FaithShares is liquidating its entire ETF roster and the company's CEO is starting a new venture, NewsOK.com reports.

Garrett Stevens is starting a new firm called Exchange Traded Concepts, which, acccording to its Web site, will provide "a portal to launch new custom exchange traded funds quickly and inexpensively through a complete turnkey solution."

"We are closing these (funds) and transitioning to a new business model that's much larger in scope," Stevens told the pub. "Everything we have learned over the past couple of years will make this new venture ultimately successful." 

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