VanEck to liquidate a bitcoin ETF

Dow Jones01-17

MW VanEck to liquidate a bitcoin ETF

VanEck said Wednesday it has decided to liquidate its VanEck Bitcoin Strategy ETF (XBTF), following an analysis of performance, liquidity, assets under management and investor interest. The ETF sponsor said shareholders may sell their shares in the ETF until the market closes on Jan. 30. After the close, the ETF will be delisted. The ETF had average volume over the past 30 days of about 37,000 shares, according to FactSet. The ETF invests in front-month bitcoin futures (BTC.1), but doesn't directly invest in bitcoin (BTCUSD) or other cryptocurrencies. Bitcoin futures fell 1.8%, which puts them on track for the lowest close of 2024.

-Tomi Kilgore

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(END) Dow Jones Newswires

January 17, 2024 09:26 ET (14:26 GMT)

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