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 European Markets 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.
You may still luck out if there is a short squeeze. It was selling at 150% to the underlying last traded. On the option show Friday 5:30 est it was discussed. See if you can find on cnbc.com it may take a day or two show. Many times overvalued goes to even more overvalued. If russia settles with ukraine rsx could go up not down.
It is definitely a gamble of a trade since Russia markets are still closed but like you said if Russia settles with Ukraine in the next week or so it could definitely make things interesting. It is definitely a lotto play. I don't think though sanctions lift from Russia as soon as this stops. They will be in place for a long time.
Anything and everything related to Russia is being shutdown. Simply amazing to see this unfold the way it has.
I bought the TUR fund during the siege, RSX was a unintentional blunder. Guess it’s a long term investment now?
It is amazing and equally shocking. It will also lead to a huge distrust by the entire rest of the world questioning whether placing a single dime within reach of US makes sense ever again. And the hunger for debt and borrowed money by the common American man is fully dependent on foreign investment goodwill...