LionShares to Liquidate U.S. Equity Total Return ETF (TOT) on October 28

LionShares plans to liquidate the LionShares U.S. Equity Total Return ETF (TOT), following a recommendation from the fund's investment adviser. According to an October 9 filing, the fund will cease trading on NYSE Arca and stop accepting new creation orders after October 26, 2026, with liquidation scheduled for approximately October 28. Ahead of the closure, TOT will begin selling portfolio holdings and increasing its cash position, potentially deviating from its stated investment objective and strategies. Shareholders who retain their positions through liquidation will receive cash distributions based on the fund's remaining net asset value, after any applicable closing costs. The distributions will generally be treated as taxable transactions, potentially resulting in capital gains or losses depending on each investor's cost basis.