The VanEck Bitcoin BTC -1.70%Trust (HODL) is a spot bitcoin exchange-traded fund (ETF) from the investment manager VanEck. Initially approved in January 2024, HODL is listed on the Chicago Board Options Exchange (CBOE). Users can purchase shares of the fund through a traditional brokerage account.
What is a spot bitcoin ETF?
A spot bitcoin ETF holds bitcoin and tracks its price on cryptocurrency exchanges in real-time. This provides investors with a way to invest in bitcoin through stock exchanges without needing to buy, hold or own the underlying digital asset.
What is HODL’s issuer VanEck?
VanEck is an investment management firm that offers a range of investment products, including ETFs, mutual funds and other investment strategies. The company is known for its expertise in various asset classes, including equities, fixed income, commodities and alternative investments. VanEck has been active in the cryptocurrency space, particularly in proposing Bitcoin ETFs to the U.S. Securities and Exchange Commission.
What fee does HODL charge?
HODL waived its sponsor fee between March 12, 2024, and March 31, 2025, or until the fund surpasses $1.5 billion in assets. After that, HODL’s sponsor fee will be 0.20%.
How does VanEck’s fund differ from other spot bitcoin ETFs?
HODL joins Hashdex’s DEFI and Valkyrie’s BRRR as one of the three spot bitcoin ETFs currently live that does not employ Coinbase Custody Trust LLC as their crypto custodian.
While Valkyrie and Hashdex use BitGo, the crypto custody and financial services firm, VanEck’s HODL uses the popular crypto firm founded by the Winklevoss twins.
How does VanEck custody its bitcoin?
Gemini Trust Company is the custodian of HODL’s bitcoin.
Commonly known as Gemini, the firm is a cryptocurrency exchange and custodian founded in 2014 by Cameron and Tyler Winklevoss. Gemini is regulated by the New York State Department of Financial Services (NYSDFS) and is a trust company. Gemini provides a platform for buying, selling and storing various cryptocurrencies, including bitcoin, ether and others.
Are VanEck’s Bitcoin addresses public?
VanEck has not officially disclosed HODL’s bitcoin addresses. However, the crypto data tracking firm Arkham Intelligence found HODL’s addresses along with that of other spot bitcoin ETFs.
