VanEck’s Spot Bitcoin ETF Recorded $109M Net Increase in Q1
A recent Securities and Exchange Commission filing sheds light on key financial details for the spot Bitcoin exchange-traded fund (ETF) HODL, which is managed by VanEck’s digital asset division.
For the first fiscal quarter ending March 31, 2024, the HODL ETF held 8,711 BTC, valued at approximately $619,067,103.
Over this period, the fund experienced a net asset increase of $109 million, as noted in the filing released on Monday.
Additionally, as of March 31, HODL reported total liabilities of $20 million and a net realized gain of $6 million from its Bitcoin investments.
By April 30, 2024, the fund had issued 8.2 million shares. The VanEck Bitcoin Trust, which trades under the ticker HODL, serves as an investment vehicle that allows investors to gain exposure to Bitcoin indirectly, without the need to directly hold the cryptocurrency.
