Hreðavatn is an accessible and rewarding fishing lake in a beautiful environment close to Bifröst. The lake is about 1.3 km² in area and the maximum depth is about 20m. It stands at about 70m altitude. Both Arctic char and brown trout are caught in the lake, and most are about a pound, although some larger fish are also caught. It is best to fish in Hreðavatn in the first half of the summer and at the end of the fishing season.