Master Participant Agreement Sample Contracts

MASTER PARTICIPANT AGREEMENT
Master Participant Agreement • May 5th, 2022 • Grayscale Zcash Trust (ZEC) • New York

This Annex A to the Master Participant Agreement (the “Master Participant Agreement”) supplements the Master Participant Agreement, the Memorandum and each Trust Agreement (as defined below) with respect to the procedures (the “Procedures”) to be used in processing (1) creation orders for the creation of one or more Baskets (as defined below) (“Creation Order”) of any Trust listed on Schedule I to the Master Participant Agreement (each, a “Trust”) or (2) redemption orders for the redemption of one or more Baskets (“Redemption Order”) of any Trust. Shares of a Trust may be created or redeemed only in aggregations of 100 Shares (each such aggregation, a “Basket”) of such Trust. Because the creation and redemption of Baskets involve the transfer of digital assets between the Authorized Participant and a Trust, certain processes relating to the underlying digital asset transfers are described below.

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MASTER PARTICIPANT AGREEMENT
Master Participant Agreement • April 14th, 2023 • Grayscale Filecoin Trust (FIL) • New York

This Annex A to the Master Participant Agreement (the “Master Participant Agreement”) supplements the Master Participant Agreement, the Memorandum and each Trust Agreement (as defined below) with respect to the procedures (the “Procedures”) to be used in processing (1) creation orders for the creation of one or more Baskets (as defined below) (“Creation Order”) of any Trust listed on Schedule I to the Master Participant Agreement (each, a “Trust”) or (2) redemption orders for the redemption of one or more Baskets (“Redemption Order”) of any Trust. Shares of a Trust may be created or redeemed only in aggregations of 100 Shares (each such aggregation, a “Basket”) of such Trust. Because the creation and redemption of Baskets involve the transfer of digital assets between the Authorized Participant and a Trust, certain processes relating to the underlying digital asset transfers are described below. If the Authorized Participant has designated a Liquidity Provider, then all references in t

MASTER PARTICIPANT AGREEMENT
Master Participant Agreement • October 3rd, 2022 • Grayscale Digital Large Cap Fund LLC • Commodity contracts brokers & dealers • New York

This Annex A to the Master Participant Agreement (the “Master Participant Agreement”) supplements the Master Participant Agreement, the Memorandum and each LLC Agreement (as defined below) with respect to the procedures (the “Procedures”) to be used in processing (1) Creation Orders for the creation of one or more Baskets (as defined below) (“Creation Order”) of any Fund listed on Schedule I of the Master Participant Agreement (each, a “Fund”) or (2) redemption orders for the redemption of one or more Baskets (“Redemption Order”) of any Fund. Shares of a Fund may be created or redeemed only in aggregations of 100 Shares (each such aggregation, a “Basket”) of such Fund. Because the creation and redemption of Baskets involve the transfer of digital assets between the Authorized Participant and a Fund, certain processes relating to the underlying transfers of digital assets are described below. If the Authorized Participant has designated a Liquidity Provider, then all references in these

MASTER PARTICIPANT AGREEMENT
Master Participant Agreement • April 17th, 2020 • Grayscale Ethereum Trust (ETH) • Finance services • New York

This Annex A to the Master Participant Agreement (the “Master Participant Agreement”) supplements the Master Participant Agreement, the Memorandum and each Trust Agreement (as defined below) with respect to the procedures (the “Procedures”) to be used in processing (1) creation orders for the creation of one or more Baskets (as defined below) (“Creation Order”) of any Trust listed on Schedule I to the Master Participant Agreement (each, a “Trust”) or (2) redemption orders for the redemption of one or more Baskets (“Redemption Order”) of any Trust. Shares of a Trust may be created or redeemed only in aggregations of 100 Shares (each such aggregation, a “Basket”) of such Trust. Because the creation and redemption of Baskets involve the transfer of digital assets between the Authorized Participant and a Trust, certain processes relating to the underlying digital asset transfers are described below.

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