Just as the Obama administration fights to create a carbon credit market in the United States, the AirShares EU Carbon Allowances Fund (ASO: Quote, Profile, Advanced Chart, News) from Xshares plans its exit from the market. The fund was unable to attract enough investors, having less than 300 shareholders at the time of closure.

The fund will de-register itself from the NYSE Arca, one of the few ETFs able to administer such a closure due to its limited number of investors, according to the press release. The fund will trade until July 31, at which point investors will receive a cash payout equal to the net asset value plus any dividends or future disbursements at the close of trading. The fund was only able to attract $4.2 million in assets.

The closure presents an excellent opportunity for current investors to liquidate without any expense, as those who hold the ETF until July 31 will be opted out and incur no transaction costs or commissions.