While spot Bitcoin ETF approvals continue to be on the agenda of the cryptocurrency market, a new move came from VanEck.
Accordingly, VanEck announced that it will close its Bitcoin futures ETF.
In the statement, it was stated that on January 16, 2023, the VanEck ETF Trust Board of Trustees approved the liquidation of the VanEck Bitcoin Strategy ETF.
“Fund shareholders may sell their shares on the Fund's listed exchange until market close on January 30, 2024.
The Fund's shares will no longer be publicly traded after market close on January 30, 2024, and the shares will then be delisted.
On the Fund's liquidation date, which is expected to be on or about February 6, 2024, shareholders who continue to hold Fund shares will receive cash distributions equal to the net amount from the cash portion of their brokerage accounts. “
*This is not investment advice.