- In the first fiscal quarter of 2024, VanEck’s spot bitcoin ETF, HODL, recorded a $109 million gain in net assets.
- According to the fund, it has 8,711 Bitcoin, which is around $620,000 million.
- As of March 31, HODL’s bitcoin investment showed $20 million in total liabilities and a $6 million net realized gain.
Key data for the spot bitcoin exchange-traded fund (ETF) HODL, issued by the digital asset division of investment management VanEck, is revealed in a recent filing with the Securities and Exchange Commission.
According to the Monday report, HODL’s investment in bitcoin for the first fiscal quarter ended March 31, 2024, was 8,711 BTC, or $619,067,103. The fund’s net assets increased by $109 million.
In addition, as of March 31, HODL reported $20 million in total liabilities, $6 million in net realized gain on its bitcoin investment, and 8.2 million shares as of April 30, 2024.
Investors can gain exposure to bitcoin through the VanEck Bitcoin Trust, also known by its ticker HODL, without actually having to possess the cryptocurrency. The fund is sponsored by VanEck Digital Assets LLC. The shares of HODL are traded on the Cboe BZX stock exchange.
On January 10, 2024, the SEC approved VanEck’s HODL along with ten other spot bitcoin exchange-traded funds. On May 10, HODL brought in $8.1 million in volume.
VanEck also revealed that the overall cost of their sponsor fee came to about $123,000.
According to VanEck’s filing, the Trust pays the Sponsor a monthly uniform charge equal to 0.20% of net assets, which is accrued daily. Before February 21, 2024, 0.25% was the Sponsor fee. The Sponsor agreed to waive the full Sponsor Fee for the first $1.5 billion of the Trust’s net assets, with effect from March 12, 2024, to March 31, 2025.
The day before the change in sponsor fees took effect, on February 20, it witnessed a 1,000% increase in its daily trading volume, from about 32,000 individual trades to $300 million.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
