Asset management firm VanEck has announced its decision to close and liquidate its Bitcoin Strategy ETF less than two years after its launch. The ETF had been listed on the Cboe BZX Exchange since November 2021.
In a statement released on January 17, VanEck disclosed that its board of trustees had approved the liquidation and dissolution of the Bitcoin Strategy ETF. This move comes approximately seven days after the asset management firm received approval from the United States Securities and Exchange Commission (SEC) to list shares of its spot BTC ETF.
According to VanEck, the decision to liquidate the fund was based on a comprehensive analysis of various factors, including performance, liquidity, assets under management, and investor interest, among others. Operational considerations also played a role in the decision-making process.
Limited Time for Shareholders
Shareholders who hold shares of the Bitcoin Strategy ETF will have until January 30 to sell their holdings. Subsequently, the ETF, traded under the ticker XBTF, will be delisted from the exchange by February 6.
VanEck’s decision to close the Bitcoin Strategy ETF highlights the dynamic nature of the ETF market and the importance of continuous evaluation to meet the evolving needs and interests of investors.
