VanEck Bitcoin Strategy ETF (XBTF) is an actively managed exchange-traded fund incorporated in the United States and sponsored by VanEck ETF Trust, a series of VanEck Vectors ETF Trust, that seeks capital appreciation primarily through investments in standardized, cash-settled bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME); the fund provides indirect exposure to bitcoin price movements via front-month futures and other bitcoin-linked derivatives, as well as through investments in other funds and a Cayman Islands subsidiary, without directly holding bitcoin or other digital assets. Launched on November 15, 2021, and listed on Cboe BZX Exchange, XBTF targets investors seeking bitcoin-linked returns through an accessible ETF vehicle and is managed by Van Eck Absolute Return Advisers Corp., a subsidiary of VanEck, with the sponsor headquartered at 666 Third Avenue, New York, New York. VanEck, founded in 1955, operates globally with offices in the United States, Europe, and Asia-Pacific, focusing on ETFs across commodities, equities, and digital assets.
In a major strategic shift, VanEck announced the liquidation and closure of XBTF in January 2024 following SEC approval of its spot bitcoin ETF, VanEck Bitcoin Trust (HODL), citing factors including performance, liquidity, assets under management, and shifting investor interest toward direct bitcoin exposure products. Trading of XBTF shares ceased after market close on January 30, 2024, with final liquidating distributions of approximately $39.75 per share paid to remaining shareholders on February 8, 2024. This operational change reflects VanEck's portfolio optimization amid the 2024 launch of spot bitcoin ETFs, prioritizing higher-conviction offerings like HODL over futures-based strategies. No subsequent reopenings, partnerships, or product relaunches for XBTF have been reported as of late 2025.