What changed in this filing

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Item 4. Controls and Procedures

2025-05-15 compared with 2024-11-14 · 23 added, 32 removed, 2 unchanged (96% of the section changed)

Controls and Procedures

Disclosure Controls and Procedures

The Trust and the Fund maintain disclosure controls

and procedures that are designed to ensure that information required to be disclosed in the Trust’s periodic reports filed or submitted

under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) is recorded, processed, summarized and reported

within the time period specified in the SEC’s rules and forms for the Trust and the Fund thereof.

Management of the Sponsor of the Fund (“Management”),

including Guillermo Trias, the Sponsor’s Principal Executive Officer and Ronnie Riven, the Sponsor’s Principal Financial Officer,

who perform functions equivalent to those of a principal executive officer and principal financial officer of the Trust if the Trust had

any officers, have evaluated the effectiveness of the design and operation of the Trust and the Fund’s disclosure controls and procedures

(as defined in Rule 13a-15(e) or 15d- 15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) as of

the end of the period covered by this report, and, based upon that evaluation, concluded that the Trust’s and the Fund’s disclosure

controls and procedures were effective as of the end of such period, to ensure that information the Trust is required to disclose in the

reports that it files or submits with the SEC under the Exchange Act is recorded, processed, summarized and reported, within the time

periods specified in the SEC’s rules and forms, and to ensure that information required to be disclosed by the Trust in the reports

that it files or submits under the Exchange Act is accumulated and communicated to management of the Sponsor, as appropriate, to allow

timely decisions regarding required disclosure.

The scope of the evaluation of the effectiveness of the design and operation of its disclosure

controls and procedures covers the Trust, as well as separately for the Fund.

The certifications of the Chief Executive Officer and Chief Financial

Officer are applicable to the Fund as well as the Trust as a whole.

Changes in Internal Control over Financial Reporting

There has been no change in the Trust’s

or the Fund’s internal controls over the financial reporting (as defined in the Rules 13a-15(f) and 15d-15(f) of the Exchange Act)

that occurred during the Trust’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect,

the Trust’s or the Fund’s internal control over financial reporting.

Controls and Procedures

Trust and the Fund maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed

in the Trust’s periodic reports filed or submitted under the Securities Exchange Act of 1934, as amended (the “Exchange

Act”) is recorded, processed, summarized and reported within the time period specified in the SEC’s rules and forms

for the Trust and the Fund thereof.

of the Sponsor of the Fund (“Management”), including Guillermo Trias, the Sponsor’s Principal Executive Officer

and Ronnie Riven, the Sponsor’s Principal Financial Officer, who perform functions equivalent to those of a principal executive

officer and principal financial officer of the Trust if the Trust had any officers, have evaluated the effectiveness of the design

and operation of the Trust and the Fund’s disclosure controls and procedures (as defined in Rule 13a-15(e) or 15d- 15(e)

of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) as of the end of the period covered by this

report, and, based upon that evaluation, concluded that the Trust’s and the Fund’s disclosure controls and procedures

were effective as of the end of such period, to ensure that information the Trust is required to disclose in the reports that

it files or submits with the SEC under the Exchange Act is recorded, processed, summarized and reported, within the time periods

specified in the SEC’s rules and forms, and to ensure that information required to be disclosed by the Trust in the reports

that it files or submits under the Exchange Act is accumulated and communicated to management of the Sponsor, as appropriate,

to allow timely decisions regarding required disclosure.

The scope of the evaluation of the effectiveness of the design and operation

of its disclosure controls and procedures covers the Trust, as well as separately for the Fund.

certifications of the Chief Executive Officer and Chief Financial Officer are applicable to the Fund as well as the Trust as a

in Internal Control over Financial Reporting

has been no change in the Trust’s or the Fund’s internal controls over the financial reporting (as defined in the

Rules 13a-15(f) and 15d-15(f) of the Exchange Act) that occurred during the Trust’s last fiscal quarter that has materially

affected, or is reasonably likely to materially affect, the Trust’s or the Fund’s internal control over financial

OTHER INFORMATION

Legal Proceedings

Neither the Trust, Fund or Sponsor are currently

subject to any material legal proceedings, nor, to our knowledge, are any material legal proceedings threatened against Trust, Fund or

Risk Factors applicable to Funds

There have been no material changes to the risk

factors previously disclosed in the Trust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the

SEC on April 1, 2024.

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.

What changed 10-Q

Item 4. Controls and Procedures