Dilution profile // every instrument, one screen, from SEC filings

VanEck Bitcoin ETF (HODL)

CIK 1838028 · all EDGAR filings →

Overall dilution risk
HIGHworst of 2 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGHS-1/A on file 2024-01-09
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
HIGH+749% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
NOT COMPUTEDrunway not computable from latest facts
= cash vs trailing operating burn

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2024-03-182026-04-30

Latest: 59.0M shares as of Apr 30, 2026 (10-Q).

Cash runway

Not enough filing data

can’t compute a runway

Full breakdown: cash runway tool · source filing →

Warrants

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

No convertible-note facts tagged in the 10-Q filed May 14, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Registrations and offerings

Last 12 months: 0 executed · 0 registered.

UPDATEFeb 23, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
UPDATEDec 3, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
UPDATENov 25, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
UPDATENov 20, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
MARKETINGJun 17, 2025Free-writing prospectus — offering being marketedFWP
UPDATEJun 11, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
MARKETINGMay 6, 2025Free-writing prospectus — offering being marketedFWP
UPDATEMar 26, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
UPDATEMar 7, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
UPDATENov 25, 2024Prospectus update — often a resale registration, not necessarily new capital424B3
MARKETINGSep 9, 2024Free-writing prospectus — offering being marketedFWP
UPDATEAug 20, 2024Prospectus update — often a resale registration, not necessarily new capital424B3

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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