CoinShares Bitcoin ETF

CoinShares Bitcoin ETF is a Delaware statutory trust organized on January 20, 2021, that operates as an exchange-traded fund. The Trust issues common units of beneficial interest, called Shares, which represent fractional undivided beneficial interest and ownership in the Trust. These Shares are listed on The Nasdaq Stock Market, LLC. The Trust sells or redeems Shares in blocks of 5,000 Shares, known as a "Basket," based on the quantity of bitcoin attributable to each Share, net of accrued but unpaid expenses and liabilities. There are an unlimited number of authorized Shares. The Trust's inception of operation was January 11, 2024. CoinShares Co., a Delaware corporation, was appointed as co-sponsor on March 15, 2024, and succeeded Valkyrie Digital Assets LLC as the sponsor on June 14, 2024. CSC Delaware Trust Company serves as the trustee. U.S. Bancorp Fund Services, LLC acts as both the transfer agent and administrator. Paralel Distributors LLC is the marketing agent. Coinbase Custody Trust Company, LLC, BitGo Trust Company, Inc., and Komainu (Jersey) Limited are the custodians for the Trust's bitcoin. Coinbase, Inc., an affiliate of Coinbase, is the prime broker, and U.S. Bank, N.A., an affiliate of the Transfer Agent and Administrator, is the cash custodian. The Trust's fiscal year ends on December 31st.