−Removed: Unregistered Sales of Equity Securities and Use of
−Removed: Proceeds Issuer Purchases of DEFI Shares
−Removed: The Fund creates and redeems Shares from
−Removed: time to time, but only in one or more Creation Baskets or Redemption Baskets.
−Removed: On any business day, an Authorized Purchaser may
−Removed: place an order with the transfer agent to redeem one or more baskets.
−Removed: By placing a redemption order, an Authorized Purchaser agrees
−Removed: to deliver the baskets to be redeemed through DTC’s book-entry system to the Fund by the end of the next business day following
−Removed: the effective date of the redemption order or by the end of such later business day.
−Removed: Prior to the delivery of the redemption distribution
−Removed: for a redemption order, the Authorized Purchaser must also have wired to the Sponsor’s account at the Custodian the non-refundable
−Removed: transaction fee due for the redemption order.
−Removed: The below table sets forth the number of Shares redeemed during the fiscal quarter
−Removed: ending September 30, 2025.
−Removed: Total Number of
−Removed: Shares Purchased
−Removed: Average Price Paid
−Removed: per Share Total Number of
−Removed: Shares Purchased as
−Removed: Part of Publicly
−Removed: Announced Plans or
−Removed: Maximum Number
−Removed: (or Approximate
−Removed: Dollar Value) of
−Removed: Shares that May Yet
−Removed: Be Purchased Under
−Removed: July 1 to July 31, 2025
−Removed: August 1 to August 31, 2025
−Removed: September 1 to September 30, 2025
−Removed: July 1 to September 30, 2025
+Added: Unregistered Sales of Equity Securities
+Added: and Use of Proceeds Issuer Purchases of DEFI Shares
+Added: (b) Not applicable.
+Added: (c) The Sponsor, the Trust and the Fund do not purchase Shares directly from shareholders.
+Added: In connection with
+Added: the redemption of Baskets, the Trust redeemed 0 Shares (0 (zero) Baskets) during the three month ended March 31, 2026, as set forth in
+Added: the table below.
+Added: Total Number of Shares
+Added: Average Price Per
+Added: 1/1/26 to 1/31/26
+Added: 2/1/26 to 2/28/26
+Added: 3/1/26 to 3/31/26
Defaults Upon Senior Securities
1 unchanged sentence
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.