OKLAHOMA
CITY, May 16, 2024 /PRNewswire/ -- The
Board of Trustees of ETF Series Solutions, upon a recommendation
from Exchange Traded Concepts, LLC, the investment adviser to the
BTD Capital Fund (the "Fund"), has determined to close and
liquidate the Fund immediately after the close of business on
May 30, 2024 (the "Liquidation
Date"). Shares of the Fund are listed on the New York Stock
Exchange.
Effective on or about May 22,
2024, the Fund will begin liquidating its portfolio assets.
This will cause the Fund to increase its cash holdings and deviate
from the investment objective and strategies stated in the Fund's
prospectus.
The Fund will no longer accept orders for new creation units
after the close of business on the business day prior to the
Liquidation Date, and trading in shares of the Fund will be halted
prior to market open on the Liquidation Date. Prior to the
Liquidation Date, shareholders may only be able to sell their
shares to certain broker-dealers, and there is no assurance that
there will be a market for the Fund's shares during that time
period. Customary brokerage charges may apply to such
transactions.
On or about the Liquidation Date, the Fund will liquidate its
assets and distribute cash pro rata to all remaining shareholders.
These distributions are taxable events. Distributions made to
shareholders should generally be treated as received in exchange
for shares and will therefore generally give rise to a capital gain
or loss depending on a shareholder's tax basis. Shareholders should
contact their tax advisor to discuss the income tax consequences of
the liquidation. As calculated on the Liquidation Date, the Fund's
net asset value will reflect the costs of closing the Fund, if any.
Once the distributions are complete, the Fund will terminate.
Proceeds of the liquidation will be sent to shareholders promptly
after the Liquidation Date.
Please retain this Supplement with your Summary Prospectus,
Prospectus, and SAI for future reference.
Investors should consider the investment objectives, risks,
charges and expenses carefully before investing.
For a prospectus or summary prospectus with this and other
information about the Fund, please visit our website at
www.kaiju.ai. Read the prospectus or summary prospectus carefully
before investing.
Investing involves risk, including loss of principal. An
investment in the Fund is subject to the following principal risks:
Active Management Risk, "Buy the Dip" Risk, Cash and Cash
Equivalents Risk, Equity Market Risk, ETF Risks, Investment Company
Risk, Large Cap Risk, Models and Data Risk, New Fund Risk,
Portfolio Turnover Risk, REIT Investment Risk, and Sector Risk. A
full description of these risks is in the prospectus.
The Fund is distributed by Quasar Distributors, LLC. Exchange
Traded Concepts, LLC (the "Adviser") serves as the Fund's
investment adviser. Kaiju ETF Advisors, LLC (the "Sub-Adviser")
serves as the Fund's investment sub-adviser.
Shares of ETFs are bought and sold at market price (not NAV) and
are not individually redeemed from the Fund. Brokerage commissions
will reduce returns.
Investment Products and Services:
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
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SOURCE Exchange Traded Concepts, LLC