Company: HODL
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0000930413-25-001795
Chunk: 0

Company: VanEck Bitcoin ETF
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Item 1. Unaudited Financial Statements.

VANECK BITCOIN ETF

Statements of Assets and Liabilities

    March 31, 2025
    (Unaudited) 
    December 31,
    2024

    Assets 

    Investment in bitcoin, at fair value (cost $975,750,516 and $895,843,577, respectively) 
    $1,184,241,939  
    $1,280,450,332 

    Total assets 
     1,184,241,939  
     1,280,450,332 

    Liabilities 

    Total liabilities 
     —  
     — 

    Net assets 
    $1,184,241,939  
    $1,280,450,332 

    Shares issued and outstanding (no par value, unlimited amount authorized) 
     50,475,000  
     48,500,000 

    Net Asset Value per Share 
    $23.46  
    $26.40 

The accompanying notes are an integral part of
these financial statements.

1

VANECK BITCOIN ETF

Statements of Operations (Unaudited)

    Three Months
    EndedMarch 31,2025 
    Three Months
    EndedMarch 31,2024

    Expenses 

    Sponsor fee, related party 
    $658,254  
    $122,669 

    Total expenses 
     658,254  
     122,669 

    Sponsor fee waiver, related party 
     (658,254) 
     (59,098)

    Net expenses 
     —  
     63,571 

    Net investment loss 
     —  
     (63,571)

    Net
    realized gain and change in unrealized appreciation (depreciation) 

    Net realized gain on: 

    Bitcoin sold for redemption of shares 
     21,138,420  
     5,947,470 

    Bitcoin distributed for Sponsor fee, related party 
     —  
     10,977 

    Net realized gain on investments in bitcoin 
     21,138,420  
     5,958,447 

    Net change in unrealized appreciation (depreciation) from investments in bitcoin 
     (176,115