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Shares of the Vehicles are not insured by the Federal Deposit Insurance Corporation or any other governmental agency. Investments in the Vehicles are speculative investments that involve high degrees of risk. The shares of each Vehicle are intended to reflect the price of the digital asset s held by that Vehicle, less fees and expenses. However, none of the Vehicles currently operates a redemption program and any Vehicle may halt creations from time to time.

Moreover, the prices of the underlying digital assets are derived from third-party indices and reference rates, and no assurance can be given as to the accuracy of these prices.

There can be no guarantee that these strategies and processes will produce the intended results and no guarantee that the fund will achieve its investment objective. Investors in any Vehicle must have the financial ability, sophistication, experience and willingness to bear the risks of an investment in that Vehicle. Qualified investors may only invest in a Vehicle pursuant to documentation made available by Grayscale, which should be read in its entirety.

Information provided about a Vehicle is not intended to be, nor should it be construed or used as, investment, tax or legal advice, an investment recommendation, or an offer to sell, or a solicitation of an offer to buy, shares in any Vehicle.

In making an investment decision, investors must rely on their own examination of the applicable Vehicle and the terms of the offering contemplated by the applicable Offering Documents, including the risks involved.

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The shares of each Vehicle are not registered under the Securities Act, the Securities Exchange Act ofthe Investment Company Act ofor any state securities laws, and are being offered in private placements pursuant to the exemption from registration provided by Rule c under Regulation D of the Securities Act.

As a result, the shares of each Vehicle are restricted and subject to significant limitations on resales and transfers. Potential investors in any Vehicle should carefully consider the long term nature of an investment in that Vehicle prior to making an investment decision. Shares in the Vehicles have not been recommended by any U.

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Furthermore, the foregoing authorities have not confirmed the accuracy or determined the adequacy of any information on this website or in the Offering Documents.

Any representation to the contrary is a criminal offense. Grayscale is a subsidiary of Digital Currency Group Inc. DGC has interests in multiple digital currency ventures in addition to Grayscale. CoinDesk, the leading digital media, events and information services company for the digital asset and blockchain technology community, is also a subsidiary of DCG. CoinDesk is editorially independent from DCG and Grayscale, and any views or opinions expressed by CoinDesk are not the views or opinions of Grayscale.

Prospective investors in any Vehicle should carefully note the following: Each Vehicle represents a speculative investment and involves a high degree of risk.