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NEW YORK – VanEck, a global investment manager, confirmed the upcoming liquidation of its strategic ETF (EXCHANGE:XBTF) after receiving the green light from the US Securities and Exchange Commission (SEC) to launch a Bitcoin ETF cash. The board's decision comes amid considerations about investor interest, assets under management and the regulatory landscape.
Shareholders of the XBTF ETF are recommended to sell their holdings by January 30, or they will be provided with a cash payout upon liquidation of the fund. The ETF will cease trading and be officially delisted from the Cboe BZX Exchange on February 6.
Investors are also being alerted to potential tax implications. Those who will receive the liquidating distribution may face capital gains taxes if the distribution is greater than their original purchase price. This move by VanEck marks a significant shift in its cryptocurrency-related offerings, reflecting a strategic adaptation to the evolving investment and regulatory environment.
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