Company: HODL
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0000930413-25-000995
Chunk: 384

Company: VanEck Bitcoin ETF
Filing Date: 2025-03-26
Form: 10-K
Item: Item 3
Chunk 384
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Item 9A. Controls and Procedures.

Disclosure Controls and Procedures

The duly authorized officers of the Sponsor performing functions equivalent
to those a principal executive officer and principal financial officer of the Trust would perform if the Trust had any officers have evaluated
the effectiveness of the Trust’s disclosure controls and procedures, and have concluded that the disclosure controls and procedures
of the Trust

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were effective as of the end of the period covered by this Report to
provide reasonable assurance that information required to be disclosed in the reports that

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the Trust files or submits under the Securities Exchange Act of 1934,
as amended, is recorded, processed, summarized and reported, within the time periods specified in the applicable rules and forms, and
that it is accumulated and communicated to the duly authorized officers of the Sponsor performing functions equivalent to those a principal
executive officer and principal financial officer of the Trust would perform if the Trust had any officers, as appropriate to allow timely
decisions regarding required disclosure.

There are inherent limitations to the effectiveness of any system of
disclosure controls and procedures, including the possibility of human error and the circumvention or overriding of the controls and procedures.

Management’s Report on Internal Control over Financial
Reporting

The Sponsor’s management is responsible for establishing and maintaining
adequate internal control over financial reporting, as defined under Exchange Act Rules 13a-15(f) and 15d-15(f). The Trust’s internal
control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with GAAP. Internal control over financial reporting includes
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