Three Themes funds last trade Monday; remaining holders wait for Friday cash
Themes US Cash Flow Champions ETF LGCF, Themes US Small Cap Cash Flow Champions ETF SMCF and Themes Lithium & Battery Metal Miners ETF LIMI last traded Monday, September 21, 2026, with $7.81 million combined; cash is due on or about September 25. The same board closed 13 Themes ETFs in July.
Anyone still on the register of the three Themes ETF Trust funds that stopped trading at Monday's close will not get another exchange session. The next event in the board's notice is a cash payment, on or about Friday, September 25, at net asset value.
The board said the funds had not attracted enough assets. It gave the same reason on July 17, when it announced it would close thirteen ETFs, and in June, when it closed five. LGCF and SMCF opened in December 2023; LIMI opened in September 2024. The trust this week also asked the SEC to register five daily leveraged ETFs on companies that have not listed (Themes files five daily ETFs on Altera and Stratolaunch before either lists). There were no SEC filings on Monday, and the halt came from the notice published Wednesday.
The three funds held $7.81 million combined after the session, 200,000 shares outstanding in total: a U.S. cash-flow stock fund, its small-cap counterpart, and a lithium and battery-metal miners fund. Creations and redemptions already ended after Friday, as Two Themes funds closed 0.03% from NAV on their last creation day laid out. From Monday's close through the liquidation date, the notice says shareholders may only be able to sell to certain broker-dealers, and that there is no assurance of a market. The liquidating distribution will be taxable and may include accrued capital gains and dividends; net asset value on the payment date will reflect the costs of closing.
LGCF and SMCF last traded on Nasdaq; LIMI last traded on Cboe. Monday's last closes sat $0.02 to $0.14 below that session's NAVs.
Three other shutdowns still give holders an exchange. Global X to liquidate four ETFs as Wednesday's SEC record stays empty leaves trading through Friday, October 16. CoinShares to liquidate BTF and DIME on October 21 leaves Nasdaq through Tuesday, October 20. Innovator bitcoin floor ETF, down 36% in a year, to liquidate in January leaves trading through the close on December 31, with cash due January 8, 2027.
Frequently asked
Can I still sell these three ETFs on an exchange?
No: they stopped trading at Monday's close, and the notice says shareholders may only be able to sell to certain broker-dealers, with no assurance of a market.
What happens to my shares now?
Remaining holders get a cash liquidating distribution at net asset value on or about Friday, September 25.
Why are the funds closing?
The board said they had not attracted enough assets, the same reason it gave when closing thirteen Themes ETFs in July and five in June.
Is the payout taxable?
Yes: the liquidating distribution will be taxable and may include accrued capital gains and dividends, and the payment-date NAV will reflect the costs of closing.