Company: HODL
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0000930413-25-000995
Chunk: 328

Company: VanEck Bitcoin ETF
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1C
Chunk 328
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Item 1C. Cybersecurity.

Risk Management, Strategy and Governance

The Trust has no employees or internal information
systems and is managed by the Sponsor. Thus, the Trust relies on the Sponsor and VanEck, the parent company of the Sponsor, as well as
the Bitcoin Custodian and Additional Bitcoin Custodian and other service providers to protect the Trust’s information from cybersecurity
threats. VanEck has policies, standards, and procedures on information security (the “Cybersecurity Documents”). The Cybersecurity
Documents govern the procurement, use, storage, protection and permissions of data systems, applications and devices.  The Cybersecurity
Documents outline the correct usage of elements

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and tasks on the networks/infrastructure to
ensure safe operation, high availability, performance, and data accuracy.

VanEck has adopted the National Institute of
Standards and Technology’s (“NIST”) cybersecurity framework as its security outline. The program is reviewed annually.
Using the NIST framework as a guide, VanEck’s cybersecurity program is organized around the following program domains:

●Identify critical assets, data, systems and capabilities, cybersecurity strategy and governing elements, threats and cybersecurity
risks

●Protect assets (data, systems, networks, personnel, etc.) from external or internal malicious actors and failed practices

●Detect anomalies and security events through environments monitoring, analysis, remediation, and reporting. Engage outside vendors
to periodically test the network infrastructure and software applications against known vulnerabilities and to ensure the use of a best
practice security program

●Respond to incidents regardless of source or causality

●Recover through planning, improvements and communications (external and internal)

●Conduct after-action evaluation to identify what went well, what did not go well and improve VanEck systems on the back of an issue

VanEck employs third-party firms to assess its
cybersecurity posture, conduct penetration testing, and forensic analysis.

VanEck maintains a risk-based approach to identifying
and overseeing cybersecurity risks presented by third parties, including vendors, service providers, counterparties and clients, as well
as the systems of third parties that could significantly and adversely impact VanEck’s business in the event of a cybersecurity
incident affecting those third-party systems. Third-party risks are included within VanEck’s NIST framework, and risk identification
and mitigation are supported by VanEck’s cybersecurity program. VanEck also performs diligence on certain third parties and monitors
cybersecurity threats and risks identified through such