- ISIN
- US92189K1051
- CUSIP
- 92189K105
- Issuer
- VanEck
- Inception Date
- Jan 4, 2024
- Category
- Cryptocurrency
- Leveraged
- 1x (No leverage)
- Index Tracked
- CME CF Bitcoin Reference Rate - New York Variant
- Distribution Policy
- Accumulating
- Asset Class
- Cryptocurrency
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $1B
Highlights
- Avg. Volume (1M)
- 961K
- Avg. Volume Value (1M)
- $17.34M
Share Price Chart
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Performance
HODL Performance Chart
VanEck Bitcoin Trust (HODL) is down 28.1% since the beginning of the year. HODL is currently trading at $18 per share.
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Returns By Period
VanEck Bitcoin Trust (HODL) has returned -28.10% so far this year and -44.45% over the past 12 months.
VanEck Bitcoin Trust
- 1D
- -2.89%
- 1M
- 2.36%
- 6M
- -24.98%
- YTD
- -28.10%
- 1Y
- -44.45%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.44%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
HODL Monthly Returns History
Based on dividend-adjusted daily data since Jan 11, 2024, HODL's average daily return is +0.09%, while the average monthly return is +1.90%. At this rate, an investment would double in approximately 3.1 years.
Historically, 52% of months were positive and 48% were negative. The best month was Feb 2024 with a return of +45.8%, while the worst month was Feb 2026 at -21.7%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 5 months.
On a daily basis, HODL closed higher 49% of trading days. The best single day was Nov 11, 2024 with a return of +13.5%, while the worst single day was Aug 5, 2024 at -14.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.16% | -21.73% | 3.29% | 12.73% | -3.89% | -19.99% | 7.04% | -28.10% | |||||
| 2025 | 8.62% | -17.09% | -2.06% | 14.24% | 11.15% | 2.94% | 8.43% | -7.35% | 5.75% | -4.14% | -17.34% | -3.59% | -6.42% |
| 2024 | -12.74% | 45.78% | 14.41% | -16.82% | 14.50% | -11.30% | 8.83% | -10.18% | 8.28% | 10.20% | 38.68% | -3.71% | 91.50% |
Benchmark Metrics
VanEck Bitcoin Trust has an annualized alpha of -2.60%, beta of 1.31, and R2 of 0.17 versus S&P 500 Index. Calculated based on daily prices since January 11, 2024.
- This ETF participated in 215.37% of S&P 500 Index downside but only 133.29% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.17 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -2.60%
- Beta
- 1.31
- R²
- 0.17
- Upside Capture
- 133.29%
- Downside Capture
- 215.37%
Expense Ratio
HODL has an expense ratio of 0.25%, which is considered low.
Return for Risk
Risk / Return Rank
HODL ranks 2 for risk / return — above 2% of ETFs peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for VanEck Bitcoin Trust (HODL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HODL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -3.56 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.25 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 2.00 | -2.87 |
| Martin ratioReturn relative to average drawdown | -1.34 | 8.49 | -9.83 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the VanEck Bitcoin Trust. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the VanEck Bitcoin Trust was 53.20%, occurring on Jun 30, 2026. The portfolio has not yet recovered.
The current VanEck Bitcoin Trust drawdown is 49.90%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-53.20%Jun 2026 | 8mo 26d | — | 10moOct 2025 - now | — |
-28.07%Apr 2025 | 3mo 21d | 1mo 12d | 5mo 3dDec 2024 - May 2025 | 2025 selloff2025 |
-27.51%Sep 2024 | 5mo 26d | 2mo 1d | 7mo 27dMar 2024 - Nov 2024 | — |
-19.55%Jan 2024 | 12d | 20d | 1mo 2dJan 2024 - Feb 2024 | — |
-11.96%Aug 2025 | 15d | 1mo 8d | 1mo 23dAug 2025 - Oct 2025 | — |
Drawdown Indicators
| HODL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.20% | -56.78% | +3.58% |
Max Drawdown (1Y)Largest decline over 1 year | -53.20% | -9.10% | -44.10% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -49.90% | -1.58% | -48.32% |
Average DrawdownAverage peak-to-trough decline | -18.17% | -10.70% | -7.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.56% | 2.14% | +32.42% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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