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Bitcoin ETF

Bitcoin

In a significant move impacting cryptocurrency investment vehicles, VanEck announced on Wednesday its decision to liquidate the VanEck Bitcoin Strategy ETF. 
The decision announced in a Jan. 16 press <a href="https://www.businesswire.com/news/home/20240117579973/en/VanEck-Announces-Changes-to-ETF-Product-Line" target="_blank" rel="noopener">release</a>, was influenced by a comprehensive analysis of the fund’s performance, liquidity, assets under management, and investor interest, marks a notable shift in the ETF landscape. 
According to <a href="https://crypto.news/tag/vaneck/">VanEck</a>, shareholders holding positions in the VanEck Bitcoin Strategy ETF (XBTF) have until the market close on Jan. 30 to sell shares. The ETF, which has recently experienced a 1.4% decline, will be officially delisted from the market after this deadline. This move comes amidst fluctuating fortunes in the cryptocurrency market, with front-month Bitcoin (BTC) futures also witnessing a 1.6% drop, further signaling cautious investor sentiment. 
 You might also like: <a href="https://crypto.news/vaneck-to-support-bitcoin-developers-using-etf-profits/"> VanEck to support Bitcoin developers using ETF profits </a> 
The ETF, trading with an average volume of approximately 37,000 shares over the past 30 days, primarily invests in front-month Bitcoin futures, per FactSet data. However, it notably does not directly invest in Bitcoin or other cryptocurrencies. 
Bitcoin is trading at $42,300 after seeing its price fall by 2.2% over the last 24 hours. The trading volume has fallen sharply from the $62 billion at the time of the Bitcoin ETF approval to the current value of $22 billion. 
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 <img loading="lazy" decoding="async" width="975" height="396" src="https://crypto.news/app/uploads/2024/01/BTC_7D_graph_coinmarketcap-2.png" alt="VanEck to liquidate Bitcoin futures ETF - 24" class="wp-image-14239355">
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 Bitcoin seven-day price chart. | Source: CoinMarketCap
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 Read more: <a href="https://crypto.news/vaneck-predicts-record-high-for-bitcoin-in-late-2024/"> VanEck predicts record high for Bitcoin in late 2024 </a>

VanEck to liquidate Bitcoin futures ETF

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