VBTC.AXvsBLSH
VanEck Bitcoin ETF (Australia) 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.
VBTC.AX
VanEck Bitcoin ETF (Australia)
🇦🇺 AU
2,456 BTC
$161.5M market value
BLSH
Bullish
🇺🇸 US
21,430 BTC
$1.4B market value
Metric
VBTC.AX
BLSH
BTC holdings
2,456 BTC
21,430 BTC
Market value of BTC
$161.5M
$1.4B
Average cost per BTC
—
—
Total cost basis
—
—
mNAV (market cap ÷ BTC value)
—
2.91×
Sats per share
—
No tracked purchases yet
- 5/14/2026+190 BTC$0.00
- 3/10/2026+-1,010 BTC$0.00
- 3/10/2026+0 BTC$0.00
- 11/19/2025+80 BTC$0.00
- 9/17/2025+-1,390 BTC$0.00
VBTC.AX vs BLSH: frequently asked
Which company holds more Bitcoin, VBTC.AX or BLSH?▾
Bullish (BLSH) holds 21,430 BTC, compared to VanEck Bitcoin ETF (Australia)'s (VBTC.AX) 2,456 BTC — roughly 8.7× more.
What's the total Bitcoin value on the balance sheets of VBTC.AX and BLSH?▾
VBTC.AX holds $161.5M worth of Bitcoin at current market prices. BLSH holds $1.4B.
Who has a lower cost basis per BTC, VBTC.AX or BLSH?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did VBTC.AX last buy Bitcoin?▾
VBTC.AX's last BTC purchase isn't in our tracked history yet.
When did BLSH last buy Bitcoin?▾
BLSH disclosed a 190 BTC purchase on May 14, 2026.