Common use of General Prohibitions Clause in Contracts

General Prohibitions. The Trust shall not, and the Sponsor shall not have the power to cause the Trust to: (a) Receive any property other than Bitcoin upon the issuance of Shares; (b) Hold any property other than (i) Bitcoin, Incidental Rights and IR Virtual Currency, (ii) cash from the sale of Bitcoin, Incidental Rights or IR Virtual Currency and (iii) interests in any liquidating trust or other vehicle formed to hold Incidental Rights or IR Virtual Currency pending distribution of such interests to the Shareholders; (c) Hold any cash from the sale of Bitcoins, Incidental Rights or IR Virtual Currency for more than thirty (30) Business Days prior to using such cash to pay Additional Trust Expenses and distributing any remaining cash to the Shareholders; (d) If the redemption of Shares is not authorized pursuant to Section 5.1, redeem any Shares other than upon the dissolution of the Trust; (e) If the redemption of Shares is authorized pursuant to Section 5.1, redeem the Shares other than (i) to satisfy a Redemption Order from a Participant, (ii) as provided in Section 5.2 or Section 5.3 or (iii) upon the dissolution of the Trust; (f) Borrow money from, or loan money to, any Shareholder, the Sponsor or any other Person; (g) Create, incur, assume or suffer to exist any lien, mortgage, pledge conditional sales or other title retention agreement, charge, security interest or encumbrance on or with respect to the Trust Estate, except for (i) liens for taxes not delinquent or being contested in good faith and by appropriate proceedings and for which appropriate reserves have been established and (ii) liens by the Trustee against the Trust property as security for any amounts owing to the Trustee hereunder; (h) Commingle the Trust Estate with the assets of any other Person; (i) Permit rebates to be received by the Sponsor or any Affiliate of the Sponsor, or permit the Sponsor or any Affiliate of the Sponsor to engage in any reciprocal business arrangements which would circumvent the foregoing prohibition; (j) Enter into any contract with the Sponsor or an Affiliate of the Sponsor (A) that, except for selling agreements for the sale of Shares, has a term of more than one year and that does not provide that it may be canceled by the Trust without penalty on one hundred twenty (120) days prior written notice or (B) for the provision of services, except at rates and terms at least as favorable as those that may be obtained from third parties in arm’s length negotiations; (k) Enter into any exclusive brokerage contract; (l) Elect to be treated as an association taxable as a corporation for U.S. federal income tax purposes; or (m) Notwithstanding any other provision of this Trust Agreement, including Section 6.4(b), take any action that could cause the Trust to be treated other than as a grantor trust for U.S. federal income tax purposes.

General Prohibitions. The Trust shall not, and the Sponsor shall not have the power to cause the Trust to: (a) Receive any property other than Bitcoin Ether upon the issuance of Shares; (b) Hold any property other than (i) BitcoinEther, Incidental Rights and IR Virtual Currency, or (ii) cash from the sale of BitcoinEther, Incidental Rights or IR Virtual Currency and (iii) interests in any liquidating trust or other vehicle formed to hold Ether, Incidental Rights or IR Virtual Currency pending distribution of such interests to the Shareholders; (c) Hold any cash from the sale of BitcoinsEther, Incidental Rights or IR Virtual Currency for more than thirty (30) Business Days prior to using such cash to pay Additional Trust Expenses Expenses, or to fund the redemption of Redemption Baskets, and distributing any remaining cash to the Shareholders; (d) If the redemption of Shares is not authorized pursuant to Section SECTION 5.1, redeem any Shares other than upon the dissolution of the Trust; (e) If the redemption of Shares is authorized pursuant to Section SECTION 5.1, redeem the Shares other than (i) to satisfy a Redemption Order from a an Authorized Participant, (ii) as provided in Section SECTION 5.2 or Section SECTION 5.3 or (iii) upon the dissolution of the Trust;; 3 (f) Borrow money from, or loan money to, any Shareholder, the Sponsor or any other Person; (g) Create, incur, assume or suffer to exist any lien, mortgage, pledge conditional sales or other title retention agreement, charge, security interest or encumbrance on or with respect to the Trust Estate, except for (i) liens for taxes not delinquent or being contested in good faith and by appropriate proceedings and for which appropriate reserves have been established and (ii) liens by the Trustee against the Trust property as security for any amounts owing to the Trustee hereunder; (h) Commingle the Trust Estate with the assets of any other Person; provided that, for the avoidance of doubt, a portion of the Trust Estate may be held in the Settlement Balance from time to time in order to facilitate the creation and redemption of Shares; (i) Permit rebates to be received by the Sponsor or any Affiliate of the Sponsor, or permit the Sponsor or any Affiliate of the Sponsor to engage in any reciprocal business arrangements which would circumvent the foregoing prohibition; (j) Enter into any contract with the Sponsor or an Affiliate of the Sponsor (A) that, except for selling agreements for the sale of Shares, has a term of more than one year and that does not provide that it may be canceled by the Trust without penalty on one hundred twenty (120) days prior written notice or (B) for the provision of services, except at rates and terms at least as favorable as those that may be obtained from third parties in arm’s length negotiations; (k) Enter into any exclusive brokerage contract; (l) Elect to be treated as an association taxable as a corporation for U.S. federal income tax purposes; or (m) Notwithstanding any other provision of this Trust Agreement, including Section SECTION 6.4(b), take any action that could cause the Trust to be treated other than as a grantor trust for U.S. federal income tax purposes. (f) Section 12.2 of the Trust Agreement is amended as follows (with strike through representing deletions and underlining and bold representing additions):

General Prohibitions. The Trust shall not, and the Sponsor shall not have the power to cause the Trust to: (a) Receive any property other than Bitcoin upon the issuance of Shares; (b) Hold any property other than (i) Bitcoin, Incidental Rights and IR Virtual Currency, or (ii) cash from the sale of Bitcoin, Incidental Rights or IR Virtual Currency and (iii) interests in any liquidating trust or other vehicle formed to hold Bitcoin, Incidental Rights or IR Virtual Currency pending distribution of such interests to the Shareholders; (c) Hold any cash from the sale of BitcoinsBitcoin, Incidental Rights or IR Virtual Currency for more than thirty (30) Business Days prior to using such cash to pay Additional Trust Expenses Expenses, or to fund the redemption of Redemption Baskets, and distributing any remaining cash to the Shareholders; (d) If the redemption of Shares is not authorized pursuant to Section SECTION 5.1, redeem any Shares other than upon the dissolution of the Trust; (e) If the redemption of Shares is authorized pursuant to Section SECTION 5.1, redeem the Shares other than (i) to satisfy a Redemption Order from a an Authorized Participant, (ii) as provided in Section SECTION 5.2 or Section SECTION 5.3 or (iii) upon the dissolution of the Trust;; 3 (f) Borrow money from, or loan money to, any Shareholder, the Sponsor or any other Person; (g) Create, incur, assume or suffer to exist any lien, mortgage, pledge conditional sales or other title retention agreement, charge, security interest or encumbrance on or with respect to the Trust Estate, except for (i) liens for taxes not delinquent or being contested in good faith and by appropriate proceedings and for which appropriate reserves have been established and (ii) liens by the Trustee against the Trust property as security for any amounts owing to the Trustee hereunder; (h) Commingle the Trust Estate with the assets of any other Person; provided that, for the avoidance of doubt, a portion of the Trust Estate may be held in the Settlement Balance from time to time in order to facilitate the creation and redemption of Shares; (i) Permit rebates to be received by the Sponsor or any Affiliate of the Sponsor, or permit the Sponsor or any Affiliate of the Sponsor to engage in any reciprocal business arrangements which would circumvent the foregoing prohibition; (j) Enter into any contract with the Sponsor or an Affiliate of the Sponsor (A) that, except for selling agreements for the sale of Shares, has a term of more than one year and that does not provide that it may be canceled by the Trust without penalty on one hundred twenty (120) days prior written notice or (B) for the provision of services, except at rates and terms at least as favorable as those that may be obtained from third parties in arm’s length negotiations; (k) Enter into any exclusive brokerage contract; (l) Elect to be treated as an association taxable as a corporation for U.S. federal income tax purposes; or (m) Notwithstanding any other provision of this Trust Agreement, including Section SECTION 6.4(b), take any action that could cause the Trust to be treated other than as a grantor trust for U.S. federal income tax purposes. (f) Section 12.2 of the Trust Agreement is amended as follows (with strike through representing deletions and underlining and bold representing additions):

General Prohibitions. The Trust shall not, and the Sponsor shall not have the power to cause the Trust to: (a) Receive any property other than Bitcoin ether upon the issuance of Shares; (b) Hold any property other than (i) Bitcoinether, Incidental Rights and IR Virtual Currency, (ii) or cash from the sale of Bitcoin, Incidental Rights ether or IR Virtual Currency and (iii) interests in any liquidating trust or other vehicle formed to hold Incidental Rights or IR Virtual Currency pending distribution of such interests to the Shareholders; (c) Hold any cash from the sale of Bitcoins, Incidental Rights or IR Virtual Currency ether for more than thirty (30) Business Days prior to using such cash to pay Additional Trust Expenses and distributing any remaining cash to the Shareholders; (d) If the redemption of Shares is not authorized pursuant to Section 5.1, redeem any Shares other than upon the dissolution of the Trust; (e) If the redemption of Shares is authorized pursuant to Section 5.1, redeem Redeem the Shares other than (i) to satisfy a Redemption Order from a an Authorized Participant, (ii) as provided in Section 5.2 or Section 5.3 6.8 or (iii) upon the dissolution of the Trust; (fe) Borrow money from, from or loan money to, to any Shareholder, Shareholder (including the Sponsor Sponsor) or any other Person; (gf) Create, incur, assume or suffer to exist any lien, mortgage, pledge conditional sales or other title retention agreement, charge, security interest or encumbrance on or with respect to the Trust Estate, except for (i) liens for taxes not delinquent or being contested in good faith and by appropriate proceedings and for which appropriate reserves have been established and (ii) liens by the Trustee against the Trust property as security for any amounts owing to the Trustee hereunderestablished; (hg) Commingle the Trust Estate with the assets of any other Person; (ih) Permit rebates to be received by the Sponsor or any Affiliate of the Sponsor, or permit the Sponsor or any Affiliate of the Sponsor to engage in any reciprocal business arrangements which would circumvent the foregoing prohibition; (ji) Enter into any contract with the Sponsor or an Affiliate of the Sponsor (A) that, except for selling agreements for the sale of Shares, has a term of more than one year and that does not provide that it may be canceled by the Trust without penalty on one hundred twenty sixty (12060) days prior written notice or (B) for the provision of services, except at rates and terms at least as favorable as those that may be obtained from third parties in arm’s length negotiations; (kj) Enter into any exclusive brokerage contract; (l) Elect Cause the Trust to elect to be treated as an association taxable as a corporation for U.S. federal income tax purposes; or (mk) Notwithstanding any other provision of this Trust Agreement, including Section 6.4(b), take Take any action that could cause would result in the Trust to be being treated other than as a grantor trust for U.S. federal income tax purposes.

General Prohibitions. The Trust shall not, and the Sponsor shall not have the power to cause the Trust to: (a) Receive any property other than Bitcoin upon the issuance of Shares; (b) Hold any property other than (i) Bitcoin, Incidental Rights and IR Virtual Currency, (ii) Bitcoins or cash from the sale of Bitcoin, Incidental Rights or IR Virtual Currency and (iii) interests in any liquidating trust or other vehicle formed to hold Incidental Rights or IR Virtual Currency pending distribution of such interests to the ShareholdersBitcoins; (c) Hold any cash from the sale of Bitcoins, Incidental Rights or IR Virtual Currency Bitcoins for more than thirty (30) Business Days prior to using such cash to pay Additional Trust Expenses and distributing any remaining cash to the Shareholders; (d) If the redemption of Shares is not authorized pursuant to Section 5.1, redeem any Shares other than upon the dissolution of the Trust; (e) If the redemption of Shares is authorized pursuant to Section 5.1, redeem Redeem the Shares other than (i) to satisfy a Redemption Order from a Participant, (ii) as provided in Section 5.2 or Section 5.3 6.10 or (iii) upon the dissolution of the Trust; (fe) Borrow money from, from or loan money to, to any Shareholder, Shareholder (including the Sponsor Sponsor) or any other Person; (gf) Create, incur, assume or suffer to exist any lien, mortgage, pledge conditional sales or other title retention agreement, charge, security interest or encumbrance on or with respect to the Trust Estate, except for (i) liens for taxes not delinquent or being contested in good faith and by appropriate proceedings and for which appropriate reserves have been established and (ii) liens by the Trustee against the Trust property as security for any amounts owing to the Trustee hereunderestablished; (hg) Commingle the Trust Estate with the assets of any other Person; (ih) Permit rebates to be received by the Sponsor or any Affiliate of the Sponsor, or permit the Sponsor or any Affiliate of the Sponsor to engage in any reciprocal business arrangements which would circumvent the foregoing prohibition; (ji) Enter into any contract with the Sponsor or an Affiliate of the Sponsor (A) that, except for selling agreements for the sale of Shares, has a term of more than one year and that does not provide that it may be canceled by the Trust without penalty on one hundred twenty sixty (12060) days prior written notice or (B) for the provision of services, except at rates and terms at least as favorable as those that may be obtained from third parties in arm’s length negotiations;; or (kj) Enter into any exclusive brokerage contract; (l) Elect Cause the Trust to elect to be treated as an association taxable as a corporation for U.S. federal income tax purposes; or (m) Notwithstanding any other provision of this Trust Agreement, including Section 6.4(b), take any action that could cause the Trust to be treated other than as a grantor trust for U.S. federal income tax purposes.

General Prohibitions. The Trust shall not, and the Sponsor shall not have the power to cause the Trust to: (a) Receive any property other than Bitcoin Ether upon the issuance of Shares; (b) Hold any property other than (i) BitcoinEther, Incidental Rights and IR Virtual Currency, (ii) cash from the sale of BitcoinEther, Incidental Rights or IR Virtual Currency and (iii) interests in any liquidating trust or other vehicle formed to hold Ether, Incidental Rights or IR Virtual Currency pending distribution of such interests to the Shareholders; (c) Hold any cash from the sale of BitcoinsEther, Incidental Rights or IR Virtual Currency for more than thirty (30) Business Days prior to using such cash to pay Additional Trust Expenses Expenses, or to fund the redemption of Redemption Baskets, and distributing any remaining cash to the Shareholders; (d) If the redemption of Shares is not authorized pursuant to Section ‎Section 5.1, redeem any Shares other than upon the dissolution of the Trust; (e) If the redemption of Shares is authorized pursuant to Section ‎Section 5.1, redeem the Shares other than (i) to satisfy a Redemption Order from a an Authorized Participant, (ii) as provided in Section ‎Section 5.2 or Section ‎Section 5.3 or (iii) upon the dissolution of the Trust; (f) Borrow money from, or loan money to, any Shareholder, the Sponsor or any other Person; (g) Create, incur, assume or suffer to exist any lien, mortgage, pledge conditional sales or other title retention agreement, charge, security interest or encumbrance on or with respect to the Trust Estate, except for (i) liens for taxes not delinquent or being contested in good faith and by appropriate proceedings and for which appropriate reserves have been established and (ii) liens by the Trustee against the Trust property as security for any amounts owing to the Trustee hereunder; (h) Commingle the Trust Estate with the assets of any other Person; provided that, for the avoidance of doubt, a portion of the Trust Estate may be held in the Settlement Balance from time to time in order to facilitate the creation and redemption of Shares; (i) Permit rebates to be received by the Sponsor or any Affiliate of the Sponsor, or permit the Sponsor or any Affiliate of the Sponsor to engage in any reciprocal business arrangements which would circumvent the foregoing prohibition; (j) Enter into any contract with the Sponsor or an Affiliate of the Sponsor (A) that, except for selling agreements for the sale of Shares, has a term of more than one year and that does not provide that it may be canceled by the Trust without penalty on one hundred twenty (120) days prior written notice or (B) for the provision of services, except at rates and terms at least as favorable as those that may be obtained from third parties in arm’s length negotiations; (k) Enter into any exclusive brokerage contract; (l) Elect to be treated as an association taxable as a corporation for U.S. federal income tax purposes; or (m) Notwithstanding any other provision of this Trust Agreement, including Section ‎Section 6.4(b), take any action that could cause the Trust to be treated other than as a grantor trust for U.S. federal income tax purposes.

General Prohibitions. The Trust shall not, and the Sponsor shall not have the power to cause the Trust to: (a) Receive any property other than Bitcoin bitcoin upon the issuance of Shares; (b) Hold any property other than (i) Bitcoinbitcoin, Incidental Rights and IR Virtual Currency, (ii) or cash from the sale of Bitcoin, Incidental Rights bitcoin or IR Virtual Currency and (iii) interests in any liquidating trust or other vehicle formed to hold Incidental Rights or IR Virtual Currency pending distribution of such interests to the Shareholders; (c) Hold any cash from the sale of Bitcoins, Incidental Rights or IR Virtual Currency bitcoin for more than thirty (30) Business Days prior to using such cash to pay Additional Trust Expenses and distributing any remaining cash to the Shareholders; (d) If the redemption of Shares is not authorized pursuant to Section 5.1, redeem any Shares other than upon the dissolution of the Trust; (e) If the redemption of Shares is authorized pursuant to Section 5.1, redeem Redeem the Shares other than (i) to satisfy a Redemption Order from a an Authorized Participant, (ii) as provided in Section 5.2 or Section 5.3 6.8 or (iii) upon the dissolution of the Trust; (fe) Borrow money from, from or loan money to, to any Shareholder, Shareholder (including the Sponsor Sponsor) or any other Person; (gf) Create, incur, assume or suffer to exist any lien, mortgage, pledge conditional sales or other title retention agreement, charge, security interest or encumbrance on or with respect to the Trust Estate, except for (i) liens for taxes not delinquent or being contested in good faith and by appropriate proceedings and for which appropriate reserves have been established and (ii) liens by the Trustee against the Trust property as security for any amounts owing to the Trustee hereunderestablished; (hg) Commingle the Trust Estate with the assets of any other Person; (ih) Permit rebates to be received by the Sponsor or any Affiliate of the Sponsor, or permit the Sponsor or any Affiliate of the Sponsor to engage in any reciprocal business arrangements which would circumvent the foregoing prohibition; (ji) Enter into any contract with the Sponsor or an Affiliate of the Sponsor (A) that, except for selling agreements for the sale of Shares, has a term of more than one year and that does not provide that it may be canceled by the Trust without penalty on one hundred twenty sixty (12060) days prior written notice or (B) for the provision of services, except at rates and terms at least as favorable as those that may be obtained from third parties in arm’s length negotiations; (kj) Enter into any exclusive brokerage contract; (l) Elect Cause the Trust to elect to be treated as an association taxable as a corporation for U.S. federal income tax purposes; or (mk) Notwithstanding any other provision of this Trust Agreement, including Section 6.4(b), take Take any action that could cause would result in the Trust to be being treated other than as a grantor trust for U.S. federal income tax purposes.