VanEck announces closure and liquidation of its Bitcoin Strategy ETF product
VanEck announced plans to close and liquidate one of its VanEck ETF products. On January 16th, 2023, the board of directors of VanEck ETF Trust approved the liquidation and dissolution of the following fund: VanEck Bitcoin Strategy ETF (XBTF), which trades on the CBOE platform.
Shareholders of the fund may sell their shares on the fund's listed exchange before market close on January 30th, 2024 (broker-dealer transaction fees may apply). The fund's shares will no longer trade on the listed exchange after market close on January 30th, 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 (expected to be on or before February 6th, 2024). The liquidation proceeds are expected to be sent to shareholders on or before February 6th, 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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