Re: Notice of Changes to the Custody Agreement

May 23, 2011

The Bank of New York Mellon

Xxx Xxxx Xxxxxx, 25^th Floor

New York, NY 10286

Attn: Xxxx Xxxxxxxxxxx

Re: Notice of Changes to the Custody Agreement

Dear Xx. Xxxxxxxxxxx:

Reference is made to that certain Custody Agreement, between Grail Advisors ETF Trust (the “Trust”), and The Bank of New York Mellon (“BNY”) dated as of March 20, 2009, as amended and supplemented from time to time (the “Agreement”), between the Trust and BNY.

The Trust hereby advises you of the following series name change as of April 30, 2011:

New Name		Prior Name
Columbia Concentrated Large Cap Value Strategy Fund		Grail American Beacon Large Cap Value ETF

The Trust hereby advises you of the following Trust and series name changes as of the close of business on May 20, 2011:

New Name		Prior Name
Columbia ETF Trust		Grail Advisors ETF Trust
Columbia Core Bond Strategy Fund		Grail XxXxxxxxx Taxable Core Bond ETF
Columbia Growth Equity Strategy Fund		RP Growth ETF
Columbia Intermediate Municipal Bond Strategy Fund		Grail XxXxxxxxx Intermediate Municipal Bond ETF
Columbia Large-Cap Growth Equity Strategy Fund		RP Focused Large Cap Growth ETF

Accordingly, the attached Schedule II dated May 23, 2011 shall supersede any previous Schedule II to the Agreement.

In addition, the Trust hereby notifies you that the notice address appearing in Article X of the Agreement (or any notices given prior to the date of this letter) for the Trust is deleted and replaced in its entirety with the below addresses for the Trust or any series:

Address for Notices to the Trust or any series:

Columbia Management Investment Advisers, LLC

ATTN: Xxxxxx X. XxXxxxx

000 Xxxxxxxx Xxxxxx, XX00-00000

Boston, MA 02110

Telephone: 000-000-0000

Email: xxxxxx.xxxxxxx@xxxxxxxxxxxxxxxxxx.xxx

With a Copy to:

Ameriprise Financial

Legal Department

ATTN: Xxxxxxxxxxx X. Xxxxxxxx

50606 Ameriprise Financial Center, Minneapolis, MN 55474

Routing: H27/5228

Telephone: 000-000-0000

Facsimile: 000-000-0000

Email: xxxxxxxxxxx.x.xxxxxxxx@xxxx.xxx

Address for Invoices:

Columbia Management Investment Advisers, LLC

ATTN: Xxxxxx X. XxXxxxx

000 Xxxxxxxx Xxxxxx, XX00-00000

Boston, MA 02110

Telephone: 000-000-0000

Email: xxxxxx.xxxxxxx@xxxxxxxxxxxxxxxxxx.xxx

We hereby request that you acknowledge the receipt of this notice by returning two signed copies of this letter to the undersigned.

Very Truly Yours,

Columbia ETF Trust

By
Name:		Xxxxxx X. XxXxxxx
Title:		Vice President and Chief Accounting Officer

By

Name:

Title:

Schedule II

As of May 23, 2011

Columbia ETF Trust

Columbia Concentrated Large Cap Value Strategy Fund

Columbia Core Bond Strategy Fund

Columbia Growth Equity Strategy Fund

Columbia Intermediate Municipal Bond Strategy Fund

Columbia Large-Cap Growth Equity Strategy Fund