Online broker eToro today provided an update on the status of $AI16Z – an experimental crypto asset.

eToro stated:

“Due to market conditions, our provider has informed us that they will no longer support this token. As a result, $AI16Z is now set to “Close only.”

Traders can close any existing positions in this asset. However, they cannot open new positions in this asset at this time. Their current $AI16Z positions will remain visible in their portfolio, and they can manage them as usual.

eToro added:

“We understand that many users may ask whether the token will be migrated. Our teams are currently reviewing potential migration options with our provider. If migration becomes possible, we will update you as soon as we have more information.”

ai16z is an AI-driven venture capital platform. Inspired by venture capital firm Andreessen Horowitz (a16z), ai16z combines artificial intelligence with decentralised finance (DeFi) to automate and optimise early-stage crypto investments.