GRAYSCALE BITCOIN COVERED CALL ETF

Purpose Bitcoin ETF invests in and holds substantially all of its assets in long-term holdings of the digital currency bitcoin (“Bitcoin”). Given the speculative nature of Bitcoin and the volatility of the Bitcoin markets, there is considerable risk that the Fund will not be able to meet its investment objectives. An investment in the Fund is not intended as a complete investment program and is only appropriate for investors who have the capacity to absorb a loss of some or all of their investment. An investment in the Fund is considered high risk.