Company: HODL
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0000930413-25-000995
Chunk: 149

Company: VanEck Bitcoin ETF
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1
Chunk 149
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those policies and procedures that: (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect
the transactions and dispositions of the Trust’s assets, (2) provide reasonable assurance that transactions are recorded as necessary
to permit preparation of financial statements in accordance GAAP, and that the Trust’s receipts and expenditures are being made
only in accordance with appropriate authorizations; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of the Trust’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject
to the risk that controls may become ineffective because of changes in conditions, or that the degree of compliance with the policies
or procedures may deteriorate.

The Principal Executive Officer and Principal Financial and Accounting
Officer of the Sponsor assessed the effectiveness of the Trust’s internal control over financial reporting as of December 31, 2024.
In making this assessment, they used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO)
in Internal Control—Integrated Framework (2013). Their assessment included an evaluation of the design of the Trust’s internal
control over financial reporting and testing of the operational effectiveness of its internal control over financial reporting. Based
on their assessment and those criteria, the Principal Executive Officer and Principal Financial and Accounting Officer of the Sponsor
concluded that the Trust maintained effective internal control over financial reporting as of December 31, 2024.

Changes in Internal Control over Financial Reporting

There were no changes in the Trust’s internal control over financial
reporting that occurred during the Trust’s fourth fiscal quarter of the period covered by this report that have materially affected,
or are reasonably likely to materially affect, the Trust’s internal control over financial reporting.

Item 9B. Other Information.

Not applicable.

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent
Inspections.

Not applicable.

PART III

Item 10. Directors, Executive Officers and Corporate Governance.

The Trust does not have any directors, officers or employees. The creation
and operation of the Trust has been arranged by the Sponsor. The Sponsor is not governed by a board of directors. The following persons,
in their respective capacities as executive officers of the Sponsor perform certain functions with respect to the Trust that, if the Trust