VanEck is closing its Bitcoin Strategy ETF (XBTF) on January 30, just a week after launching its spot Bitcoin exchange-traded fund (ETF). The decision to close XBTF was influenced by factors such as performance, investor interest, liquidity, assets under management, and outflows leading up to the launch of the spot fund. Despite a 97% gain over the past year, XBTF faced $14.8 million in outflows since December 1, as investors awaited regulatory approval for spot Bitcoin ETFs. The emergence of spot Bitcoin ETFs raised questions about the future of futures-based Bitcoin ETFs, which have around $2 billion in assets. These futures ETFs have higher costs, particularly due to roll costs, compared to their spot counterparts. While the SEC approved 11 spot Bitcoin ETFs last week, the ProShares Bitcoin Strategy ETF (BITO) remains strong with nearly $2 billion in assets, benefiting from its early entry into the market.