Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
a) Prior to the commencement of operations on November 25, 2025, on November 3, 2025, the Trust sold eight (8) Shares at a per-Share price of $25 to Bitwise Asset Management, Inc., an affiliate of the Sponsor, in a transaction exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended.
b) Not applicable.
c) The Trust does not purchase Shares directly from its Shareholders. In connection with its redemption of Baskets held by Authorized Participants, the Trust redeemed 2 Baskets (comprising 20,000 Shares) during the first quarter ended March 31, 2026. The following table summarizes the redemptions by Authorized Participants during the period.
18
Period
Total Shares
Redeemed
Average Price
Per Share
January 1, 2026 – January 31, 2026
20,000
$
20.35
February 1, 2026 – February 28, 2026
—
$
—
March 1, 2026 – March 31, 2026
—
$
—
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
Not applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.