VanEck Shutters Bitcoin Futures ETF After Underperformance
• VanEck is liquidating its Bitcoin Strategy ETF that invests in bitcoin futures • The ETF will stop trading on Jan 30 and be delisted, with shareholders receiving a cash distribution around Feb 6 if not sold • The ETF has underperformed bitcoin futures recently with lower returns • The ETF had $54.4 million in assets and low daily trading volume of 37,000 shares • This comes less than a week after the launch of the first spot bitcoin ETFs