VanEck ETF Trust's board of trustees recently approved the liquidation and dissolution of the VanEck Bitcoin Strategy ETF (BATS:XBTF), VanEck said on Wednesday.

The decision was made to liquidate the bitcoin (BTC-USD) futures exchange-traded fund based on an analysis of performance, liquidity, assets under management, and investor interest, among other operational considerations.

Holders of the fund may sell their shares until market close on Jan. 30, 2024. From there, the fund's shares will no longer trade on its listing exchange and the shares will subsequently be delisted.

Those who continue to hold shares of the fund on the fund’s liquidation date, which is expected to be on or about Feb. 6, 2024, will receive a liquidating distribution of cash equal to the amount of the net asset value of their shares.

Proceeds from the liquidation are currently scheduled to be sent to shareholders on or about Feb. 6, 2024. The fund will stop accepting creation orders from authorized participants on Jan. 30, 2024.