2024

Wednesday

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">In a significant move impacting cryptocurrency investment vehicles, VanEck announced on Wednesday its decision to <a rel="noopener noreferrer nofollow" title="liquidate" href="https://thebittimes.com/tag/liquidate.html">liquidate</a> the VanEck Bitcoin Strategy ETF.</p>
 <p>The decision announced in a Jan. 16 press release, was influenced by a comprehensive <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of the fund’s performance, liquidity, assets under management, and investor interest, marks a notable shift in the ETF landscape.</p>
 <p>According to VanEck, 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) <a rel="noopener noreferrer nofollow" title="futures" href="https://thebittimes.com/tag/futures.html">futures</a> also witnessing a 1.6% drop, further signaling cautious investor sentiment.</p>
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 <p>The ETF, trading with an average volume of approximately 37,000 shares over the past 30 days, primarily invests in front-month Bitcoin <a rel="noopener noreferrer nofollow" title="futures" href="https://thebittimes.com/tag/futures.html">futures</a>, per FactSet data. However, it notably does not directly invest in Bitcoin or other cryptocurrencies.</p>
 <p>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.</p>
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   <img decoding="async" width="975" height="396" src="https://cdn.thebittimes.com/images/2024/01/18/d964bdb23664fcc28c2f8cac337b5672.webp" alt="VanEck to liquidate Bitcoin futures ETF - 1"> 
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   Bitcoin seven-day price chart. | Source: CoinMarketCap
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> VanEck predicts record high for Bitcoin in late 2024
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/vaneck-to-liquidate-bitcoin-futures-etf-tbt76890.html">https://thebittimes.com/vaneck-to-liquidate-bitcoin-futures-etf-tbt76890.html</a></p>

VanEck to liquidate Bitcoin futures ETF

TheBitTimes

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