shares of the Fund are expected to continue trading on Cboe BZX Exchange, Inc., there can be no assurance that an active market will be maintained for the Fund’s shares," VanEck said.
Following a 13% drop on Wednesday, the fund, called the VanEck Russia ETF, has tumbled about 70% since Feb. 16. It now has a market capitalization of about $388 million, according to Refinitiv data.
Reporting by Noel Randewich in Oakland, Calif. Editing by Matthew Lewis
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March 04, 2022 01:13 PM Eastern Standard Time
NEW YORK--(BUSINESS WIRE)--We at VanEck are aware of concerns about a halt in trading of VanEck Russia ETF (Cboe: RSX) and the VanEck Russia Small-Cap ETF (Cboe: RSXJ) and would like to remind market participants that this is the responsibility of the listing exchange—in this case, CBOE.
We would also like to remind investors of the significant risks of investing in Russian securities, several of which are being realized. These risks, among others, include the risks of government intervention and restrictions, sanctions, and nationalization. Also, in times of market dislocation, the ETF shares may trade at a premium or discount to the ETF’s net asset value.
It sounds like VanEck is trying to shift blame to CBOE.
March 2, 20226:48 PM ESTLast Updated 2 days ago
VanEck Russia ETF suspends creation of shares
Reuters
1 minute read
March 2 (Reuters) - Exchange traded fund operator VanEck said on Wednesday it was temporarily suspending the creation of new shares of its Russian fund (RSX.Z) due to Russia's invasion of Ukraine.
In a filing to the U.S. Securities and Exchange Commission, VanEck pointed to complications related to the deepening military conflict, the West's recently imposed financial sanctions, and Moscow's recently introduced capital controls on money entering and leaving Russia.
"Although shares of the Fund are expected to continue trading on Cboe BZX Exchange, Inc., there can be no assurance that an active market will be maintained for the Fund’s shares," VanEck said.
Following a 13% drop on Wednesday, the fund, called the VanEck Russia ETF, has tumbled about 70% since Feb. 16. It now has a market capitalization of about $388 million, according to Refinitiv data.
Reporting by Noel Randewich in Oakland, Calif. Editing by Matthew Lewis
___________________________________________________
March 04, 2022 01:13 PM Eastern Standard Time
NEW YORK--(BUSINESS WIRE)--We at VanEck are aware of concerns about a halt in trading of VanEck Russia ETF (Cboe: RSX) and the VanEck Russia Small-Cap ETF (Cboe: RSXJ) and would like to remind market participants that this is the responsibility of the listing exchange—in this case, CBOE.
We would also like to remind investors of the significant risks of investing in Russian securities, several of which are being realized. These risks, among others, include the risks of government intervention and restrictions, sanctions, and nationalization. Also, in times of market dislocation, the ETF shares may trade at a premium or discount to the ETF’s net asset value.
It sounds like VanEck is trying to shift blame to CBOE.
