Company: HODL
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0000930413-25-000995
Chunk: 14

Company: VanEck Bitcoin ETF
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1
Chunk 14
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 certain additional services as may be agreed to between the Trust and the Additional Bitcoin Custodian from time to time.

The Trustee

The Trustee, a Delaware trust company, acts as the trustee of the
Trust for the purpose of creating a Delaware statutory trust in accordance with the Delaware Statutory Trust Act (“DSTA”).
The Trustee is appointed to serve as the trustee of the Trust in the State of Delaware for the sole purpose of satisfying the requirement
of Section 3807(a) of the DSTA that the Trust have at least one trustee with a principal place of business in the State of Delaware.

General Duty of Care of Trustee

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The Trustee is a fiduciary under the Trust Agreement;
provided, however, that the fiduciary duties and responsibilities and liabilities of the Trustee are limited by, and are only those
specifically set forth in, the Trust Agreement.

Resignation, Discharge or Removal of Trustee;
Successor Trustees

The Trustee may resign upon at least 60 days’
prior written notice to the Sponsor; provided, however, that such resignation shall not be effective until such time as a successor
Trustee has accepted such appointment. The Sponsor may remove the Trustee at any time upon 60 days’ prior written notice
to the

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Trustee; provided, however, that such removal shall not be effective
until such time as a successor Trustee has accepted such appointment.

Upon the resignation or removal of the Trustee, the Sponsor shall
appoint a successor Trustee. If no successor Trustee shall have been appointed and shall have accepted such appointment within
60 days after the giving of such notice of resignation or removal, the Trustee may petition any court of competent jurisdiction
for the appointment of a successor Trustee. Any successor Trustee appointed pursuant to the Trust Agreement shall be eligible to
act in such capacity in accordance with the Trust Agreement and, following compliance with the Trust Agreement, shall become fully
vested with the rights, powers, duties and obligations of its predecessor under the Trust Agreement, with like effect as if originally
named as Trustee. Any such successor Trustee shall notify the Trustee of its appointment by providing a written instrument to the
Trustee. At such time the Trustee shall be discharged of its duties herein. Any corporation into which the Trustee may be merged
or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to
which such Trust