VanEck to delist Bitcoin Strategy ETF, citing performance and investor interest

The NFT Unicorn 86efe7b8-98f8-4d52-81d8-9addaff861ce VanEck to delist Bitcoin Strategy ETF, citing performance and investor interest Crypto News

Asset management firm VanEck announced that it plans to close and liquidate its Bitcoin (BTC) strategy exchange-traded fund less than two years after it launched.

In a Jan. 17 announcement, VanEck said its board of trustees approved the liquidation and dissolution of the Bitcoin Strategy ETF on the Cboe BZX Exchange, where it had been listed since November 2021. The decision came roughly seven days after the asset management firm received approval from the United States Securities and Exchange Commission to list shares of its spot BTC ETF.

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

The asset manager said shareholders would still be able to sell their shares of the Bitcoin Strategy ETF until Jan. 30, and the fund under the ticker XBTF would be delisted by Feb. 6.

This is a developing story, and further information will be added as it becomes available.

Source: Cointelegraph