Unregistered Sales of Equity Securities and Use of Proceeds.
−Removed: connection with redemptions of baskets held by an Authorized Participant, the Trust redeemed 149 baskets (comprising 745,000
−Removed: Shares) during the three months ended September 30, 2025, at an average price per Share of $31.78.
−Removed: The following table provides
−Removed: information about BRRR’s redemptions by Authorized Participants during the three months ended September 30, 2025:
+Added: Not applicable.
+Added: Not applicable.
+Added: In connection with redemptions of Baskets held by authorized participants, the Trust redeemed 120 Baskets (comprising 600,000 Shares) during the three months ended March 31, 2026, at an average price per Share of $20.68.
+Added: The following table provides information about BRRR’s redemptions by authorized participants during the three months ended March 31, 2026:
Calendar Month
−Removed: September 2025
+Added: February 2026
Defaults Upon Senior Securities.
Mine Safety Disclosures.
+Added: Not Applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.