VanEck to list Bitcoin Strategy ETF citing performance and investor interest

Asset management firm VanEek has announced plans to close its Bitcoin (BTC) strategic exchange-traded fund, less than two years after its launch.

In a Jan. 17 announcement, VanEck said its board of directors has approved the dissolution and liquidation of the Bitcoin Strategy ETF, which will be listed on the Cboe BZX exchange from November 2021. The decision came about seven days after the asset management company received it, he said. Approval from the United States Securities and Exchange Commission to list the spot BTC ETF shares.

“VanEck continuously monitors and evaluates its ETF offerings for a number of factors, including performance, liquidity, assets under management and investor interest, among others,” VanEck said. “The decision was made based on an analysis of these circumstances and other operational issues to dissolve the fund.”

Now that our position bitcoin ETF has been approved, we are closing an ETF that invests in bitcoin futures. https://t.co/pgf8NaKb4a

— VanEck (@vaneck_us) January 17, 2024

Related: VanEck Promises 5% Spot Bitcoin ETF Profits to Chief Davis After SEC Approval

The asset manager said shareholders can sell their shares in the Bitcoin Strategy ETF until January 30, and the fund under ticker XBTF will be liquidated on February 6. In a January 17 X post, Van Eyck proposed the EFF. The SEC-approved position associated with BTC futures has been removed due to Bitcoin investment vehicles.

The VanEck Bitcoin Trust ETF has been available for trading on the Cboe BZX Exchange since January 11, with all recently approved spot Bitcoin ETFs paying nearly $4.5 billion on their first day. According to a report from CoinShares, inflows into US crypto products for the week ending January 12 exceeded those of Canada, Germany and Sweden.

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