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Related Parties
 12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

Note 4. Related Parties

 

The Sponsor is considered to be a related party to the Trust.

 

MarketVector Indexes GmbH is the index sponsor and index administrator for the MarketVector Bitcoin Benchmark Rate, which is used by the Trust to determine its net asset value. MarketVector Indexes GmbH is an indirectly wholly-owned subsidiary of Van Eck Associates Corporation.

 

Van Eck Securities Corporation, a marketing agent to the Trust, is a wholly owned-subsidiary of VanEck.

 

Van Eck Associates Corporation is the initial seed investor (“Seed Capital Investor”) on December 21, 2023.

 

The Sponsor’s parent, an affiliate of the Trust, holds a minority interest in Gemini Trust Company, LLC, the parent company of the Custodian, that represents less than 1.0% of Gemini Trust Company, LLC’s ownership.