VanEck Bitcoin ETN (VBTC)

VBTC

VanEck
Bitcoin ETN

31 March 2024

Product Details

Base Currency	USD
Inception Date	19 November 2020
Domicile	Liechtenstein
Net Assets	$471.6M
Notes Outstanding	12,385,000
Total Expense Ratio	1.00%
Product Structure	Physical (Full Replication)
UCITS Compliant	No
UCITS Eligible	Yes*
Distribution Frequency	None
Income Treatment	Reinvestment
Swiss Valor	58450415
ISA Eligibility	n/a
SIPP Available	n/a
Countries of Registration	AT, CH, DE, DK, ES, FI, FR, IT, LI, LU, NL, NO, PL, PT, SE

^* This might be seen differently by local regulators in single EU member states and the fund manager is recommended to verify this.

Index Information

Index Provider	MarketVector Indexes GmbH
Index Type	Price
Currency	USD
Inception Date	31 Dec 2014
Bloomberg Ticker	MVBTCV
Reuters Ticker	.MVBTCV

Product Data

Number of Holdings	1
Weighted Avg. MCap	USD 1364.4B

* Last 12 Months

PRODUCT DESCRIPTION

The VanEck Bitcoin ETN is a fully-collateralized exchange traded note that invests in bitcoin. The note seeks to replicate the value and yield performance of the MarketVector Bitcoin VWAP Close Index (MVBTCV Index).

Direct access to the biggest and most liquid cryptocurrency, bitcoin
100% backed by bitcoin and stored in cold storage at a regulated crypto custodian with crypto insurance (up to a limited amount)
Tradeable like an ETF on Deutsche Börse Xetra

Performance History (%)

Month End as of 31 Mar 2024	1 MO	YTD	1 YR	3 YR	5 YR	ETN INCEPTION
VBTC (NAV)	11.85	66.03	146.61	5.44	--	48.65
MVBTCV (Index)	11.94	66.43	149.06	6.50	76.68	50.25

Past performance does not predict future returns.

Periods greater than one year are annualised.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance.

Investment returns will fluctuate so that investors’ notes, when redeemed, may be worth more or less than their original cost. ETN returns assume that any capital gains have been reinvested. An index’s performance is not illustrative of the ETNs’s performance. Indices are not securities in which investments can be made.

The ETN value is determined at 4:00 PM CET of each business day, and represents the dollar value of one note; it is calculated by taking the total assets linked to the ETN, subtracting total liabilities, and dividing by the total number of notes outstanding. The value is not necessarily the same as the ETNs’ intraday trading price. Investors should not expect to buy or sell the ETN at the determined value. Please see the reverse side for important disclaimers.

VBTC

VanEck
Bitcoin ETN

31 March 2024

Trading Information

EXCHANGE	TRADING CURRENCY	ISIN	EXCHANGE TICKER	BLOOMBERG TICKER	REUTERS TICKER	SEDOL	IOPV SYMBOL
DEUTSCHE BÖRSE	EUR	DE000A28M8D0	VBTC	VBTC GY	VBTC1.DE	BMHSTC5	VBTCIV
SIX SWISS EXCHANGE	CHF	DE000A28M8D0	VBTCCHF	VBTCCHF SE	VBTCCHF.S	BM90K59	VBTCIV
EURONEXT AMSTERDAM	USD	DE000A28M8D0	VBTC	VBTC NA	VBTC1.AS	BMZ5KP8	VBTCIV
EURONEXT PARIS	EUR	DE000A28M8D0	VBTC	VBTC FP	VBTC1.PA	BMZ5KQ9	VBTCIV

Important Disclosures

For informational and advertising purposes only.

VanEck only serves professional clients and no semi-professional or retail investors in countries where the ETNs are registered for public distribution or where the ETNs can be sold in accordance with local private placement rules.

Please note that the information herein may change at any time; current data may differ from data quoted. It is not intended to be a forecast of future results or a comprehensive statement of all of the factors or considerations which may be relevant to an investment. Current market conditions may not continue. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck. © 2020 VanEck.

This document is for illustrative purposes to Investors and their investment consultants and does not constitute legal, tax, or investment advice. You must therefore not rely on the content of this document when making any investment decisions. Any investment decision should be made on the basis of an understanding of the prospectus and the key information document (“KID”), which is available at www.vaneck.com and VanEck (Europe) GmbH at its registered office at Kreuznacher Straße 30, 60486 Frankfurt am Main, Germany. Please read these documents before investing and take note of the risk factors. Note: no guarantee can be provided that the ETN will attain its objective. The value of an investment may decline as well as increase. All persons interested in investing in the ETN are recommended to seek advice from independent legal and tax advisors in order to ascertain whether the investment is appropriate to their own objectives.

You can lose money by investing in the ETN. Any investment in the ETN should be part of an overall investment program. An investment in the ETN may be subject to risks which include, among others, material transaction cost from rebalancing activity and fluctuations in the value of digital assets held by the issuer of the ETN due to market and economic conditions or factors relating to specific issuers. Certain digital assets may be more volatile than others. Please see the prospectus and key information document for information on these as well as other risk considerations.

The IOPV is calculated by Solactive AG.

VanEck Vectors Morningstar US Wide Moat UCITS ETF (the Fund) is a sub-fund of VanEck Vectors UCITS ETFs plc. (the Umbrella Fund), organised under the laws of Ireland. This document is for illustrative purposes to Investors and their investment consultants and does not constitute legal, tax, or investment advice. You must therefore not rely on the content of this document when making any investment decisions. Any investment decision should be made on the basis of an understanding of the prospectus and the key investor information document (“KIID”), which is available at www.vaneck.com/etf-europe/ and VanEck Investments Limited at its registered office at 25-28 North Wall Quay, Dublin 1, Ireland. Please read these documents before investing and take note of the risk factors. Note: no guarantee can be provided that the Fund will attain its objective. The value of an investment may decline as well as increase. Nothing contained herein constitutes investment, tax or legal advice. All persons interested in investing in the Fund are recommended to seek advice from independent legal and tax advisors in order to ascertain whether the investment is appropriate to their own objectives.

Morningstar® Wide Moat Focus Index^TM is a trade mark of Morningstar inc. and has been licensed for use for certain purposes by VanEck. VanEck Vectors Morningstar US Wide Moat UCITS ETF is not sponsored, endorsed, sold or promoted by Morningstar and Morningstar makes no representation regarding the advisability in VanEck Vectors Morningstar US Wide Moat UCITS ETF.

Please note that the information herein may change at any time; current data may differ from data quoted. It is not intended to be a forecast of future results, a comprehensive statement of all of the factors or considerations which may be relevant to an investment. Current market conditions may not continue. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck. ©2016 VanEck.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. An investment in the Fund may be subject to product specific risks. These may negatively impact the Fund’s return. All risks are described in detail in the Prospectus and KIID.

The IOPV is calculated by Solactive AG.

No invitation to offer, or offer for, or sale of, the shares of any fund mentioned herein will be made to the People’s Republic of China (“PRC”) (which, for such purposes, does not include the Hong Kong or Macau Special Administrative Regions or Taiwan) or by any means that would be deemed public under the Laws of the PRC. The information relating to any fund mentioned herein has not been submitted to or approved by the China Securities Regulatory Commission or other relevant governmental authorities in the PRC. Such funds may only be offered or sold to investors in the PRC that are expressly authorized under the laws and regulations of the PRC to buy and sell securities denominated in foreign exchange. Potential investors resident in the PRC are responsible for obtaining all relevant approvals from the government authorities of the PRC, including but not limited to the State Administration of Foreign Exchange, before purchasing the shares. This document further does not constitute any securities or investment advice to citizens of the PRC, or nationals with permanent residence in the PRC, or to any corporation, partnership, or other entity incorporated or established in the PRC.

This material does not constitute an offer to sell or solicitation to buy any security, including shares of any Fund. An offer or solicitation will be made only through a Fund’s prospectus or summary prospectus and will be subject to the terms and conditions contained therein. This material and the information provided herein are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of (or located or established in) any jurisdiction where the distribution of these materials and/or the purchase or sale of interests of a Fund would be contrary to applicable law or regulation or would subject a Fund to any registration or licensing requirement in such jurisdiction. Persons who wish to review this material are required to inform themselves about and to observe any legal or regulatory restrictions which may affect their eligibility to make an investment in a Fund.

Fund shares are not individually redeemable and will be issued and redeemed at their net asset value (NAV) only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading fund shares in the secondary market. Past performance is no guarantee of future results. Returns for an actual fund’s investments may differ from what is shown because of differences in timing, the amount invested and fees and expenses.

Morningstar® Wide Moat Focus IndexTM is a trade mark of Morningstar inc. and has been licensed for use for certain purposes by VanEck. VanEck Vectors Morningstar US Wide Moat UCITS ETF is not sponsored, endorsed, sold or promoted by Morningstar and Morningstar makes no representation regarding the advisability in VanEck Vectors Morningstar US Wide Moat UCITS ETF.

The contents of this material have not been reviewed nor endorsed by any regulatory authority in Hong Kong. Hong Kong residents are advised to exercise caution in relation to this offer. An investment in any fund mentioned herein may not be suitable for everyone. If you are in any doubt about the contents of this material, you should consult your stockbroker, bank manager, solicitor, accountant or other financial adviser for independent professional advice. Such funds are not authorised by the Securities and Futures Commission (“SFC”) in Hong Kong pursuant to Section 104 of the Securities and Futures Ordinance (Cap 571, Laws of Hong Kong) (“SFO”). This material has not been approved by the SFC in Hong Kong, nor has a copy of it been registered with the Registrar of Companies in Hong Kong and, must not, therefore, be issued, or possessed for the purpose of issue, to persons in Hong Kong other than (1) professional investors within the meaning of the SFO (including professional investors as defined by the Securities and Futures (Professional Investors) Rules); or (2) in circumstances which do not constitute an offer to the public for the purposes of the Companies Ordinance (Cap 32, Laws of Hong Kong) or the SFO. This material is distributed on a confidential basis and may not be reproduced in any form or transmitted to any person other than the person to whom it is addressed. No interest/rights/shares in any fund mentioned herein will be issued to any person other than the person to whom this material has been addressed and no person other than such addressee may treat the same as constituting an invitation for him to invest.

The IOPV is calculated by Solactive AG.

This material does not constitute an offer to sell or solicitation to buy any security, including shares of any Fund. An offer or solicitation will be made only through a Fund’s prospectus or summary prospectus and will subject to the terms and conditions contained therein. This material and the information provided herein are not related to a collective investment scheme which is authorised under section 286 of the Securities and Futures Act, Chapter 289 of Singapore (the “SFA”) or recognised under section 287 of the SFA. The Funds mentioned herein are not authorised or recognised by the Monetary Authority of Singapore (the “MAS”) and Shares/Units/Interests are not allowed to be offered to the retail public. This material is not a prospectus as defined in the SFA. Accordingly, statutory liability under the SFA in relation to the content of prospectuses would not apply. You should consider carefully whether the investment is suitable for you.

This material has not been registered as a prospectus with the MAS. Accordingly, this material and any other document or material in connection with it, may not be circulated or distributed, nor may Shares/Units/Interests be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 304 of the SFA, (ii) to a relevant person pursuant to Section 305(1), or any person pursuant to Section 305(2), and in accordance with the conditions specified in Section 305 of the SFA, or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA. Professional advice shall be sought in cases of doubt.

The IOPV is calculated by Solactive AG.

Shares of any fund mentioned herein are being made available in the Republic of China (“R.O.C.”) on a private placement basis only to banks, bills houses, trust enterprises, insurance companies, securities firms, financial holding companies and other qualified entities or institutions (collectively, “Qualified Institutions”) and other entities and individuals meeting specific criteria (“Other Qualified Investors”) pursuant to the private placement provisions of the R.O.C. Rules Governing Offshore Funds. No other offer or sale of the shares in the R.O.C. is permitted. R.O.C. purchasers of the shares may not sell or otherwise dispose of their holdings except by redemption, transfer to a Qualified Institution or Other Qualified Investor, transfer by operation of law or other means approved by the R.O.C. Financial Supervisory Commission.