Common use of Events Requiring Dissolution of the Trust Clause in Contracts

Events Requiring Dissolution of the Trust. (a) The Trust shall dissolve at any time upon the happening of any of the following events: (i) a U.S. federal or state regulator requires the Trust to shut down or forces the Trust to liquidate its bitcoins or seizes, impounds or otherwise restricts access to the Trust Property; (ii) any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of bitcoin for purposes of determining the net asset value of the Trust; (iii) any ongoing event exists that either prevents the Trust from converting or makes impractical the Trust’s reasonable efforts to convert bitcoins to U.S. Dollars; or (iv) a certificate of dissolution or revocation of the Sponsor’s charter is filed (and ninety (90) days have passed after the date of notice to the Sponsor of revocation without a reinstatement of the Sponsor’s charter) or the withdrawal, removal, adjudication or admission of bankruptcy or insolvency of the Sponsor (each of the foregoing events an “Event of Withdrawal”) has occurred unless (i) at the time there is at least one remaining Sponsor or (ii) within ninety (90) days of such Event of Withdrawal, the Trustee agrees in writing to continue the affairs of the Trust and to select, effective as of the date of such event, one or more successor Sponsors. (b) The Sponsor may, in its sole discretion, dissolve the Trust if any of the following events occur: (i) the Shares are delisted from the Exchange and are not approved for listing on another national securities exchange within five Business Days of their delisting; (ii) the SEC determines that the Trust is an investment company required to be registered under the Investment Company Act of 1940; (iii) the CFTC determines that the Trust is a commodity pool under the Commodity Exchange Act; (iv) the Trust is determined to be a “money service business” under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder; (v) the Trust is required to obtain a license or make a registration under any state law regulating money transmitters, money services businesses, providers of prepaid or stored value or similar entities, or virtual currency businesses; (vi) the Trust becomes insolvent or bankrupt; (vii) the Bitcoin Custodian, cash custodian or prime broker resigns or is removed without replacement; (viii) all of the Trust’s bitcoins are sold; (ix) the Sponsor determines that the size of the Trust Property in relation to the expenses of the Trust makes it unreasonable or imprudent to continue the affairs of the Trust; (x) the Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, or will not be treated, as a grantor trust under the Code; (xi) 60 days have elapsed since DTC or another Depository has ceased to act as depository with respect to the Shares and the Sponsor has not identified another Depository that is willing to act in such capacity; (xii) the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does not appoint a successor trustee within one hundred and eighty (180) days; or (xiii) the Sponsor determines, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs of the Trust. (c) The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Beneficial Owner (as long as such Beneficial Owner is not the sole Beneficial Owner of the Trust) shall not result in the termination of the Trust, and such Beneficial Owner, his or her estate, custodian or personal representative shall have no right to a redemption of such Beneficial Owner’s Shares. Each Beneficial Owner (and any assignee thereof) expressly agrees that in the event of his or her death, he or she waives on behalf of himself or herself and his or her estate, and he or she directs the legal representative of his or her estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the Trust Property and any right to an audit or examination of the books of account for the Trust, except for such rights as are set forth in Article VI hereof relating to the books of account and reports of the Trust.

Events Requiring Dissolution of the Trust. (a) The Trust shall dissolve at any time upon the happening of any of the following events: (i) a U.S. federal or state regulator requires the Trust to shut down or forces the Trust to liquidate its bitcoins ether or seizes, impounds or otherwise restricts access to the Trust PropertyEstate; (ii) any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of bitcoin for purposes of determining the net asset value of the Trust; (iii) any ongoing event exists that either prevents the Trust from converting or makes impractical the Trust’s reasonable efforts to convert bitcoins ether to U.S. Dollars; or; (iviii) a certificate of dissolution or revocation of the Sponsor’s charter is filed (and ninety (90) days have passed after the date of notice to the Sponsor of revocation without a reinstatement of the Sponsor’s charter) or the withdrawal, removal, adjudication or admission of bankruptcy or insolvency of the Sponsor (each of the foregoing events an “Event of Withdrawal”) has occurred unless (i) at the time there is at least one remaining Sponsor or (ii) within ninety (90) days of such Event of Withdrawal, Withdrawal Shareholders holding at least a majority (over 50%) of the Trustee agrees Shares agree in writing to continue the affairs of the Trust and to select, effective as of the date of such event, one or more successor Sponsors; or (iv) Shareholders holding at least 50% of the outstanding Shares, not including affiliated parties of the Sponsor for purposes of calculation of such percentage, notify the Sponsor that they elect to dissolve the Trust, notice of which is sent to the Sponsor not less than ninety (90) business days prior to the effective date of dissolution. (b) The Sponsor may, in its sole discretion, dissolve the Trust if any of the following events occur: (i) the Shares are delisted from the Exchange and are not approved for listing on another national securities exchange within five Business Days of their delisting; (ii) the SEC determines that the Trust is an investment company required to be registered under the Investment Company Act of 1940; (iiiii) the CFTC determines that the Trust is a commodity pool under the Commodity Exchange Act; (iviii) the Trust is determined to be a “money service business” under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder; (viv) the Trust is required to obtain a license or make a registration under any state law regulating money transmitters, money services businesses, providers of prepaid or stored value or similar entities, or virtual currency businesses; (viv) the Trust becomes insolvent or bankrupt; (viivi) the Bitcoin Custodian, cash custodian or prime broker Custodian resigns or is removed without replacement; (viiivii) all of the Trust’s bitcoins assets are sold; (ixviii) the Sponsor determines that the size of the Trust Property Estate in relation to the expenses of the Trust makes it unreasonable or imprudent to continue the affairs of the Trust; (xix) the Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, or will not be treated, as a grantor trust under the Code; (xi) 60 days have elapsed since DTC or another Depository has ceased to act as depository with respect to the Shares and the Sponsor has not identified another Depository that is willing to act in such capacity; (xiix) the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does not appoint a successor trustee within one hundred and eighty (180) days; or (xiiixi) the Sponsor determines, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs of the Trust. (c) The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Beneficial Owner Shareholder (as long as such Beneficial Owner Shareholder is not the sole Beneficial Owner Shareholder of the Trust) shall not result in the termination of the Trust, and such Beneficial OwnerShareholder, his or her estate, custodian or personal representative shall have no right to a redemption of such Beneficial OwnerShareholder’s Shares. Each Beneficial Owner Shareholder (and any assignee thereof) expressly agrees that in the event of his or her death, he or she waives on behalf of himself or herself and his or her estate, and he or she directs the legal representative of his or her estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the Trust Property Estate and any right to an audit or examination of the books of account for the Trust, except for such rights as are set forth in Article VI VIII hereof relating to the books of account and reports of the Trust.

Events Requiring Dissolution of the Trust. (a) The Trust shall dissolve at any time upon the happening of any of the following events: (i) a U.S. federal or state regulator requires the Trust to shut down or forces the Trust to liquidate its bitcoins XRP or seizes, impounds or otherwise restricts access to the Trust PropertyEstate; (ii) any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of bitcoin for purposes of determining the net asset value of the Trust; (iii) any ongoing event exists that either prevents the Trust from converting or makes impractical the Trust’s reasonable efforts to convert bitcoins XRP to U.S. Dollars; or; (iviii) a certificate of dissolution or revocation of the Sponsor’s charter is filed (and ninety (90) days have passed after the date of notice to the Sponsor of revocation without a reinstatement of the Sponsor’s charter) or the withdrawal, removal, adjudication or admission of bankruptcy or insolvency of the Sponsor (each of the foregoing events an “Event of Withdrawal”) has occurred unless (i) at the time there is at least one remaining Sponsor or (ii) within ninety (90) days of such Event of Withdrawal, Withdrawal Shareholders holding at least a majority (over 50%) of the Trustee agrees Shares agree in writing to continue the affairs of the Trust and to select, effective as of the date of such event, one or more successor Sponsors; or (iv) Shareholders holding at least 50% of the outstanding Shares, not including affiliated parties of the Sponsor for purposes of calculation of such percentage, notify the Sponsor that they elect to dissolve the Trust, notice of which is sent to the Sponsor not less than ninety (90) business days prior to the effective date of dissolution. (b) The Sponsor may, in its sole discretion, dissolve the Trust if any of the following events occur: (i) the Shares are delisted from the Exchange and are not approved for listing on another national securities exchange within five Business Days of their delisting; (ii) the SEC determines that the Trust is an investment company required to be registered under the Investment Company Act of 1940; (iiiii) the CFTC determines that the Trust is a commodity pool under the Commodity Exchange Act; (iviii) the Trust is determined to be a “money service business” under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder; (viv) the Trust is required to obtain a license or make a registration under any state law regulating money transmitters, money services businesses, providers of prepaid or stored value or similar entities, or virtual currency businesses; (viv) the Trust becomes insolvent or bankrupt; (viivi) the Bitcoin Custodian, cash custodian or prime broker Custodian resigns or is removed without replacement; (viiivii) all of the Trust’s bitcoins assets are sold; (ixviii) the Sponsor determines that the size of the Trust Property Estate in relation to the expenses of the Trust makes it unreasonable or imprudent to continue the affairs of the Trust; (xix) the Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, or will not be treated, as a grantor trust under the Code; (xi) 60 days have elapsed since DTC or another Depository has ceased to act as depository with respect to the Shares and the Sponsor has not identified another Depository that is willing to act in such capacity; (xiix) the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does not appoint a successor trustee within one hundred and eighty (180) days; or (xiiixi) the Sponsor determines, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs of the Trust. (c) The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Beneficial Owner Shareholder (as long as such Beneficial Owner Shareholder is not the sole Beneficial Owner Shareholder of the Trust) shall not result in the termination of the Trust, and such Beneficial OwnerShareholder, his or her estate, custodian or personal representative shall have no right to a redemption of such Beneficial OwnerShareholder’s Shares. Each Beneficial Owner Shareholder (and any assignee thereof) expressly agrees that in the event of his or her death, he or she waives on behalf of himself or herself and his or her estate, and he or she directs the legal representative of his or her estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the Trust Property Estate and any right to an audit or examination of the books of account for the Trust, except for such rights as are set forth in Article VI VIII hereof relating to the books of account and reports of the Trust.

Events Requiring Dissolution of the Trust. (a) The Trust shall dissolve at any time upon the happening of any of the following events: (i) a U.S. federal or state regulator requires the Trust to shut down or forces the Trust to liquidate its bitcoins HBAR or seizes, impounds or otherwise restricts access to the Trust PropertyEstate; (ii) any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of bitcoin for purposes of determining the net asset value of the Trust; (iii) any ongoing event exists that either prevents the Trust from converting or makes impractical the Trust’s reasonable efforts to convert bitcoins HBAR to U.S. Dollars; or; (iviii) a certificate of dissolution or revocation of the Sponsor’s charter is filed (and ninety (90) days have passed after the date of notice to the Sponsor of revocation without a reinstatement of the Sponsor’s charter) or the withdrawal, removal, adjudication or admission of bankruptcy or insolvency of the Sponsor (each of the foregoing events an “Event of Withdrawal”) has occurred unless (i) at the time there is at least one remaining Sponsor or (ii) within ninety (90) days of such Event of Withdrawal, Withdrawal Shareholders holding at least a majority (over 50%) of the Trustee agrees Shares agree in writing to continue the affairs of the Trust and to select, effective as of the date of such event, one or more successor Sponsors; or (iv) Shareholders holding at least 50% of the outstanding Shares, not including affiliated parties of the Sponsor for purposes of calculation of such percentage, notify the Sponsor that they elect to dissolve the Trust, notice of which is sent to the Sponsor not less than ninety (90) business days prior to the effective date of dissolution. (b) The Sponsor may, in its sole discretion, dissolve the Trust if any of the following events occur: (i) the Shares are delisted from the Exchange and are not approved for listing on another national securities exchange within five Business Days of their delisting; (ii) the SEC determines that the Trust is an investment company required to be registered under the Investment Company Act of 1940; (iiiii) the CFTC determines that the Trust is a commodity pool under the Commodity Exchange Act; (iviii) the Trust is determined to be a “money service business” under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder; (viv) the Trust is required to obtain a license or make a registration under any state law regulating money transmitters, money services businesses, providers of prepaid or stored value or similar entities, or virtual currency businesses; (viv) the Trust becomes insolvent or bankrupt; (viivi) the Bitcoin Custodian, cash custodian or prime broker Custodian resigns or is removed without replacement; (viiivii) all of the Trust’s bitcoins assets are sold; (ixviii) the Sponsor determines that the size of the Trust Property Estate in relation to the expenses of the Trust makes it unreasonable or imprudent to continue the affairs of the Trust; (xix) the Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, or will not be treated, as a grantor trust under the Code; (xi) 60 days have elapsed since DTC or another Depository has ceased to act as depository with respect to the Shares and the Sponsor has not identified another Depository that is willing to act in such capacity; (xiix) the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does not appoint a successor trustee within one hundred and eighty (180) days; or (xiiixi) the Sponsor determines, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs of the Trust. (c) The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Beneficial Owner Shareholder (as long as such Beneficial Owner Shareholder is not the sole Beneficial Owner Shareholder of the Trust) shall not result in the termination of the Trust, and such Beneficial OwnerShareholder, his or her estate, custodian or personal representative shall have no right to a redemption of such Beneficial OwnerShareholder’s Shares. Each Beneficial Owner Shareholder (and any assignee thereof) expressly agrees that in the event of his or her death, he or she waives on behalf of himself or herself and his or her estate, and he or she directs the legal representative of his or her estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the Trust Property Estate and any right to an audit or examination of the books of account for the Trust, except for such rights as are set forth in Article VI VIII hereof relating to the books of account and reports of the Trust.

Events Requiring Dissolution of the Trust. (a) The Trust shall dissolve at any time upon the happening of any of the following events: (i) a U.S. federal or state regulator requires the Trust to shut down or forces the Trust to liquidate its bitcoins bitcoin or seizes, impounds or otherwise restricts access to the Trust PropertyEstate; (ii) any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of bitcoin for purposes of determining the net asset value of the Trust; (iii) any ongoing event exists that either prevents the Trust from converting or makes impractical the Trust’s reasonable efforts to convert bitcoins bitcoin to U.S. Dollars; or; (iviii) a certificate of dissolution or revocation of the Sponsor’s charter is filed (and ninety (90) days have passed after the date of notice to the Sponsor of revocation without a reinstatement of the Sponsor’s charter) or the withdrawal, removal, adjudication or admission of bankruptcy or insolvency of the Sponsor (each of the foregoing events an “Event of Withdrawal”) has occurred unless (i) at the time there is at least one remaining Sponsor or (ii) within ninety (90) days of such Event of Withdrawal, Withdrawal Shareholders holding at least a majority (over 50%) of the Trustee agrees Shares agree in writing to continue the affairs of the Trust and to select, effective as of the date of such event, one or more successor Sponsors; or (iv) Shareholders holding at least 50% of the outstanding Shares, not including affiliated parties of the Sponsor for purposes of calculation of such percentage, notify the Sponsor that they elect to dissolve the Trust, notice of which is sent to the Sponsor not less than ninety (90) business days prior to the effective date of dissolution. (b) The Sponsor may, in its sole discretion, dissolve the Trust if any of the following events occur: (i) the Shares are delisted from the Exchange and are not approved for listing on another national securities exchange within five Business Days of their delisting; (ii) the SEC determines that the Trust is an investment company required to be registered under the Investment Company Act of 1940; (iiiii) the CFTC determines that the Trust is a commodity pool under the Commodity Exchange Act; (iviii) the Trust is determined to be a “money service business” under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder; (viv) the Trust is required to obtain a license or make a registration under any state law regulating money transmitters, money services businesses, providers of prepaid or stored value or similar entities, or virtual currency businesses; (viv) the Trust becomes insolvent or bankrupt; (viivi) the Bitcoin Custodian, cash custodian or prime broker Custodian resigns or is removed without replacement; (viiivii) all of the Trust’s bitcoins assets are sold; (ixviii) the Sponsor determines that the size of the Trust Property Estate in relation to the expenses of the Trust makes it unreasonable or imprudent to continue the affairs of the Trust; (xix) the Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, or will not be treated, as a grantor trust under the Code; (xi) 60 days have elapsed since DTC or another Depository has ceased to act as depository with respect to the Shares and the Sponsor has not identified another Depository that is willing to act in such capacity; (xiix) the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does not appoint a successor trustee within one hundred and eighty (180) days; or (xiiixi) the Sponsor determines, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs of the Trust. (c) The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Beneficial Owner Shareholder (as long as such Beneficial Owner Shareholder is not the sole Beneficial Owner Shareholder of the Trust) shall not result in the termination of the Trust, and such Beneficial OwnerShareholder, his or her estate, custodian or personal representative shall have no right to a redemption of such Beneficial OwnerShareholder’s Shares. Each Beneficial Owner Shareholder (and any assignee thereof) expressly agrees that in the event of his or her death, he or she waives on behalf of himself or herself and his or her estate, and he or she directs the legal representative of his or her estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the Trust Property Estate and any right to an audit or examination of the books of account for the Trust, except for such rights as are set forth in Article VI VIII hereof relating to the books of account and reports of the Trust.

Events Requiring Dissolution of the Trust. (a) The Trust shall dissolve at any time upon the happening of any of the following events: (i) a U.S. federal or state regulator requires the Trust to shut down or forces the Trust to liquidate its bitcoins SOL or seizes, impounds or otherwise restricts access to the Trust Property;Property; (ii) any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of bitcoin SOL for purposes of determining the net asset value of the Trust; (iii) any ongoing event exists that either prevents the Trust from converting or makes impractical the Trust’s reasonable efforts to convert bitcoins SOL to U.S. Dollars; or (iv) a certificate of dissolution or revocation of the Sponsor’s charter is filed (and ninety (90) days have passed after the date of notice to the Sponsor of revocation without a reinstatement of the Sponsor’s charter) or the withdrawal, removal, adjudication or admission of bankruptcy or insolvency of the Sponsor (each of the foregoing events an “Event of Withdrawal”) has occurred unless (i) at the time there is at least one remaining Sponsor or (ii) within ninety (90) days of such Event of Withdrawal, the Trustee agrees in writing to continue the affairs of the Trust and to select, effective as of the date of such event, one or more successor Sponsors. (b) The Sponsor may, in its sole discretion, dissolve the Trust if any of the following events occur: (i) the Shares are delisted from the Exchange and are not approved for listing on another national securities exchange within five Business Days of their delisting;delisting; (ii) the SEC determines that the Trust is an investment company required to be registered under the Investment Company Act of 1940;1940; (iii) the CFTC determines that the Trust is a commodity pool under the Commodity Exchange Act;Act; (iv) the Trust is determined to be a “money service business” under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder; (v) the Trust is required to obtain a license or make a registration under any state law regulating money transmitters, money services businesses, providers of prepaid or stored value or similar entities, or virtual currency businesses;businesses; (vi) the Trust becomes insolvent or bankrupt;bankrupt; (vii) the Bitcoin SOL Custodian, cash custodian or prime broker resigns or is removed without replacement;replacement; (viii) all of the Trust’s bitcoins SOL are soldsold or transferred out of the Trust; (ix) the Sponsor determines that the size of the Trust Property in relation to the expenses of the Trust makes it unreasonable or imprudent to continue the affairs of the Trust;Trust; (x) the Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, or will not be treated, as a grantor trust under the Code;Code; (xi) 60 days have elapsed since DTC or another Depository has ceased to act as depository with respect to the Shares and the Sponsor has not identified another Depository that is willing to act in such capacity;capacity; (xii) the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does not appoint a successor trustee within one hundred and eighty (180) days; or (xiii) the Sponsor determines, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs of the Trust. (c) The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Beneficial Owner (as long as such Beneficial Owner is not the sole Beneficial Owner of the Trust) shall not result in the termination of the Trust, and such Beneficial Owner, his or her estate, custodian or personal representative shall have no right to a redemption of such Beneficial Owner’s Shares. Each Beneficial Owner (and any assignee thereof) expressly agrees that in the event of his or her death, he or she waives on behalf of himself or herself and his or her estate, and he or she directs the legal representative of his or her estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the Trust Property and any right to an audit or examination of the books of account for the Trust, except for such rights as are set forth in Article VI hereof relating to the books of account and reports of the Trust.

Events Requiring Dissolution of the Trust. (a) The Trust shall dissolve at any time upon the happening of any of the following events: (i) a U.S. federal or state regulator requires the Trust to shut down or forces the Trust to liquidate its bitcoins SOL or seizes, impounds or otherwise restricts access to the Trust PropertyEstate; (ii) any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of bitcoin for purposes of determining the net asset value of the Trust; (iii) any ongoing event exists that either prevents the Trust from converting or makes impractical the Trust’s reasonable efforts to convert bitcoins SOL to U.S. Dollars; or; (iviii) a certificate of dissolution or revocation of the Sponsor’s charter is filed (and ninety (90) days have passed after the date of notice to the Sponsor of revocation without a reinstatement of the Sponsor’s charter) or the withdrawal, removal, adjudication or admission of bankruptcy or insolvency of the Sponsor (each of the foregoing events an “Event of Withdrawal”) has occurred unless (i) at the time there is at least one remaining Sponsor or (ii) within ninety (90) days of such Event of Withdrawal, Withdrawal Shareholders holding at least a majority (over 50%) of the Trustee agrees Shares agree in writing to continue the affairs of the Trust and to select, effective as of the date of such event, one or more successor Sponsors; or (iv) Shareholders holding at least 50% of the outstanding Shares, not including affiliated parties of the Sponsor for purposes of calculation of such percentage, notify the Sponsor that they elect to dissolve the Trust, notice of which is sent to the Sponsor not less than ninety (90) business days prior to the effective date of dissolution. (b) The Sponsor may, in its sole discretion, dissolve the Trust if any of the following events occur: (i) the Shares are delisted from the Exchange and are not approved for listing on another national securities exchange within five Business Days of their delisting; (ii) the SEC determines that the Trust is an investment company required to be registered under the Investment Company Act of 1940; (iiiii) the CFTC determines that the Trust is a commodity pool under the Commodity Exchange Act; (iviii) the Trust is determined to be a “money service business” under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder; (viv) the Trust is required to obtain a license or make a registration under any state law regulating money transmitters, money services businesses, providers of prepaid or stored value or similar entities, or virtual currency businesses; (viv) the Trust becomes insolvent or bankrupt; (viivi) the Bitcoin Custodian, cash custodian or prime broker Custodian resigns or is removed without replacement; (viiivii) all of the Trust’s bitcoins assets are sold; (ixviii) the Sponsor determines that the size of the Trust Property Estate in relation to the expenses of the Trust makes it unreasonable or imprudent to continue the affairs of the Trust; (xix) the Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, or will not be treated, as a grantor trust under the Code; (xi) 60 days have elapsed since DTC or another Depository has ceased to act as depository with respect to the Shares and the Sponsor has not identified another Depository that is willing to act in such capacity; (xiix) the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does not appoint a successor trustee within one hundred and eighty (180) days; or (xiiixi) the Sponsor determines, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs of the Trust. (c) The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Beneficial Owner Shareholder (as long as such Beneficial Owner Shareholder is not the sole Beneficial Owner Shareholder of the Trust) shall not result in the termination of the Trust, and such Beneficial OwnerShareholder, his or her estate, custodian or personal representative shall have no right to a redemption of such Beneficial OwnerShareholder’s Shares. Each Beneficial Owner Shareholder (and any assignee thereof) expressly agrees that in the event of his or her death, he or she waives on behalf of himself or herself and his or her estate, and he or she directs the legal representative of his or her estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the Trust Property Estate and any right to an audit or examination of the books of account for the Trust, except for such rights as are set forth in Article VI VIII hereof relating to the books of account and reports of the Trust.

Events Requiring Dissolution of the Trust. (a) The Trust shall dissolve at any time upon the happening of any of the following events: (i) a U.S. federal or state regulator requires the Trust to shut down or forces the Trust to liquidate its bitcoins ether or seizes, impounds or otherwise restricts access to the Trust Property; (ii) any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of bitcoin ether for purposes of determining the net asset value of the Trust; (iii) any ongoing event exists that either prevents the Trust from converting or makes impractical the Trust’s reasonable efforts to convert bitcoins ether to U.S. Dollars; or (iv) a certificate of dissolution or revocation of the Sponsor’s charter is filed (and ninety (90) days have passed after the date of notice to the Sponsor of revocation without a reinstatement of the Sponsor’s charter) or the withdrawal, removal, adjudication or admission of bankruptcy or insolvency of the Sponsor (each of the foregoing events an “Event of Withdrawal”) has occurred unless (i) at the time there is at least one remaining Sponsor or (ii) within ninety (90) days of such Event of Withdrawal, the Trustee agrees in writing to continue the affairs of the Trust and to select, effective as of the date of such event, one or more successor Sponsors. (b) The Sponsor may, in its sole discretion, dissolve the Trust if any of the following events occur: (i) the Shares are delisted from the Exchange and are not approved for listing on another national securities exchange within five Business Days of their delisting; (ii) the SEC determines that the Trust is an investment company required to be registered under the Investment Company Act of 1940; (iii) the CFTC determines that the Trust is a commodity pool under the Commodity Exchange Act; (iv) the Trust is determined to be a “money service business” under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder; (v) the Trust is required to obtain a license or make a registration under any state law regulating money transmitters, money services businesses, providers of prepaid or stored value or similar entities, or virtual currency businesses; (vi) the Trust becomes insolvent or bankrupt; (vii) the Bitcoin Ether Custodian, cash custodian or prime broker resigns or is removed without replacement; (viii) all of the Trust’s bitcoins ether are sold; (ix) the Sponsor determines that the size of the Trust Property in relation to the expenses of the Trust makes it unreasonable or imprudent to continue the affairs of the Trust; (x) the Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, or will not be treated, as a grantor trust under the Code; (xi) 60 days have elapsed since DTC or another Depository has ceased to act as depository with respect to the Shares and the Sponsor has not identified another Depository that is willing to act in such capacity; (xii) the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does not appoint a successor trustee within one hundred and eighty (180) days; or (xiii) the Sponsor determines, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs of the Trust. (c) The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Beneficial Owner (as long as such Beneficial Owner is not the sole Beneficial Owner of the Trust) shall not result in the termination of the Trust, and such Beneficial Owner, his or her estate, custodian or personal representative shall have no right to a redemption of such Beneficial Owner’s Shares. Each Beneficial Owner (and any assignee thereof) expressly agrees that in the event of his or her death, he or she waives on behalf of himself or herself and his or her estate, and he or she directs the legal representative of his or her estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the Trust Property and any right to an audit or examination of the books of account for the Trust, except for such rights as are set forth in Article VI hereof relating to the books of account and reports of the Trust.

Events Requiring Dissolution of the Trust. (a) The Trust shall dissolve at any time upon the happening of any of the following events: (i) a U.S. federal or state regulator requires the Trust to shut down or forces the Trust to liquidate its bitcoins Bitcoins or seizes, impounds or otherwise restricts access to the Trust PropertyEstate; (ii) any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of bitcoin for purposes of determining the net asset value of the TrustBitcoin Index Price; (iii) any ongoing event exists that either prevents the Trust from converting or makes impractical the Trust’s reasonable efforts to convert bitcoins Bitcoins to U.S. Dollars; or (iv) a certificate of dissolution or revocation of the Sponsor’s charter is filed (and ninety (90) days have passed after the date of notice to the Sponsor of revocation without a reinstatement of the Sponsor’s charter) or the withdrawal, removal, adjudication or admission of bankruptcy or insolvency of the Sponsor (each of the foregoing events an “Event of Withdrawal”) has occurred unless (i) at the time there is at least one remaining Sponsor or (ii) within ninety (90) days of such Event of Withdrawal, Withdrawal Shareholders holding at least a majority (over 50%) of the Trustee agrees Shares agree in writing to continue the affairs of the Trust and to select, effective as of the date of such event, one or more successor Sponsors. (b) The Sponsor may, in its sole discretion, dissolve the Trust if any of the following events occur: (i) the Shares are delisted from the Exchange and are not approved for listing on another national securities exchange within five Business Days of their delisting; (ii) the SEC determines that the Trust is an investment company required to be registered under the Investment Company Act of 1940; (iiiii) the CFTC determines that the Trust is a commodity pool under the Commodity Exchange Act; (iviii) the Trust is determined to be a “money service business” under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder; (viv) the Trust is required to obtain a license or make a registration under any state law regulating money transmitters, money services businesses, providers of prepaid or stored value or similar entities, or virtual currency businesses; (viv) the Trust becomes insolvent or bankrupt; (viivi) the Bitcoin Custodian, cash custodian or prime broker Custodian resigns or is removed without replacement; (viiivii) all of the Trust’s bitcoins Bitcoins are sold; (ixviii) the Sponsor determines that the size of the Trust Property Estate in relation to the expenses of the Trust makes it unreasonable or imprudent to continue the affairs of the Trust; (xix) the Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, or will not be treated, as a grantor trust under the Code; (xi) 60 days have elapsed since DTC or another Depository has ceased to act as depository with respect to the Shares and the Sponsor has not identified another Depository that is willing to act in such capacity; (xiix) the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does not appoint a successor trustee within one hundred and eighty (180) days; or (xiiixi) the Sponsor determines, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs of the Trust. (c) The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Beneficial Owner Shareholder (as long as such Beneficial Owner Shareholder is not the sole Beneficial Owner Shareholder of the Trust) shall not result in the termination of the Trust, and such Beneficial OwnerShareholder, his or her estate, custodian or personal representative shall have no right to a redemption of such Beneficial OwnerShareholder’s Shares. Each Beneficial Owner Shareholder (and any assignee thereof) expressly agrees that in the event of his or her death, he or she waives on behalf of himself or herself and his or her estate, and he or she directs the legal representative of his or her estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the Trust Property Estate and any right to an audit or examination of the books of account for the Trust, except for such rights as are set forth in Article VI VIII hereof relating to the books of account and reports of the Trust.

Events Requiring Dissolution of the Trust. (a) The Trust shall dissolve at any time upon the happening of any of the following events: (i) a U.S. federal or state regulator requires the Trust to shut down or forces the Trust to liquidate its bitcoins Ether or seizes, impounds or otherwise restricts access to the Trust PropertyEstate; (ii) any ongoing event exists that either prevents the Trust from making or makes impractical the Trust’s reasonable efforts to make a fair determination of the price of bitcoin for purposes of determining the net asset value of the TrustIndex Price; (iii) any ongoing event exists that either prevents the Trust from converting or makes impractical the Trust’s reasonable efforts to convert bitcoins Ether to U.S. Dollars; or (iv) a certificate of dissolution or revocation of the Sponsor’s charter is filed (and ninety (90) days have passed after the date of notice to the Sponsor of revocation without a reinstatement of the Sponsor’s charter) or the withdrawal, removal, adjudication or admission of bankruptcy or insolvency of the Sponsor (each of the foregoing events an “Event of Withdrawal”) has occurred unless (i) at the time there is at least one remaining Sponsor or (ii) within ninety (90) days of such Event of Withdrawal, Withdrawal Shareholders holding at least a majority (over 50%) of the Trustee agrees Shares agree in writing to continue the affairs of the Trust and to select, effective as of the date of such event, one or more successor Sponsors. (b) The Sponsor may, in its sole discretion, dissolve the Trust if any of the following events occur: (i) the Shares are delisted from the Exchange and are not approved for listing on another national securities exchange within five Business Days of their delisting; (ii) the SEC determines that the Trust is an investment company required to be registered under the Investment Company Act of 1940; (iiiii) the CFTC determines that the Trust is a commodity pool under the Commodity Exchange Act; (iviii) the Trust is determined to be a “money service business” under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder; (viv) the Trust is required to obtain a license or make a registration under any state law regulating money transmitters, money services businesses, providers of prepaid or stored value or similar entities, or virtual currency businesses; (viv) the Trust becomes insolvent or bankrupt; (viivi) the Bitcoin Custodian, cash custodian or prime broker Custodian resigns or is removed without replacement; (viiivii) all of the Trust’s bitcoins Ether are sold; (ixviii) the Sponsor determines that the size of the Trust Property Estate in relation to the expenses of the Trust makes it unreasonable or imprudent to continue the affairs of the Trust; (xix) the Sponsor receives notice from the IRS or from counsel for the Trust or the Sponsor that the Trust fails to qualify for treatment, or will not be treated, as a grantor trust under the Code; (xi) 60 days have elapsed since DTC or another Depository has ceased to act as depository with respect to the Shares and the Sponsor has not identified another Depository that is willing to act in such capacity; (xiix) the Trustee notifies the Sponsor of the Trustee’s election to resign and the Sponsor does not appoint a successor trustee within one hundred and eighty (180) days; or (xiiixi) the Sponsor determines, in its sole discretion, that it is desirable or advisable for any reason to discontinue the affairs of the Trust. (c) . The death, legal disability, bankruptcy, insolvency, dissolution, or withdrawal of any Beneficial Owner Shareholder (as long as such Beneficial Owner Shareholder is not the sole Beneficial Owner Shareholder of the Trust) shall not result in the termination of the Trust, and such Beneficial OwnerShareholder, his or her estate, custodian or personal representative shall have no right to a redemption of such Beneficial OwnerShareholder’s Shares. Each Beneficial Owner Shareholder (and any assignee thereof) expressly agrees that in the event of his or her death, he or she waives on behalf of himself or herself and his or her estate, and he or she directs the legal representative of his or her estate and any person interested therein to waive the furnishing of any inventory, accounting or appraisal of the Trust Property Estate and any right to an audit or examination of the books of account for the Trust, except for such rights as are set forth in Article VI VIII hereof relating to the books of account and reports of the Trust.