20 unchanged sentences
Principal Financial and Accounting Officer, Investment Pools
−Removed: Melanie Zimdars
Chief Compliance Officer
74 unchanged sentences
The Sponsor believes that the Trading Policies are reasonably designed to promote compliance with insider trading laws, rules and regulations with respect to the purchase, sale and/or other dispositions of securities, including Shares of the Trust, as well as applicable rules and regulations of the Exchange.
−Removed: A copy of the Insider Trading Policy is filed as Exhibit 19.1 to this Annual Report on Form 10-K.
+Added: A copy of the Insider Trading Policy is incorporated by reference to Exhibit 19.1 to the Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed by the Trust on February 26, 2025.
Executi ve Compensation.
3 unchanged sentences
For the year ended December 31, 2025, the Trust incurred Sponsor’s fees of $1,649,268 of which $1,501,559 had been paid at December 31, 2025.
−Removed: Sponsor’s fees of $56,687 were unpaid at December 31, 2024 and are reported as a liability on the Statement of Financial Condition.
+Added: Sponsor’s fees of $147,709 were unpaid Sponsor's fees at December 31, 2025 and are reported as a liability on the Statement of Financial Condition.
For the year ended December 31, 2024, the Trust incurred Sponsor’s fees of $746,227 of which $689,540 had been paid at December 31, 2024.
44 unchanged sentences
License Agreement dated as of April 6, 2018 between The Bank of New York Mellon and the Sponsor, incorporated herein by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by the Trust on April 9, 2018.
−Removed: Insider Trading Policies and Procedures.
+Added: Insider Trading Policies and Procedures, incorporated herein by reference to Exhibit 19.1 to the Annual Report on Form 10-K filed by the Trust on February 25, 2025 .
Consent of PricewaterhouseCoopers LLP.
17 unchanged sentences
February 27, 2026
−Removed: / S / K ELLI G ALLEGOS
+Added: /S/ KELLI GALLEGOS
Kelli Gallegos
2 unchanged sentences
behalf of the registrant and in the capacities* and on the dates indicated.
−Removed: /s/ J ORDAN K RUGMAN
+Added: /s/ JORDAN KRUGMAN
Jordan Krugman
5 unchanged sentences
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.