Pre-Creation/Redemption AbandonmentThe abandonment by the Trust,
irrevocably for no direct or indirect consideration, all Incidental Rights and IR Virtual Currency to which the Trust would otherwise be entitled, effective immediately prior to a Creation Time or a Redemption Time (as the case may be) for the
Trust.
Pre-Creation/Redemption Abandonment NoticeThe provision, as amended or supplemented from time to
time, in the Prime Broker Agreement providing that the Trust is abandoning irrevocably for no direct or indirect consideration, effective immediately prior to each Creation Time or Redemption Time (as the case may be), all Incidental Rights and IR
Virtual Currency to which it would otherwise be entitled as of such time and with respect to which the Trust has not taken any Affirmative Action at or prior to such time.
Prime BrokerCoinbase, Inc.
Prime Broker AgreementThe Prime Broker Agreement, dated as of May 22, 2024, by and among the Trust, the
Sponsor and the Prime Broker, on behalf of itself, the Custodian and Coinbase Credit, that governs the Trusts and the Sponsors use of the Custodial and Prime Broker Services provided by the Custodian and the Prime Broker.
Principal Market NAVThe net asset value of the Trust determined on a GAAP basis.
Record Date4:00 PM ET on July 18, 2024, the record date for the Initial Distribution.
Redemption Cash ShortfallIn connection with a redemption pursuant to an Actual Execution Cash Order, the
amount by which the cash to be delivered to the Authorized Participant is reduced in the event the price realized in disposing the corresponding Total Basket Amount is lower than the Total Basket NAV on the trade date.
Redemption TimeWith respect to the redemption of any Shares by the Trust, the time at which the Trust redeems
such Shares.
SECThe U.S. Securities and Exchange Commission.
Secondary IndexThe Coin Metrics Real-Time Rate.
Secondary Index PriceThe price set by Coin Metrics Real-Time Rate as of 4:00 p.m., New York time, on the valuation
date. See BusinessOverview of the Ethereum Industry and MarketThe Index and the Index PriceDetermination of the Index Price When Index Price is Unavailable for a description of how the Secondary Index Price is utilized
when the Index Price is unavailable.
Secondary Index ProviderCoin Metrics Inc., a Delaware corporation that
publishes the Secondary Index.
Secondary MarketAny marketplace or other alternative trading system, as
determined by the Sponsor, on which the Shares may then be listed, quoted or traded, including but not limited to, NYSE Arca.
Securities ActThe Securities Act of 1933, as amended.
Seed Shares10,000 Shares at a per-Share price equal to $10, delivered on May 31, 2024 in exchange for $100,000
in proceeds to the Trust. The Seed Shares are currently anticipated to be redeemed for cash in connection with, and immediately prior to the consummation of, the Initial Distribution.
Settlement BalanceAn account controlled and maintained by the Custodian to which cash and digital assets of
the Trust are credited on the Trusts behalf.
SharesCommon units of fractional undivided beneficial
interest in, and ownership of, the Trust.
SIPCThe Securities Investor Protection Corporation.
SponsorGrayscale Investments, LLC.
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