Van Eck Bitcoin BTC
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Trust (HODL) is a spot Bitcoin exchange-traded fund (ETF) from investment manager VanEck. First authorized 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?
Spot Bitcoin ETFs hold Bitcoin and track prices on cryptocurrency exchanges in real time. This provides investors with a way to invest in Bitcoin through a stock exchange without having to purchase, hold, or own the underlying digital asset.
What is VanEck, the publisher of HODL?
VanEck is an investment management company that offers a variety of investment products, including ETFs, mutual funds, and other investment strategies. The firm is known for its expertise in a variety of asset classes, including stocks, bonds, commodities, and alternative investments. VanEck has been active in the cryptocurrency space, particularly in proposing a Bitcoin ETF with the U.S. Securities and Exchange Commission.
What fees does HODL charge?
HODL has waived sponsor fees from March 12, 2024 to March 31, 2025, or until fund assets exceed $1.5 billion. Afterwards, HODL’s sponsor fee will be 0.20%.
How is VanEck’s fund different from other spot Bitcoin ETFs?
HODL is one of three spot Bitcoin ETFs that does not currently employ Coinbase Custody Trust LLC as a cryptocurrency custodian, joining Hashdex’s DEFI and Valkyrie’s BRRR.
Valkyrie and Hashdex use BitGo, a cryptocurrency management and financial services company, while VanEck’s HODL uses the popular cryptocurrency company founded by the Winklevoss twins.
How does VanEck store Bitcoin?
Gemini Trust Company is a company that manages HODL’s Bitcoin.
Commonly known as Gemini, the company is a cryptocurrency exchange and custodian founded in 2014 by Cameron and Tyler Winklevoss. Gemini is a trust company regulated by the New York State Department of Financial Services (NYSDFS). Gemini provides a platform to buy, sell, and store a variety of cryptocurrencies, including Bitcoin, Ethereum, and more.
Is VanEck’s Bitcoin address public?
VanEck has not officially disclosed HODL’s Bitcoin address. However, cryptocurrency data tracking firm Arkham Intelligence discovered HODL’s address along with the addresses of other spot Bitcoin ETFs.
Disclaimer: This article was written with the help of OpenAI’s ChatGPT 3.5/4 and has been reviewed and edited by our editorial team.
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