AUTHORIZED PARTICIPANT AGREEMENTAuthorized Participant Agreement • November 2nd, 2016 • Bitcoin Investment Trust • Commodity contracts brokers & dealers • New York
AUTHORIZED PARTICIPANT AGREEMENT (this “Agreement”) dated as of [DATE] among (i) [AUTHORIZED PARTICIPANT], a [company] organized under the laws of [JURISDICTION OF AP] (the “Authorized Participant”), and (ii) Grayscale Investments LLC, in its capacity as sponsor of the Trust (as defined below) (in such capacity, the “Sponsor”), subject to acceptance by (iii) The Bank of New York Mellon, a New York Banking corporation acting in its capacity as administrator (in such capacity, the “Administrator”) of the Bitcoin Investment Trust (the “Trust”), created under Delaware law pursuant to a Trust Agreement between the [Trustee] and the Sponsor, as defined herein, dated September 13, 2013, as it may be amended from time to time (the “Trust Agreement”).
