VanEck Bitcoin ETF (HODL) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
HODL currently has 59M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 44.78% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility).
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| May 14, 2026 |
10-Q filing | 59.0M shares outstanding |
59M | 0 |
| Mar 12, 2026 |
10-K filing | 59.4M shares outstanding |
59M | 0 |
| Nov 13, 2025 |
10-Q filing | 65.1M shares outstanding |
65M | 0 |
| Aug 13, 2025 |
10-Q filing | 59.7M shares outstanding |
60M | 0 |
| May 14, 2025 |
10-Q filing | 51.0M shares outstanding |
51M | 0 |
| Mar 26, 2025 |
10-K filing | 50.2M shares outstanding |
50M | 0 |
| Feb 14, 2025 |
Stock Split
8-K filing: Stock split four-for-one | Outstanding: 11,625,000 → 51,200,000 |
51M | 0 |
| Nov 12, 2024 |
10-Q filing | 11.6M shares outstanding |
12M | 0 |
| Aug 13, 2024 |
10-Q filing | 9.9M shares outstanding |
9.9M | 0 |
| May 13, 2024 |
10-Q filing | 8.2M shares outstanding |
8.2M | 0 |
| Mar 28, 2024 |
10-K filing | 7.0M shares outstanding |
7M | 0 |
| Jan 09, 2024 |
S-1/A filing: This S-1/A filing relates to the registration of common shares of beneficial interest for the VanEck Bitcoin Trust, an exchange-traded fund seeking to track the performance of the price of bitcoin. |
N/A | 0 |
| Jan 08, 2024 |
S-1/A filing: This S-1/A filing relates to the registration of common shares of beneficial interest for the VanEck Bitcoin Trust, an exchange-traded fund designed to track the performance of the price of bitcoin, less expenses. |
N/A | 0 |
| Dec 29, 2023 |
S-1/A filing: This S-1/A filing relates to the registration of common shares for the VanEck Bitcoin Trust, an exchange-traded fund seeking to track the price of bitcoin, for listing on the Cboe BZX Exchange under the ticker symbol HODL. |
N/A | 0 |
| Dec 08, 2023 |
S-1/A filing: This S-1/A filing is for the registration of common shares of beneficial interest for the VanEck Bitcoin Trust, an exchange-traded fund seeking to reflect the performance of the price of bitcoin less the expenses of the Trust's operations. |
N/A | 0 |
| Oct 27, 2023 |
S-1/A filing: This is an S-1/A filing for a trust, where the sponsor is responsible for the ongoing registration of shares for public offering. The filing outlines the roles of various service providers including the trustee, administrator, transfer agent, bitcoin custodian, and marketing agent. |
N/A | 0 |
| Jun 04, 2021 |
S-1/A filing: This is an S-1/A filing for common shares representing fractional undivided beneficial interest in and ownership of the Trust that may be purchased and sold on the Exchange. |
N/A | 0 |