According to Foresight News, VanEck intends to close and liquidate one of its VanEck ETF products. On January 16, 2023, the board of the VanEck ETF Trust approved the liquidation and dissolution of the VanEck Bitcoin Strategy ETF (XBTF), which trades on the CBOE platform. Shareholders of the fund can sell their shares on the fund's listed exchange before the market closes on January 30, 2024, which may generate broker-dealer transaction fees.
The fund's shares will no longer trade on the listed exchange after the market closes on January 30, 2024, and will subsequently be delisted. Shareholders holding shares of the fund will receive a cash liquidation distribution equal to the net asset value of their shares on the fund's liquidation date, which is expected to be on or before February 6, 2024. The liquidation proceeds are expected to be sent to shareholders on or before February 6, 2024.