VanEck Bitcoin Trust reduces Creation Basket from 50k to 25k shares

VanEck Bitcoin ETF

On March 1, 2024, trust agreement amended to cut Creation Basket size from 50,000 to 25,000 shares.
Sponsor VanEck Digital Assets and Delaware Trust Company executed the Third Amended and Restated Declaration of Trust.
Amendment alters share creation/redemption block size for the HODL trust.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VanEck Bitcoin ETF entered into Third Amended and Restated Declaration of Trust and Trust Agreement with Delaware Trust Company (effective 2024-03-01).

Action: entry
Counterparty: Delaware Trust Company
Effective: 2024-03-01

Exact text from the filing

On March 1, 2024, VanEck Digital Assets, LLC (the “Sponsor”), sponsor of VanEck Bitcoin Trust (the “Trust”), and Delaware Trust Company, in its capacity as trustee of the Trust (the “Trustee”), entered into a Third Amended and Restated Declaration of Trust and Trust Agreement (the “Trust Agreement”) to reflect the change of the definition of the term “Creation Basket” from a block of 50,000 common shares of beneficial interest (“Shares”) to 25,000 Shares.

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VanEck Bitcoin ETF filing history →

Source: SEC EDGAR

accession 0000930413-24-000867

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