VanEck Bitcoin ETF (HODL) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HODL SEC filings page.
This page shows VanEck Bitcoin ETF (HODL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The reported structure is asset-heavy but lightly liability-funded, with returns swinging sharply while revenue and cash conversion remain unreported.
Between FY2024 and FY2025, reported net income moved from$419M to-$194M even as total assets increased, indicating that the earnings change was not driven by a shrinking asset base. Return metrics reversed with earnings: ROA fell from32.7% to-14.0% and ROE from48.6% to-16.8% , showing that the reported asset and equity bases did not produce stable accounting returns across periods.
Total liabilities dropped from
Shares outstanding increased from 50.2M to 59.4M, while revenue, operating cash flow, and free cash flow are not reported. That combination leaves the filing useful for assessing balance-sheet posture and reported returns, but insufficient for judging operating economics or whether accounting results convert into cash.
Financial Health Signals
VanEck Bitcoin ETF does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The metrics below are current.
Key Financial Metrics
Earnings & Revenue
VanEck Bitcoin ETF reported -$148.2M in net income in Q2 2026. This represents a decrease of 142.5% from the same quarter a year earlier. Against the prior quarter it is up 52.2%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
VanEck Bitcoin ETF held $0 in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
VanEck Bitcoin ETF's ROE was -12.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 45.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 12.5 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
HODL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
HODL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $958.8M-42.9% | $1.2B-2.2% | $1.4B+8.5% | $1.7B | $1.2B+85.3% | $1.3B+1280350.3% | $639.1M | $100K |
| Cash & Equivalents | $0 | $0 | $0 | $0 | N/A | $0-100.0% | N/A | $100K |
| Short-Term Investments | $0 | $0 | $0 | $0 | N/A | $0 | N/A | $0 |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | $20.0M | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | N/A | $0 | N/A | $0 |
| Total Liabilities | $0-100.0% | $0-100.0% | $6.8M-98.4% | $612.3M | $264.0M+1217.6% | $419.0M | $20.0M | $0 |
| Total Equity | $1.2B+11.7% | $1.2B+35.1% | $1.2B+34.3% | $1.1B | $920.3M+48.7% | $861.5M+861381.9% | $619.1M | $100K |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.
HODL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Asset Turnover, FCF Margin.
Where VanEck Bitcoin ETF Ranks
Frequently Asked Questions
Is VanEck Bitcoin ETF profitable?
No, VanEck Bitcoin ETF (HODL) reported a net income of -$194.0M in fiscal year 2025.
What is VanEck Bitcoin ETF's return on equity (ROE)?
VanEck Bitcoin ETF (HODL) has a return on equity of -16.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What are VanEck Bitcoin ETF's total assets?
VanEck Bitcoin ETF (HODL) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What is VanEck Bitcoin ETF's debt-to-equity ratio?
VanEck Bitcoin ETF (HODL) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is VanEck Bitcoin ETF's return on assets (ROA)?
VanEck Bitcoin ETF (HODL) had a return on assets of -14.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.