Common use of Authority of Sponsor Clause in Contracts

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Trust, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the Registration Statement and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders and expenses of each Fund; (i) To make any elections on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Trust or the applicable Fund; and (j) In the sole discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Trust, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares Units and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the any Registration Statement and supplements and amendments theretothereto with any applicable regulators; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the any Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders Unitholders and expenses of each Fund; (i) To Subject to section 2.5(a), to make any elections on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law law, as the Sponsor shall determine to be in the best interests of the Trust or the applicable FundTrust; and (j) In the sole discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust AgreementDeclaration of Trust, and except as limited, restricted or prohibited by the express provisions of this Declaration of Trust Agreement (e.g., see Sections 1.02 and 1.04) or the Delaware Trust StatuteAct, the Sponsor shall have and may exercise on behalf of the TrustTrust and each Series, all powers and rights the Sponsor, in its sole discretion, deems necessary, proper, convenient or advisable to effectuate and carry out the purposes, business activities and objectives of the TrustTrust and each Series, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust and each Series to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activitiesactivities and administration, and the activities and administration of each Series, including, but not limited to contracts with third parties for services; provided, however, that such services may be performed by an Affiliate or Affiliates of the Sponsor so long as the Sponsor has made a good faith determination that the terms and conditions of the agreement pursuant to which such Affiliate is to perform services for the Trust are commercially reasonable; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust or each Series with appropriate custodial, banking and savings or other institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s or a Series’ business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s Sponsor‘s name shall be deemed executed and accepted on behalf of the Trust or a Series, as applicable, by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s Gold and Trust Estate Property, or any portion thereof thereof, in any manner consistent with the provisions of this Trust AgreementDeclaration of Trust; (d) To supervise the preparation and filing of the Registration Statement and supplements the Trust’s prospectus (the “Prospectus”) and amendments theretoto execute the Registration Statement on behalf of the Trust; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders and pay or authorize the payment of the expenses of the Trust and each FundSeries; (f) To hold or dispose of Trust Property and to subscribe for, purchase or otherwise acquire, own, hold, pledge, sell, assign, transfer, exchange, distribute, or otherwise deal in Trust Property, and to do any and all acts and things for the maintenance, preservation, and protection of Trust Property; (g) To exercise powers and right of subscription or otherwise with respect to the ownership of Trust Property; (h) To hold Gold or property in a form not indicating that it is Trust Property, whether in bearer, unregistered or other negotiable form, or in its own name or in the name of a custodian or subcustodian or a nominee or nominees or otherwise or to authorize the custodian or a subcustodian or a nominee or nominees to deposit the same in a securities depository; (i) To make any elections on behalf litigate, compromise, arbitrate, settle or otherwise adjust claims in favor of or against the Trust and any Fund under the Codeor a Series, or any other applicable U.S. federal or state tax law as the Sponsor shall determine matter in controversy, including but not limited to be in the best interests of the Trust or the applicable Fundclaims for taxes; and (j) In To contract with any Person(s) appointing such Person(s), including any Affiliate, to provide services to the sole discretion Trust or any Series, including without limitation, accountants, administrators, auditors, gold delivery providers, index providers, transfer agents, shareholder servicing agents, marketing agents or other agents for the Trust or any Series. (k) To enter into the Sponsor Agreement on terms and conditions acceptable to the Sponsor. (l) To serve as Commodity Pool Operator for the Funds or appoint any Person, including any Affiliate, to serve as Commodity Pool Operator for the Funds. (m) The agreement pursuant to which an Affiliate is to perform services for the Trust shall be terminable by the Trust without penalty upon discovery of acts of fraud or willful malfeasance of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsorsin performing its duties thereunder.

Authority of Sponsor. In addition to to, and not in limitation of of, any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have have, and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives purposes of the Trust, which powers and rights shall include, without limitation, the following: (a) To direct the Trustee pursuant to this Agreement and to enter into, execute, accept, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instrumentsinstruments incidental to the Trust’s purposes, and to do and perform all such things acts as may be in furtherance of Trust purposes the Trust’s purposes, or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activities; (b) To establishShares, maintainincluding, deposit intobut not limited to, sign checks and/or otherwise draw upon accounts on behalf of causing the Trust to enter into (i) contracts or agreements with appropriate banking and savings institutionsthe Sponsor or an Affiliate, and execute and/or accept provided that any instrument such contract or agreement incidental to does not conflict with the Trust’s business provisions of Section 1.5(b) of this Trust Agreement, Section 6.4 of this Trust Agreement or clause (ii) of this Section 6.2(a) and in furtherance of its purposes(ii) contracts with third parties for various services, it being understood that any such document or instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor (b) To establish, maintain, deposit into, and sign checks and/or otherwise draw upon, accounts on behalf of the Trust with appropriate banking and savings institutions; (c) To deposit, withdraw, pay, retain and distribute each Fund’s the Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the Registration Statement Prospectus and supplements and amendments thereto; (e) To adopt, implement make or amend, from time authorize the making of distributions to time, such disclosure the Shareholders and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities lawsexpenses of the Trust out of the Trust Estate; (f) To make any necessary determination or decision in connection with cause the preparation Trust to appoint an agent to act on behalf of the Trust’s financial statements and amendments thereto, and the ProspectusShareholders pursuant to Section 7.5; (g) To prepare, file or cause to be prepared, and distributefile, if applicableor cause to be filed, an application to register any periodic reports Shares under the Securities Act and/or the Exchange Act and to take any other action and execute and deliver any certificates or updates documents that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereundernecessary to effectuate such registration; (h) To pay prepare, or authorize cause to be prepared, and file, or cause to be filed, an application to enable the payment of distributions Shares to the Shareholders be listed, quoted or traded on any Secondary Market and expenses of each Fundto take any other action and execute and deliver any certificates or documents that may be necessary to effectuate such listing, quotation or trading; (i) To make appoint one or more Custodians, banks or other security vendors, including itself or an Affiliate, to provide for custodian security services, or to determine not to appoint any elections on behalf of Custodian, bank or other security vendors, and to otherwise take any action with respect to the Custodians, banks or other security vendors to safeguard the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Trust or the applicable Fund; andEstate; (j) In the sole and absolute discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors; (k) To delegate those of its duties hereunder as it shall determine from time to time to one or more Distributors, and add any additional service providers, if needed and as applicable; (l) To perform such other services as the Sponsor believes that the Trust may from time to time require; (m) Interact with the Depository as required; and (n) In general, but subject to Section 1.5 and Section 6.4 of this Trust Agreement, to do everything necessary, suitable or proper for the accomplishment of any purpose or the furtherance of any power herein set forth, either alone or in association with others, and to do every other act or thing incidental or appurtenant to, or growing out of or connected with, the aforesaid purposes or powers.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Trust, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares units and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the any Registration Statement and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the any Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders Unitholders and expenses of each Fund; (i) To Subject to section 2.5(a), to make any elections on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law law, as the Sponsor shall determine to be in the best interests of the Trust or the applicable FundTrust; and (j) In the sole discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Trust, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares Units and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the any Registration Statement and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the any Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934Act, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders Unitholders and expenses of each Fund; (i) To Subject to section 2.5(a), to make any elections on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law law, as the Sponsor shall determine to be in the best interests of the Trust or the applicable FundTrust; and (j) In the sole discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors.

Authority of Sponsor. In addition to to, and not in limitation of of, any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have have, and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives purposes of the Trust, which powers and rights shall include, without limitation, the following: (a) To direct the Trustee pursuant to this Agreement and to enter into, execute, accept, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instrumentsinstruments incidental to the Trust’s purposes, and to do and perform all such things acts as may be in furtherance of Trust purposes the Trust’s purposes, or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activities; (b) To establishShares, maintainincluding, deposit intobut not limited to, sign checks and/or otherwise draw upon accounts on behalf of causing the Trust to enter into (i) contracts or agreements with appropriate banking and savings institutionsthe Sponsor or an Affiliate, and execute and/or accept provided that any instrument such contract or agreement incidental to does not conflict with the Trust’s business provisions of Section 1.5(b) of this Trust Agreement, Section 6.4 of this Trust Agreement or the proviso following clause (ii) of this Section 6.2(a) and in furtherance of its purposes(ii) contracts with third parties for various services, it being understood that any such document or instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor, provided, however, that such services may be performed by an Affiliate or Affiliates of the Sponsor so long as the Sponsor has made a good faith determination that the Affiliate that it proposes to engage to perform such services is qualified to do so (considering the prior experience of the Affiliate or the individuals employed by the Affiliate). (b) To establish, maintain, deposit into, and sign checks and/or otherwise draw upon, accounts on behalf of the Trust with appropriate banking and savings institutions; (c) To deposit, withdraw, pay, retain and distribute each Fund’s the Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the Registration Statement Prospectus and supplements and amendments thereto; (e) To adopt, implement make or amend, from time authorize the making of distributions to time, such disclosure the Shareholders and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities lawsexpenses of the Trust out of the Trust Estate; (f) To make any necessary determination or decision in connection with cause the preparation Trust to appoint an agent to act on behalf of the Trust’s financial statements and amendments thereto, and the ProspectusShareholders pursuant to Section 7.5; (g) To prepare, file or cause to be prepared, and distributefile, if applicableor cause to be filed, an application to register any periodic reports Shares under the Securities Act and/or the Exchange Act and to take any other action and execute and deliver any certificates or updates documents that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereundernecessary to effectuate such registration; (h) To pay prepare, or authorize cause to be prepared, and file, or cause to be filed, an application to enable the payment of distributions Shares to the Shareholders be listed, quoted or traded on any listing exchange and expenses of each Fundto take any other action and execute and deliver any certificates or documents that may be necessary to effectuate such listing, quotation or trading; (i) To make appoint one or more custodians or other vendors, including itself or an Affiliate, to provide for custodian security services, or to determine not to appoint any elections on behalf of custodian or other vendors, and to otherwise take any action with respect to the custodians or other vendors to safeguard the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Trust or the applicable Fund; andEstate; (j) In the sole discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors; (k) To delegate those of its duties hereunder as it shall determine from time to time to one or more distributors, and add any additional service providers, if needed and as applicable; (l) To perform such other services as the Sponsor believes that the Trust may from time to time require; (m) To determine, in good faith, which peer-to-peer network, among a group of incompatible forks of the Bitcoin Network, is generally accepted as Bitcoin and should therefore be considered “Bitcoin” for the Trust’s purposes, which the Sponsor will determine in the manner set forth in the Prospectus ; (n) In the sole discretion of the Sponsor, to determine what action to take in connection with the Trust’s entitlement to or ownership of Incidental Rights or any IR Virtual Currency, unless such action would adversely affect the status of the Trust as a grantor trust for U.S. federal income tax purposes or otherwise be prohibited by this Trust Agreement, and (o) In general, to do everything necessary, suitable or proper for the accomplishment of any purpose or the furtherance of any power herein set forth, either alone or in association with others, and to do every other act or thing incidental or appurtenant to, or growing out of or connected with, the aforesaid purposes or powers.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement (see, e.g., Sections 1.02 and 1.04) or the Delaware Trust StatuteAct, the Sponsor shall have and may exercise on behalf of the Trust, all powers and rights the Sponsor, in its sole discretion, deems necessary, proper, convenient or advisable to effectuate and carry out the purposes, business activities and objectives of the Trust, which shall include, without limitation, the following: (a) To to enter into, execute, accept, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements (including, but not limited to, insurance agreements) and any or all other documents and instruments, and to do and perform all such things acts as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activitiesactivities and administration, and the activities and administration of the Trust, including, but not limited to contracts with third parties for services, it being understood that any document or instrument executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; provided, however, that such services may be performed by an Affiliate or Affiliates of the Sponsor so long as the Sponsor has made a good faith determination that (A) the Affiliate that it proposes to engage to perform such services is qualified to do so (considering the prior experience of the Affiliate or the individuals employed by the Affiliate); and (B) the terms and conditions of the agreement pursuant to which such Affiliate is to perform services for the Trust are no less favorable to the Trust than could be obtained from equally-qualified unaffiliated third parties; (b) To to establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate custodial, banking and savings or other institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust Trust, as applicable, by the Sponsor; (c) To to deposit, withdraw, pay, retain and distribute each Fund’s bitcoin and Trust Estate Property, or any portion thereof thereof, in any manner consistent with the provisions of this Trust Agreement; (d) To to place bitcoin orders for the Trust with bitcoin exchanges and/or OTC market participants directly or through any electronic or other trading system; (e) to supervise the preparation and filing of the Registration Statement and supplements the Trust’s prospectus (the “Prospectus”) and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities lawsexecute the Registration Statement on behalf of the Trust; (f) To make any necessary determination to pay or decision in connection with authorize the preparation payment of distributions to the Registered Owners and pay or authorize the payment of the expenses of the Trust’s financial statements and amendments thereto, and the Prospectus; (g) To to hold or dispose of Trust Property and to subscribe for, purchase or otherwise acquire, own, hold, pledge, sell, assign, transfer, exchange, distribute, or otherwise deal in Trust Property, in each case subject to the limitations imposed by Article 1, and to do any and all acts and things for the maintenance, preservation, and protection of Trust Property; provided, however, that the Sponsor may withdraw bitcoin from the Trust to pay the Sponsor Fee or extraordinary expenses, costs, and liabilities of the Trust not assumed by the Sponsor pursuant to this Agreement; solely if withdrawal of bitcoin for such purpose is impracticable or unavailable, the Sponsor may sell bitcoin to pay the Sponsor Fee or extraordinary expenses; if the Sponsor sells bitcoin, which may be facilitated by the Bitcoin Custodian, in accordance with the foregoing, the Sponsor shall endeavor to sell bitcoin at such times and in the smallest amounts required to permit payment of expenses as they come due, it being the intention to avoid or minimize the Trust’s holdings of assets other than bitcoin. Neither the Trustee nor the Sponsor shall be liable or responsible in any way for loss or depreciation resulting or incurred by reason of any sale made pursuant to this Section 4.02; (h) to exercise powers and right of subscription or otherwise with respect to the ownership of Trust Property; (i) (A) prepare, or cause to be prepared, and file, or cause to be filed, an application to register any Shares under the Securities Act and/or the Exchange Act and to take any other action and execute and deliver any certificates or documents that may be necessary to effectuate such registration and take such action as is necessary from time to time to qualify the Shares for offering and sale under the federal securities laws, including the preparation and filing of amendments and supplements to the registration statement, (B) promptly notify the Trustee of any amendment or supplement to the registration statement or prospectus, of any order preventing or suspending the use of the prospectus, or of any request for amending or supplementing the registration statement or prospectus, (C) provide the Trustee from time to time with copies, including copies in electronic form, of the prospectus, as amended and supplemented if such be the case, in such quantities as the Trustee may reasonably request and (D) prepare and file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (hj) To pay from time to time adopt, implement or authorize amend such disclosure controls and procedures as are necessary or desirable, in the payment of distributions Sponsor’s reasonable judgment, to ensure compliance with the Shareholders disclosure and expenses of each Fund; (i) To make ongoing reporting obligations under any elections on behalf of applicable securities laws, and seek from the Trust and any Fund under the Coderelevant securities or other regulatory authorities such relief, clarification or any other applicable U.S. federal or state tax law action as the Sponsor shall determine deem necessary or desirable regarding the disclosure or financial reporting obligations of the Trust; (k) to prepare and file an application to enable the Shares to be traded on the Exchange and to take any other action and execute and deliver any documents that may be necessary to effectuate such trading; (l) to litigate, compromise, arbitrate, settle or otherwise adjust claims in favor of or against the best interests of the Trust Trust, or the applicable Fundany matter in controversy, including but not limited to claims for taxes; and (jm) In to contract with any Person(s) appointing, suspending, terminating, removing, or replacing such Person(s), including any Affiliate, to provide services to the sole discretion Trust, including without limitation, accountants, administrators, auditors, bitcoin exchanges and over-the-counter (“OTC”) market participants, index providers, transfer agents, shareholder servicing agents, marketing agents or other agents for the Trust. The agreement pursuant to which an Affiliate is to perform services for the Trust shall be terminable by the Trust without penalty upon discovery of acts of fraud or willful malfeasance of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsorsin performing its duties thereunder.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Trust, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares Units and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the any Registration Statement and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the any Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders Unitholders and expenses of each Fund; (i) To Subject to section 2.5(a), to make any elections on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law law, as the Sponsor shall determine to be in the best interests of the Trust or the applicable FundTrust; and (j) In the sole discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors.

Authority of Sponsor. In addition to to, and not in limitation of of, any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have have, and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives purposes of the Trust, which powers and rights shall include, without limitation, the following: (a) To enter into, execute, accept, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement instruments incidental to the Trust’s business and in furtherance of its purposes, including, but not limited to, contracts with third parties to provide various services, it being understood that any such document or instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; provided, however, that such services may be performed by an Affiliate or Affiliates of the Sponsor so long as the Sponsor has made a good faith determination that: (A) the Affiliate that it proposes to engage to perform such services is qualified to do so (considering the prior experience of the Affiliate or the individuals employed by the Affiliate); (B) the terms and conditions of the agreement pursuant to which such Affiliate is to perform services for the Trust are no less favorable to the Trust than could be obtained from equally-qualified unaffiliated third parties; and (C) the maximum period covered by the agreement pursuant to which such Affiliate is to perform services for the Trust shall not exceed one year, and such agreement shall be terminable without penalty upon one hundred twenty (120) days’ prior written notice by the Trust; (b) To cause legal title to any Trust property to be held by or in the name of the Sponsor, or to have any contract entered into in the name of the Sponsor, on such terms as the Sponsor may determine, with the same effect as if such property were held in the name of the Trust or such contract were entered into in the name of the Trust. (c) To establish, maintain, deposit into, and sign checks and/or otherwise draw upon, accounts on behalf of the Trust with appropriate banking and savings institutions; (d) To deposit, withdraw, pay, retain and distribute each Fund’s the Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (de) To supervise the preparation of any offering materials for the Trust (including but not limited to offering memoranda and filing of the Registration Statement prospectuses) and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders and expenses of each Fundthe Trust; (g) To prepare, or cause to be prepared, and file, or cause to be filed, an application to enable the Shares to be traded on any listing exchange or over-the-counter quotation or listing platform as determined by the Sponsor in its sole discretion and to take any other action and execute and deliver any certificates or documents that may be necessary to effectuate such listing; (h) To appoint one or more custodians or other security vendors as the Sponsor deems necessary in its sole discretion, including itself or any Affiliate, to provide for custodian, security services or to determine not to appoint any custodian or other security vendors, and to otherwise take any action with respect to the Bitcoin Custodian or any custodians or other security vendors to safeguard the Trust Estate; (i) To make any elections on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Trust or the applicable Fund; and (j) In the sole and absolute discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors; (j) Delegate those of its duties hereunder as it shall determine from time to time to one or more service providers, and add any additional service providers, including but not limited to any sub-adviser, administrator, transfer agent, custodian(s), index provider, Authorized Participants, marketing agent(s), insurer(s) and any other service provider(s) and cause the Trust to enter into contracts with such service provider(s) if needed and as applicable; (k) Perform such other services as the Sponsor believes that the Trust may from time to time require; (l) The Sponsor has the right, in its sole discretion, to determine what action to take in connection with the Trust’s entitlement to or ownership of Incidental Rights or any IR Virtual Currency, and Trust may take any lawful action necessary or desirable in connection with the Trust’s ownership of Incidental Rights, including the acquisition of IR Virtual Currency, as determined by the Sponsor in the Sponsor’s sole discretion, un-less such action would adversely affect the status of the Trust as a grantor trust for U.S. federal income tax purposes or otherwise be prohibited by this Trust Agreement, it being understood that the actions which the Sponsor may, in its sole discretion, determine the Trust shall take include: (i) arranging for the sale of Incidental Rights and/or IR Virtual Currency and distributing the cash proceeds (net of expenses and any applicable withholding taxes) to the Depository Trust Company (“DTC”) to be distributed to Shareholders, (ii) distributing Incidental Rights and/or IR Virtual Currency in-kind to DTC, (iii) using Incidental Rights and/or IR Virtual Currency to pay the Sponsor Fee and/or additional Trust expenses not assumed by the Sponsor, or (iv) electing not to acquire, claim, or obtain, and permanently and irrevocably abandoning, Incidental Rights or IR Virtual Currency for no consideration. (v) Without limiting the generality of the foregoing, in the event of a hard fork of the Bitcoin Network, the Sponsor may, in reasonable good faith, determine which peer-to-peer network, among a group of incompatible forks of the Bitcoin Network, is generally accepted as the Bitcoin Network and should therefore be considered the appropriate network for the Trust’s purposes; (m) In general, to do everything necessary, suitable or proper for the accomplishment of any purpose or the attainment of any objective or the furtherance of any power herein set forth, either alone or in association with others, and to do every other act or thing incidental or appurtenant to, or growing out of or connected with, the aforesaid purposes, objects or powers. In addition, and without limiting the foregoing, the Sponsor will have full power and authority, in its sole discretion, without seeking the approval of the Trustee or the Shareholders (a) to establish and designate and to change in any manner and to fix such preferences, voting powers, rights, duties and privileges of the Trust as the Sponsor may from time to time determine, (b) to divide the beneficial interest in the Trust into an unlimited amount of shares, with or without par value, as the Sponsor will determine, (c) to issue shares without limitation as to number (including fractional shares), to such persons and for such amount of consideration, subject to any restriction set forth in the Trust Agreement, if any, at such time or times and on such terms as the Sponsor may deem appropriate, (d) to divide or combine the shares into a greater or lesser number without thereby materially changing the proportionate beneficial interest of the shares in the assets held, and (e) to take such other action with respect to the shares as the Sponsor may deem desirable. The Sponsor may make such rules as it considers appropriate for the issuance of share certificates, transfer of Shares and similar matters.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Trust, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the Registration Statement and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders and expenses of each Fund; (i) To make any elections on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Trust or the applicable FundTrust; and (j) In the sole discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors.

Authority of Sponsor. In addition to to, and not in limitation of of, any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have have, and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives purposes of the Trust, which powers and rights shall include, without limitation, the following: (a) To direct the Trustee pursuant to this Agreement and to enter into, execute, accept, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instrumentsinstruments incidental to the Trust’s purposes, and to do and perform all such things acts as may be in furtherance of Trust purposes the Trust’s purposes, or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activities; (b) To establishShares, maintainincluding, deposit intobut not limited to, sign checks and/or otherwise draw upon accounts on behalf of causing the Trust to enter into (i) contracts or agreements with appropriate banking and savings institutionsthe Sponsor or an Affiliate, and execute and/or accept provided that any instrument such contract or agreement incidental to does not conflict with the Trust’s business provisions of Section 1.5(b) of this Trust Agreement, Section 6.4 of this Trust Agreement or clause (ii) of this Section 6.2(a) and in furtherance of its purposes(ii) contracts with third parties for various services, it being understood that any such document or instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor (b) To establish, maintain, deposit into, and sign checks and/or otherwise draw upon, accounts on behalf of the Trust with appropriate banking and savings institutions; (c) To deposit, withdraw, pay, retain and distribute each Fund’s the Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the Registration Statement Prospectus and supplements and amendments thereto; (e) To adopt, implement make or amend, from time authorize the making of distributions to time, such disclosure the Shareholders and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities lawsexpenses of the Trust out of the Trust Estate; (f) To make any necessary determination or decision in connection with cause the preparation Trust to appoint an agent to act on behalf of the Trust’s financial statements and amendments thereto, and the ProspectusShareholders pursuant to Section 7.5; (g) To prepare, file or cause to be prepared, and distributefile, if applicableor cause to be filed, an application to register any periodic reports Shares under the Securities Act and/or the Exchange Act and to take any other action and execute and deliver any certificates or updates documents that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereundernecessary to effectuate such registration; (h) To pay prepare, or authorize cause to be prepared, and file, or cause to be filed, an application to enable the payment of distributions Shares to the Shareholders be listed, quoted or traded on any Secondary Market and expenses of each Fundto take any other action and execute and deliver any certificates or documents that may be necessary to effectuate such listing, quotation or trading; (i) To make appoint one or more Prime Brokers, Cash Custodians, Custodians or other security vendors, including itself or an Affiliate, to provide for custodian security services, or to determine not to appoint any elections on behalf of Prime Broker, Cash Custodian, Custodian or other security vendors, and to otherwise take any action with respect to the Prime Brokers, Cash Custodians, Custodians or other security vendors to safeguard the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Trust or the applicable Fund; andEstate; (j) In the sole and absolute discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors; (k) To delegate those of its duties hereunder as it shall determine from time to time to one or more Distributors, and add any additional service providers, if needed and as applicable; (l) To perform such other services as the Sponsor believes that the Trust may from time to time require; (m) Interact with the Depository as required; and (n) In general, but subject to Section 1.5 and Section 6.4 of this Trust Agreement, to do everything necessary, suitable or proper for the accomplishment of any purpose or the furtherance of any power herein set forth, either alone or in association with others, and to do every other act or thing incidental or appurtenant to, or growing out of or connected with, the aforesaid purposes or powers.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business purposes and objectives of the Trust, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements (including but not limited to Subscription Agreements substantially in the form of Exhibit B hereto) and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares Units, including, but not limited to, contracts with third parties various services, provided, however, that such services may be performed by an Affiliate or Affiliates of the Sponsor so long as the Sponsor has made a good faith determination that: (A) the Affiliate which it proposes to engage to perform such services is qualified to do so (considering the prior experience of the Affiliate or the individuals employed thereby); (B) the terms and conditions of the conduct of agreement pursuant to which such Affiliate is to perform services for the Trust activitiesare no less favorable to the Trust than could be obtained from equally-qualified unaffiliated third parties; and (C) the maximum period covered by the agreement pursuant to which such Affiliate is to perform services for the Trust shall not exceed one year, and such agreement shall be terminable without penalty upon one hundred twenty (120) days’ prior written notice by the Trust; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s the Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the Registration Statement Memorandum and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders Unitholders and expenses of each Fundthe Trust; (if) To make any elections act as Transfer Agent and perform functions customarily preferred by a transfer agent; (g) To prepare, or cause to be prepared, and file, or cause to be filed, an application to enable the Units to be traded on behalf of the Trust and any Fund under the Code, OTCQX or any other applicable U.S. federal or state tax law as financial market deemed by the Sponsor shall determine to be in the best interests interest of the Trust Unitholders and to take any other action and execute and deliver any certificate or the applicable Funddocuments that may be necessary to effectuate such trading; and (jh) In the sole and absolute discretion of the Sponsor, to admit an Affiliate or Affiliates additional Sponsor. Notwithstanding the foregoing, the Sponsor may not admit Affiliate(s) of the Sponsor as an additional SponsorsSponsor if it has received notice of its removal as a Sponsor, pursuant to Section 7.2(d).

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Trust, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares Units and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the any Registration Statement and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the any Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders and expenses of each Fund; (i) To make any elections on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Trust or the applicable Fund; and (j) In the sole discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the TrustTrust and of the Funds, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust and each Fund to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust and Fund purposes or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust and Fund activities;, including, but not limited to, contracts with third parties for commodity brokerage services and/or administrative services, provided, however, that such services may be performed by an Affiliate or Affiliates of the Sponsor so long as the Sponsor has made a good faith determination that: (i) the Affiliate which it proposes to engage to perform such services is qualified to do so (considering the prior experience of the Affiliate or the individuals employed thereby); (ii) the terms and conditions of the agreement pursuant to which such Affiliate is to perform services for the Trust are no less favorable to the Trust than could be obtained from equally-qualified unaffiliated third parties; and (iii) such agreement shall be terminable without penalty upon sixty (60) days’ prior written notice by the Trust. (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust and each Fund, as applicable, with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor;. (c) To deposit, withdraw, pay, retain and distribute each Fund’s Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement;. (d) To supervise the preparation and filing of the Registration Statement Statement, the Prospectus and any supplements and amendments thereto;. (e) To adoptpay or authorize the payment of distributions to the Shareholders and expenses of each Fund. (f) To make any elections on behalf of a Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Fund. (g) In the sole discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors. (h) To adopt disclosure and financial reporting information gathering and control policies and procedures. (i) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the Prospectus. (j) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CEA, or the rules and regulations thereunder. (k) Execute, file, record and/or publish all certificates, statements and other documents and do any and all other things as may be appropriate for the formation, qualification and operation of the Trust and for the conduct of its business in all appropriate jurisdictions. (l) Appoint and remove independent public accountants to audit the accounts of the Trust. (m) Employ attorneys to represent the Trust. (n) Adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws;. (fo) To make Enter into a Distribution Agreement with the Distributor and discharge the duties and responsibilities of the Trust and the Sponsor thereunder. (p) For each Fund, enter into an Authorized Participant Agreement with each Authorized Participant and discharge the duties and responsibilities of the Fund and the Sponsor thereunder. (q) For each Fund, in connection with purchase of a Creation Unit, receive Creation Unit Capital Contributions from Authorized Participants. (r) For each Fund, receive from Authorized Participants and process or cause the Distributor or Administrator, as applicable, to process properly submitted Redemption Orders. (s) Cause the Trust to enter into one or more custodian agreements, including with the Sponsor, on terms and conditions acceptable to the Sponsor. (t) Authorize the Trust, for the Trust or any Fund or Class, to enter into one or more administration, transfer agency and accounting agreements and agreements for such other services necessary determination or decision appropriate to carry out the business and affairs of the Trust with any party or parties on terms and conditions acceptable to the Sponsor, including but not limited to agreements with legal counsel and an independent registered public accounting firm. (u) For each Fund, receive a Redemption Order from a redeeming Authorized Participant through the Depository, and thereupon cancel or cause to be cancelled, the Shares to be redeemed in connection with the preparation Redemption Order. (v) Interact with the Depository as required. (w) Enter into the Sponsor Agreement on terms and conditions acceptable to the Sponsor. (x) Prosecute, defend, settle or compromise actions or claims at law or in equity as may be necessary or proper to enforce or protect the Trust’s interests. The Sponsor shall satisfy any judgment, decree or decision of any court, board or authority having jurisdiction or any settlement of any suit or claim prior to judgment or final decision thereon, first, out of any insurance proceeds available therefor, next, out of the Funds’ assets on a pro rata basis. (y) Delegate those of its duties hereunder as it shall determine from time to time to one or more officers of the Trust’s financial statements , the Administrator, Distributor, Commodity Trading Advisors, Commodity Pool Operators or other Persons. (z) In general, to carry on any other business in connection with or incidental to any of the foregoing powers, to do everything necessary, suitable or proper for the accomplishment of any purpose or the attainment of any object or the furtherance of any power herein set forth, either alone or in association with others, and amendments theretoto do every other act or thing incidental or appurtenant to or growing out of or connected with the aforesaid business or purposes, objects or powers. The foregoing clauses shall be construed both as objects and powers, and the Prospectus; (g) To prepare, file and distribute, if applicable, foregoing enumeration of specific powers shall not be held to limit or restrict in any periodic reports manner the general powers of the Sponsor. Any action by one or updates that may more of the Sponsors hereunder shall be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders and expenses of each Fund; (i) To make any elections deemed an action on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Trust or the applicable Fund; and (j) In the sole discretion of the SponsorSeries or Class, to admit and not an Affiliate or Affiliates of the Sponsor as additional Sponsorsaction in an individual capacity.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the Trust, Trust all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Trust, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s 's business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s 's name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s the Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the Registration Statement and supplements and amendments theretoStatement; (e) To adopt, implement or amend, from time to time, such adopt disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities lawsprocedures; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s 's financial statements and amendments thereto, and the Prospectus; (g) To prepare, file and distribute, if applicable, distribute any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders and expenses of each Fundthe Trust; (i) To make any elections on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Trust Trust; (j) To prepare or the applicable Fundcause to be prepared and filed, all necessary Tax Returns; and (jk) In the sole discretion of the Sponsor, to admit to the Trust an Affiliate or Affiliates of the Sponsor as additional Sponsors.

Authority of Sponsor. In addition to and not in limitation of any rights and powers conferred by law or other provisions of this Trust AgreementDeclaration of Trust, and except as limited, restricted or prohibited by the express provisions of this Declaration of Trust Agreement or the Delaware Trust Statute, the Sponsor shall have and may exercise on behalf of the TrustTrust and each Fund, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the TrustTrust and each Fund, which shall include, without limitation, the following: (a) To enter into, execute, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activities, including, but not limited to contracts with third parties for commodity brokerage services and/or administrative services, provided, however, that such services may be performed by an Affiliate or Affiliates of the Sponsor so long as the Sponsor has made a good faith determination that: (i) the Affiliate which it proposes to engage to perform such services is qualified to do so (considering the prior experience of the Affiliate or the individuals employed thereby); (ii) the terms and conditions of the agreement pursuant to which such Affiliate is to perform services for the Trust are no less favorable to the Trust than could be obtained from equally-qualified unaffiliated third parties; and (iii) the maximum period covered by the agreement pursuant to which such Affiliate is to perform services for the Trust shall not exceed one year, and such agreement shall be terminable without penalty upon sixty (60) days’ prior written notice by the Trust; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement incidental to the Trust’s business and in furtherance of its purposes, any such instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s Sponsor ‘s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; (c) To deposit, withdraw, pay, retain and distribute each Fund’s Trust Estate Property or any portion thereof in any manner consistent with the provisions of this Trust AgreementDeclaration of Trust; (d) To supervise the preparation and filing of the Registration Statement and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (he) To pay or authorize the payment of distributions to the Shareholders Unitholders and expenses of each Fund; (f) To invest and reinvest cash, to hold cash uninvested, and to subscribe for, invest in, reinvest in, purchase or otherwise acquire, own, hold, pledge, sell, assign, transfer, exchange, distribute, write options on, lend or otherwise deal in or dispose of contracts for the future acquisition or delivery of fixed income or other securities, and securities of every nature and kind, including, without limitation, all types of bonds, debentures, stocks, preferred stocks, negotiable or non-negotiable instruments, obligations, evidences of indebtedness, certificates of deposit or indebtedness, commercial paper, repurchase agreements, bankers acceptances, and other securities of any kind, issued, created guaranteed, or sponsored by any and all Persons, including, without limitation, states, territories, and possessions of the United States and the District of Columbia and any political subdivision, agency, or instrumentality thereof, any foreign government or any political subdivision of the U.S. Government or any foreign government, or any international instrumentality, or by any bank or savings institution, or by any corporation or organization organized under the laws of the United States or of any state, territory, or possession thereof, or by any corporation or organization organized under any foreign law, in “when issued” contracts for any such securities, or such other instruments or interests as the Sponsor deems appropriate which are referred to as securities or commodity interests under the federal securities and commodity laws, or otherwise; to change the investments of the assets of the Trust; and to exercise any and all rights, powers, and privileges of ownership or interest in respect of any and all such investments of every kind and description, including, without limitation, the right to consent and otherwise act with respect thereto, with power to designate one or more Persons, to exercise any of said rights, powers and privileges in respect of any of said instruments, and to do any and all acts and things for the preservation, protection, improvement and enhancement in value of any of such securities and other instruments or property; (g) To exercise powers and right of subscription or otherwise which in any manner arise out of ownership of securities; (h) To hold any security or property in a form not indicating that it is Trust Property, whether in bearer, unregistered or other negotiable form, or in its own name or in the name of a custodian or subcustodian or a nominee or nominees or otherwise or to authorize the custodian or a subcustodian or a nominee or nominees to deposit the same in a securities depository; (i) To make join with other security holders in acting through a committee, depositary, voting trust or otherwise, and in that connection to deposit any elections on behalf of the Trust and any Fund under the Codesecurity with, or transfer any other applicable U.S. federal security to, any such committee, depositary or state tax law voting trust, and to delegate to them such power and authority with relation to any security (whether or not so deposited or transferred) as the Sponsor shall determine deem proper, and to be agree to pay, and to pay, such portion of the expenses and compensation of such committee, depositary or voting trust as the Sponsor shall deem proper; (j) To litigate, compromise, arbitrate, settle or otherwise adjust claims in favor of or against the Trust or a Series, or any matter in controversy, including but not limited to claims for taxes; (k) To enter into joint ventures, general or limited partnerships and any other combinations or associations; (l) To borrow funds or other property in the best interests name of the Trust or the applicable Fund; andSeries exclusively for Trust purposes; (jm) In To endorse or guarantee the sole discretion payment of the Sponsorany notes or other obligations of any Person; to make contracts of guaranty or suretyship, or otherwise assume liability for payment thereof; (n) To contract with any Persons appointing such Person(s), including any affiliate, to admit an Affiliate serve as custodians, transfer agents and/or shareholder servicing agents or Affiliates other agents for the Trust or one or more of its Series or Classes. Every such contract shall comply with such requirements and restrictions as may be set forth in the By-Laws. (o) To direct the Trustee to declare a split or reverse split in the number of Shares outstanding and a corresponding change in the number of Shares constituting a Creation Basket whenever the Sponsor as additional Sponsorsbelieves that the per Share price in the secondary market falls outside a desirable trading price.

Authority of Sponsor. In addition to to, and not in limitation of of, any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have have, and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives purposes of the Trust, which powers and rights shall include, without limitation, the following: (a) To enter into, execute, accept, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement instruments incidental to the Trust’s business and in furtherance of its purposes, including, but not limited to, contracts with third parties to provide various services, it being understood that any such document or instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; provided, however, that such services may be performed by an Affiliate or Affiliates of the Sponsor so long as the Sponsor has made a good faith determination that: (A) the Affiliate that it proposes to engage to perform such services is qualified to do so (considering the prior experience of the Affiliate or the individuals employed by the Affiliate); (B) the terms and conditions of the agreement pursuant to which such Affiliate is to perform services for the Trust are no less favorable to the Trust than could be obtained from equally-qualified unaffiliated third parties; and (C) the maximum period covered by the agreement pursuant to which such Affiliate is to perform services for the Trust shall not exceed one year, and such agreement shall be terminable without penalty upon one hundred twenty (120) days’ prior written notice by the Trust; (b) To establish, maintain, deposit into, and sign checks and/or otherwise draw upon, accounts on behalf of the Trust with appropriate banking and savings institutions; (c) To deposit, withdraw, pay, retain and distribute each Fund’s the Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (d) To supervise the preparation and filing of the Registration Statement Prospectus and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders and expenses of each Fundthe Trust; (if) To make any elections on behalf of the Trust and any Fund under the Codeprepare, or cause to be prepared, and file, or cause to be filed, an application to enable the Shares to be traded on NYSE Arca and to take any other applicable U.S. federal action and execute and deliver any certificates or state tax law as the Sponsor shall determine documents that may be necessary to be in the best interests of the Trust or the applicable Fund; andeffectuate such trading; (jg) In the sole and absolute discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors; (h) Delegate those of its duties hereunder as it shall determine from time to time to one or more Distributors, and add any additional service providers, if needed and as applicable; (i) Perform such other services as the Sponsor believes that the Trust may from time to time require; and (j) In general, to do everything necessary, suitable or proper for the accomplishment of any purpose or the attainment of any objective or the furtherance of any power herein set forth, either alone or in association with others, and to do every other act or thing incidental or appurtenant to, or growing out of or connected with, the aforesaid purposes, objects or powers.

Authority of Sponsor. In addition to to, and not in limitation of of, any rights and powers conferred by law or other provisions of this Trust Agreement, and except as limited, restricted or prohibited by the express provisions of this Trust Agreement or the Delaware Trust Statute, the Sponsor shall have have, and may exercise on behalf of the Trust, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives purposes of the Trust, which powers and rights shall include, without limitation, the following: (a) To enter into, execute, accept, deliver and maintain, and to cause the Trust to perform its obligations under, contracts, agreements and any or all other documents and instruments, and to do and perform all such things as may be in furtherance of Trust purposes or necessary or appropriate for the offer and sale of the Shares and the conduct of Trust activities; (b) To establish, maintain, deposit into, sign checks and/or otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and/or accept any instrument or agreement instruments incidental to the Trust’s business and in furtherance of its purposes, including, but not limited to, contracts with third parties to provide various services, it being understood that any such document or instrument or agreement so executed or accepted by the Sponsor in the Sponsor’s name shall be deemed executed and accepted on behalf of the Trust by the Sponsor; provided, however, that such services may be performed by an Affiliate or Affiliates of the Sponsor so long as the Sponsor has made a good faith determination that: (A) the Affiliate that it proposes to engage to perform such services is qualified to do so (considering the prior experience of the Affiliate or the individuals employed by the Affiliate); (B) the terms and conditions of the agreement pursuant to which such Affiliate is to perform services for the Trust are no less favorable to the Trust than could be obtained from equally-qualified unaffiliated third parties; and (C) the maximum period covered by the agreement pursuant to which such Affiliate is to perform services for the Trust shall not exceed one year, and such agreement shall be terminable without penalty upon one hundred twenty (120) days’ prior written notice by the Trust; (b) To cause legal title to any Trust property to be held by or in the name of the Sponsor, or to have any contract entered into in the name of the Sponsor, on such terms as the Sponsor may determine, with the same effect as if such property were held in the name of the Trust or such contract were entered into in the name of the Trust. (c) To establish, maintain, deposit into, and sign checks and/or otherwise draw upon, accounts on behalf of the Trust with appropriate banking and savings institutions; (d) To deposit, withdraw, pay, retain and distribute each Fund’s the Trust Estate or any portion thereof in any manner consistent with the provisions of this Trust Agreement; (de) To supervise the preparation of any offering materials for the Trust (including but not limited to offering memoranda and filing of the Registration Statement prospectuses) and supplements and amendments thereto; (e) To adopt, implement or amend, from time to time, such disclosure and financial reporting information gathering and control policies and procedures as are necessary or desirable to ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws; (f) To make any necessary determination or decision in connection with the preparation of the Trust’s financial statements and amendments thereto, and the Prospectus; (g) To prepare, file and distribute, if applicable, any periodic reports or updates that may be required under the Securities Exchange Act of 1934, the CE Act, or the rules and regulations thereunder; (h) To pay or authorize the payment of distributions to the Shareholders and expenses of each Fundthe Trust; (g) To prepare, or cause to be prepared, and file, or cause to be filed, an application to enable the Shares to be traded on any listing exchange or over-the-counter quotation or listing platform as determined by the Sponsor in its sole discretion and to take any other action and execute and deliver any certificates or documents that may be necessary to effectuate such listing; (h) To appoint one or more custodians or other security vendors as the Sponsor deems necessary in its sole discretion, including itself or any Affiliate, to provide for custodian, security services or to determine not to appoint any custodian or other security vendors, and to otherwise take any action with respect to the Ether Custodian or any custodians or other security vendors to safeguard the Trust Estate; (i) To make any elections on behalf of the Trust and any Fund under the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of the Trust or the applicable Fund; and (j) In the sole and absolute discretion of the Sponsor, to admit an Affiliate or Affiliates of the Sponsor as additional Sponsors; (j) Delegate those of its duties hereunder as it shall determine from time to time to one or more service providers, and add any additional service providers, including but not limited to any sub-adviser, administrator, transfer agent, custodian(s), index provider, Authorized Participants, marketing agent(s), insurer(s) and any other service provider(s) and cause the Trust to enter into contracts with such service provider(s) if needed and as applicable; (k) Perform such other services as the Sponsor believes that the Trust may from time to time require; (l) The Sponsor has the right, in its sole discretion, to determine what action to take in connection with the Trust’s entitlement to or ownership of Incidental Rights or any IR Virtual Currency, and Trust may take any lawful action necessary or desirable in connection with the Trust’s ownership of Incidental Rights, including the acquisition of IR Virtual Currency, as determined by the Sponsor in the Sponsor’s sole discretion, un-less such action would adversely affect the status of the Trust as a grantor trust for U.S. federal income tax purposes or otherwise be prohibited by this Trust Agreement, it being understood that the actions which the Sponsor may, in its sole discretion, determine the Trust shall take include: (i) arranging for the sale of Incidental Rights and/or IR Virtual Currency and distributing the cash proceeds (net of expenses and any applicable withholding taxes) to the Depository Trust Company (“DTC”) to be distributed to Shareholders, (ii) distributing Incidental Rights and/or IR Virtual Currency in-kind to DTC, (iii) using Incidental Rights and/or IR Virtual Currency to pay the Sponsor Fee and/or additional Trust expenses not assumed by the Sponsor, or (iv) electing not to acquire, claim, or obtain, and permanently and irrevocably abandoning, Incidental Rights or IR Virtual Currency for no consideration. (v) Without limiting the generality of the foregoing, in the event of a hard fork of the Ethereum network, the Sponsor may, in reasonable good faith, determine which peer-to-peer network, among a group of incompatible forks of the Ethereum network, is generally accepted as the Ethereum network and should therefore be considered the appropriate network for the Trust’s purposes; (m) In general, to do everything necessary, suitable or proper for the accomplishment of any purpose or the attainment of any objective or the furtherance of any power herein set forth, either alone or in association with others, and to do every other act or thing incidental or appurtenant to, or growing out of or connected with, the aforesaid purposes, objects or powers. In addition, and without limiting the foregoing, the Sponsor will have full power and authority, in its sole discretion, without seeking the approval of the Trustee or the Shareholders (a) to establish and designate and to change in any manner and to fix such preferences, voting powers, rights, duties and privileges of the Trust as the Sponsor may from time to time determine, (b) to divide the beneficial interest in the Trust into an unlimited amount of shares, with or without par value, as the Sponsor will determine, (c) to issue shares without limitation as to number (including fractional shares), to such persons and for such amount of consideration, subject to any restriction set forth in the Trust Agreement, if any, at such time or times and on such terms as the Sponsor may deem appropriate, (d) to divide or combine the shares into a greater or lesser number without thereby materially changing the proportionate beneficial interest of the shares in the assets held, and (e) to take such other action with respect to the shares as the Sponsor may deem desirable. The Sponsor may make such rules as it considers appropriate for the issuance of share certificates, transfer of Shares and similar matters.