About VanEck Bitcoin ETF
VanEck Bitcoin ETF trades under HODL and holds bitcoin in a trust. Its stated objective is to reflect bitcoin's price after the expenses of operating the trust. VanEck describes the product as a passive vehicle, so the objective is tracking rather than generating additional returns from an active selection of securities. Shareholders can buy and sell the listed security through a broker. The bitcoin belongs to the trust and is held through its custody arrangements; the share itself does not function as bitcoin that an investor can transfer to a personal network address. [issuer] [prospectus]
VanEck Digital Assets, LLC is the sponsor, and Van Eck Securities Corporation is the marketing agent identified in the product documents. The sponsor oversees the trust and its service arrangements. The trust's more recent financial report identifies State Street Bank and Trust Company as administrator, transfer agent and cash custodian. These functions support the listed shares even though the underlying investment is a single digital asset. The prospectus and its supplements explain the bitcoin custody roles and operating terms in more detail, including changes that may not appear in an older factsheet. [quarterly] [prospectus] [factsheet]
HODL uses the MarketVector Bitcoin Benchmark Rate in its valuation framework. A December 2025 supplement records a change to the trading platforms contributing to that index. A benchmark change is distinct from a change in the amount of bitcoin held, so both the reference price and the holdings need their own dates. VanEck's product page also notes a difference between total assets held in custody and accounting figures net of accrued expenses. Its market price, net asset value, bitcoin quantity and shares outstanding therefore should not be treated as interchangeable measures of the same balance. [supplement] [issuer]
The SEC archive shown here follows HODL's verified CIK and keeps documents filed under the product's earlier VanEck Bitcoin Trust name as part of that history. Filing dates and report dates identify those differences. VanEck states that HODL is not an investment company registered under the Investment Company Act of 1940 and that bitcoin price movements can produce substantial losses. Institutional holdings records are separately dated reports of shares, rather than a live register of every HODL investor. [prospectus]
Fund explanation reviewed 2026-10-15. Filing checks do not change this editorial review date.