The Fund seeks to reflect the performance of Bitcoin less operating expenses. Available to both accredited U.S. investors as well as qualified offshore investors.
- Direct exposure to bitcoin, the largest and most liquid cryptocurrency.
- Secure* and simplified approach that alleviates the operational burden of direct bitcoin ownership.
- Limited partnership structure mitigates potential for sustained premiums and discounts.
Inception: April 2021
Management Fee: 1.00%
Performance Fee / Redemption Fee: None
Min. Investment: $100,000
Additional Investment: $25,000
Investor Type: U.S. Accredited Investors / Qualified Offshore Investors
Redemptions: Quarterly (with 30 day’s notice)
Important Definitions & Disclosures
*Secured via 3rd party Custodians, Gemini and State Street
The VanEck Bitcoin Tracker Fund, LP is not an investment company registered under the Investment Company Act of 1940, and therefore is not subject to the same regulatory requirements as mutual funds or ETFs registered under the Investment Company Act of 1940. The Fund is not a commodity pool for purposes of the Commodity Exchange Act. Before making an investment decision, you should carefully consider the risk factors and other information included in the Private Placement Memorandum.
The Fund is available to Accredited Investors Only. Please carefully read the Private Placement Memorandum before investing. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. The Fund has no operating history and involves a significant degree of risk. There is no guarantee the Fund will achieve its investment objective and investors may lose their entire investment. The Fund is not suitable for all investors. Past performance is not a guarantee of future results.
An investment in the Fund is subject to risks which include among others, bitcoin and bitcoin network, volatility of digital assets trading prices, lack of governance of many digital asset networks, blockchain technology, cybersecurity risk, loss or destruction of a private key, forks in the bitcoin network, dependence on the internet, market risk, investment concentration, liquidity, third party bankruptcy, employee or third party service provider misconduct, lack of regulation for digital assets and any future regulatory developments could affect the viability and expansion of the use of the Fund, lack of regulatory protections, and tax risks. Please see the Private Placement Memorandum for additional information.
Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status. Cryptocurrencies are sometimes exchanged for U.S. dollars or other currencies around the world, but they are not generally backed or supported by any government or central bank. Their value is completely derived by market forces of supply and demand, and they are more volatile than traditional currencies. The value of cryptocurrency may be derived from the continued willingness of market participants to exchange fiat currency for cryptocurrency, which may result in the potential for permanent and total loss of value of a particular cryptocurrency should the market for that cryptocurrency disappear. Cryptocurrencies are not covered by either FDIC or SIPC insurance. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of cryptocurrency.
Investing in cryptocurrencies comes with a number of risks, including volatile market price swings or flash crashes, market manipulation, and cybersecurity risks. In addition, cryptocurrency markets and exchanges are not regulated with the same controls or customer protections available in equity, option, futures, or foreign exchange investing. There is no assurance that a person who accepts a cryptocurrency as payment today will continue to do so in the future.
Investors should conduct extensive research into the legitimacy of each individual cryptocurrency, including its platform, before investing. The features, functions, characteristics, operation, use and other properties of the specific cryptocurrency may be complex, technical, or difficult to understand or evaluate. The cryptocurrency may be vulnerable to attacks on the security, integrity or operation, including attacks using computing power sufficient to overwhelm the normal operation of the cryptocurrency’s blockchain or other underlying technology. Some cryptocurrency transactions will be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that a transaction may have been initiated.
- Investors must have the financial ability, sophistication and willingness to bear the risks of an investment and a potential total loss of their entire investment in cryptocurrency.
- An investment in cryptocurrency is not suitable or desirable for all investors.
- Cryptocurrency has limited operating history or performance.
- Fees and expenses associated with a cryptocurrency investment may be substantial.
There may be risks posed by the lack of regulation for cryptocurrencies and any future regulatory developments could affect the viability and expansion of the use of cryptocurrencies. Investors should conduct extensive research before investing in cryptocurrencies.
Information provided by Van Eck is not intended to be, nor should it be construed as financial, tax or legal advice. It is not a recommendation to buy or sell an interest in cryptocurrencies.