Two U.S.-listed leverage exchange-traded funds (ETFs) tied to SK Hynix stock are set to be liquidated about three months after their market debut.

According to Bloomberg on October 26, fund manager Tradr ETFs announced in a statement that it will terminate the operations of two funds, the Tradr SK Hynix 2X Long Daily ETF and the Tradr SK Hynix 2X Short Daily ETF, around November 12.

The two funds, which track 2x and inverse 2x the daily returns of SK Hynix American Depositary Receipts (ADRs) respectively, were listed on July 28.

Trading and the creation and redemption of shares for both funds will be available until November 5, after which assets will be liquidated and proceeds distributed to shareholders following the termination on November 12.

The long fund has fallen more than 5% since trading began, while the short fund has dropped 42%.

During the same period, SK Hynix ADRs rose by about 5%.

The assets under management for the two funds have decreased by over 60% from their peak, currently totaling about $1.3 million (approx. 1.7 billion KRW).

SK Hynix listed its ADRs on Nasdaq on July 10, following which ProShares, Leverage Shares, and Direxion successively introduced similar products linked to SK Hynix.

Bloomberg reported that the liquidation stems from a cooling of investor interest in AI-related trades.

SK Hynix's primary shares in Seoul have fallen 56% from their all-time high.