Here are the 10-K annual reports from VanEck Bitcoin ETF (HODL) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow HODL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HODL filings page.
VanEck Bitcoin ETF filed an amended annual report to correct the date on its independent auditor’s report, with the audit opinion itself unchanged. The filing also explains how the ETF tracks bitcoin’s price through shares backed by bitcoin held at third-party custodians.
As of December 31, 2025, the Trust reported net asset value of $1,382,273,990 and 55,900,000 Shares outstanding, following a 4-for-1 share split on February 14, 2025. As of February 28, 2026, Shares outstanding were 59,400,000, and non-affiliates held shares valued at about $1.57 billion as of June 30, 2025.
The ETF charges a unified Sponsor Fee of 0.20% of average daily net assets, but the Sponsor is waiving this fee on the first $2.5 billion of assets from November 25, 2025 through July 31, 2026. The report highlights that the Trust is a passive vehicle, does not hedge bitcoin volatility, and that bitcoin prices have shown extreme swings that could cause Shares to lose most or all of their value.