HODLvsBLSH
VanEck Bitcoin Trust vs Bullish
Side-by-side Bitcoin treasury comparison: holdings, market cap, mNAV ratio, BTC per share, cost basis, and recent purchases. Numbers refresh every 5 minutes from SEC filings and live market data.
HODL
VanEck Bitcoin Trust
🇨🇦 CA
17,005 BTC
$1.1B market value
BLSH
Bullish
🇺🇸 US
24,340 BTC
$1.5B market value
Metric
HODL
BLSH
BTC holdings
17,005 BTC
24,340 BTC
Market value of BTC
$1.1B
$1.5B
Average cost per BTC
$75,942.00
—
Total cost basis
$1.3B
—
mNAV (market cap ÷ BTC value)
—
2.74×
Sats per share
—
- 5/18/2026+-98.75820651 BTC-$7.6M
- 5/14/2026+93 BTC$7.5M
- 5/11/2026+56 BTC$4.6M
- 5/7/2026+-63.74553781 BTC-$5.1M
- 5/5/2026+-71.68754711 BTC-$5.8M
HODL vs BLSH: frequently asked
Which company holds more Bitcoin, HODL or BLSH?▾
Bullish (BLSH) holds 24,340 BTC, compared to VanEck Bitcoin Trust's (HODL) 17,005 BTC — roughly 1.4× more.
What's the total Bitcoin value on the balance sheets of HODL and BLSH?▾
HODL holds $1.1B worth of Bitcoin at current market prices. BLSH holds $1.5B.
Who has a lower cost basis per BTC, HODL or BLSH?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did HODL last buy Bitcoin?▾
HODL disclosed a -98.75820651 BTC purchase on May 18, 2026.
When did BLSH last buy Bitcoin?▾
BLSH disclosed a 0 BTC purchase on December 31, 2024.