---
schema_version: "secwatch.filing_event.v1"
accession: "0001838028-25-000020"
form_type: "8-K"
ticker: "HODL"
cik: "0001838028"
company_name: "VanEck Bitcoin ETF"
filed_at: "2025-11-20T23:59:59+00:00"
generated_at: "2026-05-16T18:10:53.054421+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# VanEck Bitcoin ETF amends AP agreement to allow in-kind creation/redemption

## Summary
- Amended Form of Authorized Participant Agreement effective Nov 20, 2025 adds in-kind creation/redemption alternative to cash process.
- In-kind process allows Authorized Participants to deliver Bitcoin directly to the Trust for Baskets.
- Trust retains right to reject orders not in proper form or if unlawful; Sponsor may suspend redemptions under certain conditions.
- Authorized Participant must be a DTC participant and comply with AML, sanctions, and broker-dealer requirements.
- Transaction fee applies per Basket; fee changes require advance notice to Authorized Participants.

## SEC filing metadata
- accession: 0001838028-25-000020
- form_type: 8-K
- ticker: HODL
- cik: 0001838028
- company_name: VanEck Bitcoin ETF
- filed_at: 2025-11-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1838028/000183802825000020/0001838028-25-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1838028/000183802825000020/hodl-20251120.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001838028-25-000020
- JSON: https://secwatch.observer/filing/0001838028-25-000020.json
- Plain text: https://secwatch.observer/filing/0001838028-25-000020.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.