VanEck Bitcoin Strategy ETF Price & Performance (XBTF)

VanEck is shutting down its Bitcoin Strategy ETF (XBTF), a futures-based fund, after its new spot Bitcoin ETF quickly surpassed XBTF in assets. The move reflects shifting investor preference for spot products over futures. VanEck cited performance, liquidity, and investor demand as key factors behind the decision.12

Analysis of Strategy’s weekly Bitcoin buys reveals a weak correlation with BTC’s market price. Over 27 weeks, these purchases represented a small share of total trading volume and had minimal influence on price movement, suggesting broader market activity, not structured buying, primarily drives Bitcoin’s value fluctuations.34

VanEck is launching its Onchain Economy ETF (NODE) on May 14, targeting 30–60 crypto-related equities for diversified exposure. The ETF avoids direct crypto holdings, instead focusing on firms integral to digital asset infrastructure, and utilizes a Cayman structure for partial crypto exposure. Regulatory approval was recently secured.51