Company: HODL
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0000930413-25-000995
Chunk: 137

Company: VanEck Bitcoin ETF
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1
Chunk 137
---
 thereafter throughout the duration of the action, suit or proceeding. This may be difficult and may result in increased
costs to a Shareholder attempting to seek redress in the name of the Trust in court. Moreover, if Shareholders bringing a derivative action,
suit or proceeding pursuant to this provision of the Trust Agreement do not hold 10% of the outstanding Shares on the date such an action,
suit or proceeding is brought, or such Shareholders are unable to maintain Share ownership meeting the 10% threshold throughout the duration
of the action, suit or proceeding, such Shareholders’ derivative action may be subject to dismissal. As a result, the Trust Agreement
limits the likelihood that a Shareholder will be able to successfully assert a derivative action in the name of the Trust, even if such
Shareholder believes that he or she has a valid derivative action, suit or other proceeding to bring on behalf of the Trust.

The non-exclusive jurisdiction for certain types
of actions and proceedings and waiver of trial by jury clauses set forth in the Trust Agreement may have the effect of limiting a Shareholder’s
rights to bring legal action against the Trust and could limit a purchaser’s ability to obtain a favorable judicial forum for disputes
with the Trust.

The Trust Agreement provides that the courts of
the state of Delaware and any federal courts located in Wilmington, Delaware will be the non-exclusive jurisdiction for any claims, suits,
actions or proceedings, provided that suits brought to enforce a duty or liability created by the 1933 Act, the Exchange Act or any other
claim for which the federal courts have exclusive jurisdiction and the federal district courts of the United States of America shall be
the exclusive forum for the resolution of any complaint asserting a cause of action arising under the 1933 Act, the Exchange Act, or the
rules and regulations promulgated thereunder. By purchasing Shares in the Trust, Shareholders waive certain claims that the courts of
the state of Delaware and any federal courts located in Wilmington, Delaware is an inconvenient venue or is

76

otherwise inappropriate. As such, Shareholder could
be required to litigate a matter relating to the Trust in a Delaware court, even if that court may otherwise be inconvenient for the Shareholder.

The Trust Agreement also waives the right to trial
by jury in any such claim, suit, action or proceeding, including any claim under the U.S. federal securities laws, to the fullest extent
permitted by applicable law. If a lawsuit is brought against the Trust, it may be heard