Company: HODL
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0000930413-25-000995
Chunk: 670

Company: VanEck Bitcoin ETF
Filing Date: 2025-03-26
Form: 10-K
Item: Item 12
Chunk 670
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    $100,000 

    Shares issued and outstanding (no par value, unlimited amount authorized) 
     48,500,000  
     8,000 

    Net Asset Value per Share 
    $26.40  
    $12.50 

 (a) Shares issued and outstanding and the Net Asset Value per Share have been adjusted to reflect the 4 for 1 share split that took place on February 14, 2025.

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

F-3

VANECK BITCOIN ETF

Statements of Operations

    Year Ended December 31, 2024  
    For the Period December 21, 2023 (Date of Seeding)
    to December 31, 2023 

    Expenses 

    Sponsor fee, related party 
    $1,323,357  
    $— 

    Total expenses 
     1,323,357  
     — 

    Sponsor fee waiver, related party 
     (1,259,786)  
     — 

    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 
     34,414,287  
     — 

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

    Net realized gain on investments in bitcoin 
     34,425,264  
     — 

    Net change in unrealized appreciation (depreciation) on investments in bitcoin 
     384,606,755  
     — 

    Net realized gain and change in unrealized appreciation (depreciation) 
     419,032,019  
     — 

    Net increase in net assets resulting from operations 
    $418,968,448  
    $— 

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

F-4

VANECK BITCOIN ETF

Statements of Changes in Net Assets

    Year Ended December 31, 2024  
    For the Period December 21, 2023 (Date of Seeding)
    to December