---
title: "Innovator bitcoin floor ETF, down 36% in a year, to liquidate in January"
url: "https://etf.net/news/innovator-bitcoin-floor-etf-down-36-in-a-year-to-liquidate-in-january-2026-09-17"
published_at: "2026-09-17T23:28:54.313Z"
updated_at: "2026-09-17T23:28:54.313Z"
byline: "ETF.net Research"
---

# Innovator bitcoin floor ETF, down 36% in a year, to liquidate in January

On Thursday, September 17, 2026, Innovator ETFs Trust filed to liquidate Innovator Uncapped Bitcoin 20 Floor ETF QBF, a $14.0 million fund down 36% over 12 months. Trading ends December 31; cash is paid January 8, 2027.

By ETF.net Research. Published Sep 17, 2026.

Innovator ETFs Trust told holders of its quarterly bitcoin floor fund on Thursday that trading will halt at the close on December 31 and that cash will be paid on January 8. That is more than three months of exchange trading, then a week in which a remaining holder has no listed bid.

## QBF: last trade December 31, cash January 8

Innovator Uncapped Bitcoin 20 Floor ETF QBF is a Cboe BZX fund that seeks a slice of bitcoin's price return over successive three-month windows, with a 20% floor on losses, before fees. It listed on February 6, 2025, and held **$14.0 million** as of Wednesday. Shares closed Thursday at **$17.55**, down **36%** over 12 months.

The 20% floor is not a 12-month promise. It runs for one outcome period and resets; the upside is a participation rate, not bitcoin's return. For the July 1 through September 30 window, the starting participation rate is **65.83%** of bitcoin's price return, before fees, and the net floor is **20.20%** once the 0.79% management fee is counted. That is how a fund with a 20% floor in its name is down **36%** over 12 months.

The board of Innovator ETFs Trust, on the recommendation of Innovator Capital Management, "has determined to close and liquidate the Fund." The paper does not say why. The shares turn over **$75,000** on an average day.

Creations stop at the close on December 23. Holders may sell shares on the listing exchange until market close on December 31, after which the shares stop trading and are to be delisted. Anyone still holding at the close on January 8, 2027, receives a cash distribution equal to their proportionate interest in net assets, subject to required withholdings. In a taxable account, the filing says those proceeds are generally taxable to the extent they exceed adjusted basis.

The same trust in June halted Innovator Gradient Tactical Rotation Strategy ETF and Innovator Hedged Nasdaq-100 ETF at the close on July 10 and liquidated them at the close on July 15.

## Two xETFs prospectuses take effect, unlaunched

Exchange Listed Funds Trust on Thursday made prospectuses effective for two new funds, both advised by Exchange Traded Concepts. Neither has commenced operations.

Table: Fund, Ticker, Expense ratio, Exchange

Anyone who wants an exchange print from QBF has until the close on December 31. After that, the only exit is the January 8 cash distribution.

Source: etf.net, https://etf.net/news/innovator-bitcoin-floor-etf-down-36-in-a-year-to-liquidate-in-january-2026-09-17. Please cite the page URL.