Tue, Nov 12, 8:43 PM (97 days ago)
The VanEck Bitcoin ETF (HODL) reported significant growth in its quarterly financial results for the period ended September 30, 2024. The net asset value (NAV) surged to $759,377,653, marking a 24% increase from the previous quarter, driven by a rise in the number of outstanding shares from 8,775,000 to 10,600,000 and a 2.26% increase in the price of bitcoin. The NAV per share rose from $70.06 to $71.64. During the quarter, the ETF achieved a net increase in net assets of $15,911,468, attributed to unrealized gains of $11,414,566 and realized gains of $4,496,902 from bitcoin sales. The Trust incurred no expenses as the sponsor waived all fees. Over the nine-month period, NAV increased dramatically from $100,000 to $759,377,653, reflecting a 759,277% increase, primarily due to significant inflows and bitcoin price appreciation of 43.33%. The Trust remains exposed to bitcoin price volatility and regulatory risks, which could impact future performance. The management emphasizes that the ETF's objective is to mirror bitcoin price movements while managing operational expenses effectively.