Company: HODL
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0000930413-25-003438
Chunk: 168

Company: VanEck Bitcoin ETF
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 4
Chunk 168
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 private key.

    ●
    Digital asset networks are dependent upon the internet. A disruption
    of the internet, or major telecommunications and internet service providers, or a digital asset network, such as the Bitcoin
    network, could affect the ability to transfer digital assets, including bitcoin, and, consequently, could negatively impact
    their value. In addition, data center hosting and cloud services providers play a crucial role in the global Internet economy.
    Many of the Trust’s service providers conduct their business operations and processes using cloud providers and third-party
    data center hosting facilities, including Amazon Web Services, Google Cloud, Microsoft Azure, and other cloud services. In
    October 2025, news outlets reported that Amazon Web Services and Microsoft Azure both suffered significant service interruptions
    which caused disruptions to some of their cloud services customers. Any disruptions or failures of the Sponsor’s systems
    or the third-party hosting facility or cloud services that the Sponsor uses, or may use in the future, or of the Trust’s
    service providers’ systems or the third party hosting facilities or cloud services that they use, or may use in the
    future, including as a result of a natural disaster, fire, cyberattack, act of terrorism, geopolitical conflict, pandemic,
    the effects of climate change, or other catastrophic event, as well as power outages, service disruptions or interruptions,
    scheduled or unscheduled downtime, software or hardware defects, telecommunications infrastructure outages, a decision to
    close such facilities or cease providing such services, or other problems with the Sponsor’s or a Trust service provider’s
    systems or third-party data center hosting or cloud providers that the Sponsor or a Trust service provider uses, or may use
    in the future, such as a failure to meet service standards, could severely impact the Trust’s or Sponsor’s ability
    to conduct business operations, such as creation and redemption processes or deposits or withdrawals into the Trust’s
    custodial accounts, any of which could materially adversely affect the Trust’s operations or cause losses to the Trust’s
    Shareholders.

    ●
    Banks and other established financial institutions may refuse to process
    funds for bitcoin transactions; process wire transfers to or from bitcoin trading platforms, bitcoin-related companies or
    service providers; or maintain accounts for persons or entities transacting in bitcoin. This could dampen liquidity in the
    market and damage the public perception of digital assets generally or any one digital asset in particular, such as bitcoin,
    and their or