Company: HODL
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0000930413-25-000995
Chunk: 276

Company: VanEck Bitcoin ETF
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 276
---
 to 11/30/24

    2,600,000

    21.07

    12/01/24 to 12/31/24

    1,200,000

    27.26

    Total

    5,400,000

    $
    21.57

(a)Share,
                                            Per Share and Basket information above has been adjusted to reflect the 4 for 1 share split
                                            that occurred on February 14, 2025.

Purchases of Equity Securities by the Issuers and Affiliated Purchaser.

Not applicable.

Item 6. [Reserved]

Item 7. Management’s Discussion and Analysis of Financial Condition
and Results of Operations.

This information should be read in conjunction with the financial
statements and notes to financial statements included with this Report. The discussion and analysis that follows may contain statements

81

that relate to future events or future performance. In some cases,
such forward-looking statements can be identified by terminology such as “may,” “will,” “should,”
“could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,”
“predict,” “potential” or the negative of these terms or other comparable terminology. All statements (other than
statements of historical fact) included in this Report that address activities, events or developments that may occur in the future, including
such matters as changes in commodity prices and market conditions (for bitcoin and the Shares), the operations of the Trust, the plans
of the Sponsor and references to the Trust’s future success and other similar matters are forward-looking statements. These statements
are only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses
made by the Sponsor on the basis of its perception of historical trends, current conditions and expected future developments, as well
as other factors it believes are appropriate in the circumstances. Whether or not actual results and developments will conform to the
Sponsor’s expectations and predictions is subject to a number of risks and uncertainties, including the special considerations discussed
in this Report, general economic, market and business conditions, changes in laws or regulations, including those concerning taxes, made
by governmental authorities or regulatory bodies, and other world economic and political developments. Consequently, all the forward-looking
statements made in this Report are qualified by these cautionary statements, and there can be no assurance that the actual results or
developments the Sponsor anticipates will be realized or, even