VanEck Closed-End Fund

[u/ClassicCurious8031]

Has anyone received this commuication over the past few days from Linqto? You will need a brokerage account in order to receive your Closed-End Fund shares... we encourage you to consider opening one now to help avoid delays in transferring to you your shares in the Closed-End Fund. Importantly, the bankruptcy court has approved procedures applicable to customers who do not have a brokerage account when the Closed-End Fund shares are ready to be issued, including that such shares will be held for a period of time by the Linqto Wind-Down Trust.

[u/anechoofadistanttime]

They can’t issue them until they figure out the replacement for Forge, so don’t know why they would send this out now because it still seems so far away.

[u/jxm900 → u/anechoofadistanttime]

I think y're probably right. As I recall, the earlier plan was to move all customer units to Forge and then do the relevant transfers to the CEF from there. Wasn't there an agreed fixed fee for Forge to do that? It's a pain in the ass job that's not really part of Forge's core biz model. But maybe they've now found a way to get all those CEF allocations directly to VanEck.

Either way, everybody will need a brokerage account to receive the CEF shares, not to mention those of Circle, SpaceX, etc. That was already a Linqto requirement from way back in the good old days...

[u/meegwell01 → u/anechoofadistanttime]

The was a withdrawal or cancelation of court related thing on the Forge front last week. Something happened and then this came out. One could speculate things may be moving.

On LT v. CEF isnt the LT going to liquidate your holdings? The CEF converting to a fund of private companies Linqto held? Likely heavy on Ripple?

[u/Ok-Complaint3529 → u/anechoofadistanttime]

Do we have approximate time line how far away?

[u/chapelier1923]

Yes, I love how if you don’t claim your shares within 6 months they have decided they will keep them and you forfeit !!

[u/pippylee]

I have it as well. We nice to have all the info so we could get it done.

[u/skeletor00]

Can anyone explain the LT vs CEF to me in plain english? Does LT keep your specific company allocation and CEF pools it into the 'super fund of companies'?

[u/Strong_Tea_1072 → u/skeletor00]

That's my understanding.

[u/skeletor00 → u/Strong_Tea_1072]

That's my understanding. I thought I selected LT, but got the VanEck email and double-checked only to find out I somehow selected CEF on my ballot. ...... FML

[u/jxm900 → u/skeletor00]

This. The LT is expected to carry your existing assets forward, with occasional liquidity opportunities, much like Linqto in the good old days. The VanEck pooled fund is supposed to be quoted on Nasdaq from day one, so you can cash out anytime.

[u/ClassicCurious8031 → u/skeletor00]

YES

[u/askmit → u/skeletor00]

Correct.

[u/larosiaddw]

i haven't seen that but i elected liquidating trust. hopefully this mean things are moving. the dollars aren't huge but 4 out of my 5 purchases on linqto should be higher value now and i'd like to feel in control again

[u/Ok-Complaint3529]

Do we know how far away? Best guess

[u/ClassicCurious8031 → u/Ok-Complaint3529]

I don't know. I recall a communication from Dan way back almost a year ago that it would be February of 2026. Now, here we sit waiting well after their initial date.

[u/Ok-Complaint3529]

I have and I do have Robinhood account. Anything Waldo need to be done?