VanEck's Journey with Crypto

IMPORTANT DISCLOSURES

This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned is unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third party data. The information herein represents the opinion of the author(s), but not necessarily those of VanEck or its other employees.

VanEck Bitcoin ETF ("HODL") and VanEck Ethereum ETF ("ETHV") Disclosures

This material must be preceded or accompanied by a Prospectus (HODL: Prospectus, ETHV Prospectus.) An investment in the VanEck Ethereum ETF (“ETHV”) or the VanEck Bitcoin ETF (“HODL”) (collectively, the “Trusts”) may not be suitable for all investors. Before investing you should carefully consider the Trusts’ investment objectives, risks, charges and expenses.

Investing involves significant risk, and you could lose money on an investment in the Trusts. The values of ether and bitcoin are highly volatile, and the value of the Trusts’ shares could decline rapidly, including to zero. You could lose your entire principal investment. For a more complete discussion of the risk factors relative to the Trusts, carefully read the prospectuses.

The Trusts’ investment objectives are to reflect the performance of the price of ether (in the case of ETHV) or bitcoin (in the case of HODL) less the expenses of each Trust’s operations. The Trusts are passive investment vehicles that do not seek to generate returns beyond tracking the price of ether or bitcoin.

The Trusts are not investment companies registered under the Investment Company Act of 1940 (“1940 Act”) or commodity pools for the purposes of the Commodity Exchange Act (“CEA”). Shares of the Trusts are not subject to the same regulatory requirements as mutual funds. As a result, shareholders of the Trusts do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act or the protections afforded by the CEA.

An investment in either of the Trusts is subject to risks which include, but are not limited to, the historically and potentially future extreme volatility of ether and bitcoin, various potential factors that may adversely affect the liquidity of the Trusts’ shares, the limited history of the indices from which the value of ether or bitcoin and hence the value of Trusts’ shares will be determined, potential threats to the Trusts’ respective custodians, and the unregulated nature and lack of transparency surrounding the operations of ether and bitcoin trading platforms, all of which may ultimately adversely affect the value of shares of the Trusts. Please note that this is not an exhaustive list of risks pertaining to the Trusts. Please read carefully the prospectuses for a complete list of potential risks.

Because shares of the Trusts are intended to reflect the price of the digital assets held in the Trusts, the market price of the shares is subject to fluctuations similar to those affecting digital asset prices. Additionally, shares of the Trusts are bought and sold at market price, not at net asset value (“NAV”). Brokerage commissions will reduce returns.

The Trusts’ shares trade like stocks, are subject to investment risk and will fluctuate in market value. The value of the Trusts’ shares relate directly to the value of the digital assets held by the Trusts (less their expenses), and fluctuations in the price of the digital assets could materially and adversely affect an investment in the Trusts’ shares. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the digital assets represented by them. The Trusts do not generate any income, and as the Trusts regularly issue shares to pay for the Sponsor’s ongoing expenses, the amount of digital assets represented by each Share will decline over time.

This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek professional advice for their particular situation and jurisdiction.

The Sponsor of the Trusts is VanEck Digital Assets, LLC. The Marketing Agent for the Trusts is Van Eck Securities Corporation. VanEck Digital Assets, LLC., and Van Eck Securities Corporation are wholly-owned subsidiaries of Van Eck Associates Corporation.

© Van Eck Associates Corporation, 666 Third Avenue, New York, NY 10017
Phone: 800.826.2333

VanEck Ventures Fund I, L.P. Risk Disclosures

The VanEck Ventures Fund I, L.P. (the “Fund”) 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 available to Qualified Purchasers Only. Please carefully read the Private Placement Memorandum (“PPM”) before investing. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. 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.

The Partnership's investment program is speculative and entails substantial risks. There can be no assurance that the Partnership's investment objective will be achieved.

Your individual performance may be different and will be reflected in your monthly investor statement. It is important to rely on the monthly investor statement that you receive from the fund’s Administrator, as the statement will indicate your individual performance. An individual investor’s performance may differ, perhaps materially, from the performance results set forth herein due to a number of factors, including (a) participation in new issues, (b) timing of individual contributions/ subscriptions and withdrawals/redemptions, (c) any accumulated loss carryforwards and (d) different expenses, fees and other charges paid by certain investors.

An investment in the Fund involves a high degree of risk, including, without limitation, uncertain returns, market risk, risks associated with Limited Partner default, indemnification risks, illiquidity, possible lack of diversification, lack of management control, tax risks and potential conflicts of interest. There is no guarantee that the Funds’ investment objectives will be achieved. Please note that this is not an exhaustive list of risks pertaining to the Fund.  Please read carefully the PPM for a complete list of potential risks. Please contact us at investorrelations@vaneck.com for the Private Placement Memorandum which contains additional risk information.

Cryptocurrencies and digital assets are not suitable for all investors. Investments in digital assets and Web3 companies are highly speculative and involve a high degree of risk. These risks include, but are not limited to: the technology is new and many of its uses may be untested; intense competition; slow adoption rates and the potential for product obsolescence; volatility and limited liquidity, including but not limited to, inability to liquidate a position; loss or destruction of key(s) to access accounts or the blockchain; reliance on digital wallets; reliance on unregulated markets and exchanges; reliance on the internet; cybersecurity risks; and the lack of regulation and the potential for new laws and regulation that may be difficult to predict. Moreover, the extent to which Web3 companies or digital assets utilize blockchain technology may vary, and it is possible that even widespread adoption of blockchain technology may not result in a material increase in the value of such companies or digital assets.

Digital asset prices are highly volatile, and the value of digital assets, and Web3 companies, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss of your entire principal investment.

Digital assets are not generally backed or supported by any government or central bank and are not covered by FDIC or SIPC insurance. Accounts at digital asset custodians and exchanges are not protected by SPIC and are not FDIC insured. Furthermore, markets and exchanges for digital assets are not regulated with the same controls or customer protections available in traditional equity, option, futures, or foreign exchange investing.

Digital assets include, but are not limited to, cryptocurrencies, tokens, NFTs, assets stored or created using blockchain technology, and other Web3 products.

Web3 Companies include but are not limited to, companies that involve the development, innovation, and/or utilization of blockchain, digital assets, or crypto technologies.

VAN ECK ABSOLUTE RETURN ADVISERS CORPORATION (‘VEARA”), THE INVESTMENT MANAGER OF THE FUND, IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS. THE FUND IS NOT A COMMODITY POOL AND WILL NOT BE REGULATED BY THE U.S. COMMODITY FUTURES TRADING COMMISSION (THE “CFTC”) UNDER THE COMMODITY EXCHANGE ACT AND THE RULES THEREUNDER. INVESTORS IN THE FUND WILL NOT RECEIVE THE REGULATORY PROTECTIONS AFFORDED TO INVESTORS IN REGULATED COMMODITY POOLS.

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.

General Digital Assets Risk Disclosures

Investments in digital assets and Web3 companies are highly speculative and involve a high degree of risk. These risks include, but are not limited to: the technology is new and many of its uses may be untested; intense competition; slow adoption rates and the potential for product obsolescence; volatility and limited liquidity, including but not limited to, inability to liquidate a position; loss or destruction of key(s) to access accounts or the blockchain; reliance on digital wallets; reliance on unregulated markets and exchanges; reliance on the internet; cybersecurity risks; and the lack of regulation and the potential for new laws and regulation that may be difficult to predict. Moreover, the extent to which Web3 companies or digital assets utilize blockchain technology may vary, and it is possible that even widespread adoption of blockchain technology may not result in a material increase in the value of such companies or digital assets.

Digital asset prices are highly volatile, and the value of digital assets, and the companies that invest in them, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss of your entire principal investment.

Digital assets are not generally backed or supported by any government or central bank and are not covered by FDIC or SIPC insurance. Accounts at digital asset custodians and exchanges are not protected by SPIC and are not FDIC insured. Furthermore, markets and exchanges for digital assets are not regulated with the same controls or customer protections available in traditional equity, option, futures, or foreign exchange investing.

Digital assets include, but are not limited to, cryptocurrencies, tokens, NFTs, assets stored or created using blockchain technology, and other Web3 products.

Web3 Companies include but are not limited to, companies that involve the development, innovation, and/or utilization of blockchain, digital assets, or crypto technologies.

All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future results.

© Van Eck Securities Corporation, Distributor, a wholly-owned subsidiary of Van Eck Associates Corporation.