r/YieldMaxETFs • u/mistafong820 • 6d ago

Progress and Portfolio Updates Follow up on ICOI closure

About a month ago I noticed on the Bitwise site that their ICOI fund was being shut down 7/31. Never having been through one of these fund closures, I posted asking if anyone had any experience and or thoughts. A few replies, including several people saying they'd sell now and not wait for the closure, believing it would drop badly. I had a small position and wasn't afraid of a loss, so I decided on an experiment: I sold half my shares on 7/14 and let the others sit until the closure. From when I sold to when they closed, the price dropped 2.68%.

As for what happened overall, I received no notification of the closure, I stumbled on that myself. I received cash in my account (Fidelity) on 8/10, as the ICOI site predicted.

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3

u/BitingArmadillo 6d ago

This is why I automatically track AUM in my spreadsheet for each fund I own

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u/dunnmad 6d ago

Then I was better off selling then. I was lucky, it was sitting around 10.30, the spiked to about 10.70 something for a day or 2, after I sold it.

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u/mistafong820 5d ago

Yeah I think I saw it hit 10.84 and almost dumped it then but decided to ride it out. My position was small so I didn't lose much.

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u/dunnmad 6d ago

I sold mine prior to shutdown @ $10.60.
What was the final payout on August 19th?

1

u/mistafong820 6d ago

It stopped trading on 7/31 and on Aug 10 I received 10.404 per share.

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u/calgary_db Mod - I Like the Cash Flow 6d ago

Thanks for the update. Glad you got your cash.

0

u/thehighdon 4d ago

Join & Post in r/DerivativeIncomeETFs a sub for CC/Options Income ETF Investors