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In a recent SEC filing, the VanEck Bitcoin ETF, trading under the symbol HODL on the Cboe BZX Exchange, Inc., disclosed an update to its MarketVectorTM Bitcoin Benchmark Rate (the "Index"). Effective December 2, 2024, the index sponsor and administrator, MarketVector Indexes GmbH, made changes to the constituent trading platforms that comprise the Index. The filing, dated today, March 7, 2025, indicated that Bitfinex and LMAX have been replaced by Bullish and Gemini as part of the Index’s calculation. The ETF, currently trading at $2.05 with a market capitalization of $314 million, appears overvalued according to InvestingPro analysis.
The Index, which is a crucial factor in determining the performance of the VanEck Bitcoin ETF, now includes Bitstamp, Bullish, Coinbase (NASDAQ:COIN), Gemini, and Kraken as the platforms that contribute to its calculation. These platforms are used to establish a benchmark rate for Bitcoin, which in turn influences the ETF’s valuation. The ETF has shown remarkable performance, with a striking 1,853% return over the past six months and maintains an average daily trading volume of 860,000 shares. For comprehensive analysis and additional insights, InvestingPro subscribers have access to over 30 key financial metrics and expert recommendations.
The VanEck Bitcoin ETF operates as a trust, with VanEck Digital Assets, LLC serving as the Sponsor. The filing was signed by Matthew A. Babinsky, Assistant Vice President and Assistant Secretary of VanEck Digital Assets, LLC. InvestingPro data shows the fund maintains a GOOD Financial Health score of 2.58, suggesting robust operational stability despite its aggressive growth trajectory.
This adjustment in the Index’s composition reflects the dynamic nature of the cryptocurrency market and the ETF’s ongoing efforts to maintain a robust and representative benchmark rate for its investors. The ETF’s management believes that the inclusion of Bullish and Gemini will enhance the accuracy and reliability of the Index.
The VanEck Bitcoin ETF is categorized as an emerging growth company, and it has elected not to use the extended transition period for complying with new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Investors in the VanEck Bitcoin ETF and other interested parties can view the full details of this SEC filing to understand the changes and their potential implications for the ETF’s performance. The information provided in this article is based on the press release statement filed with the SEC.
In other recent news, the VanEck Bitcoin ETF has executed a four-for-one forward stock split, as detailed in a recent 8-K filing with the U.S. Securities and Exchange Commission. This stock split has expanded the number of shares available from 12,800,000 to 51,200,000, aiming to make shares more accessible to a broader range of investors by lowering the price per share. The fund is managed by VanEck Digital Assets, LLC, and is traded on the Cboe BZX Exchange, Inc. The stock split was overseen by VanEck Digital Assets, LLC, with Matthew A. Babinsky, Assistant Vice President and Assistant Secretary, signing off on the regulatory filing. This action reflects the ongoing trend of increased mainstream acceptance of cryptocurrency-related financial products. The VanEck Bitcoin ETF allows investors to engage with the Bitcoin market through a regulated investment vehicle, eliminating the need for direct cryptocurrency purchases. Investors should consider that this information is based on the latest SEC filing and represents the company’s current share structure following the stock split.
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