Creation Basket Deposit definition

Creation Basket Deposit of a Fund means the Deposit made by a Participant in connection with a Purchase Order and the creation of a Creation Basket in an amount equal to the product obtained by multiplying (i) the number of Creation Baskets set forth in the relevant Purchase Order by (ii) the Net Asset Value Per Basket of a Fund calculated on the Purchase Order Date.

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Creation Basket Deposit shall have the meaning and be calculated in the manner specified in Section 2.08 herein.

Creation Basket Deposit means the quantity of ether required to create each Creation Basket in a creation transaction as determined by the Administrator each Business Day. Each Participant is responsible for ensuring that the Creation Basket Deposit and/or the Creation Basket it intends to transfer to the Trust in exchange for Creation Baskets or redemption proceeds, as applicable, is available for transfer to such Trust in the manner and at the times described in these Procedures. Participants will be required to pay a nonrefundable per order transaction fee of $500 to the Transfer Agent (the “Transaction Fee”). • Any Creation Order is subject to acceptance or rejection by the Transfer Agent, in consultation with the Sponsor, for the reasons set forth in the Trust Agreement or the Participant Agreement. • Any Redemption Order is subject to acceptance or rejection by the Transfer Agent, in consultation with the Sponsor, for the reasons set forth in the Trust Agreement or the Participant Agreement. • All Orders are subject to the provisions of the Trust Agreement and the Participant Agreement relating to unclear or ambiguous instructions. BNY Mellon ETF Order Desk ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ New York, NY 10286 Email: ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇.▇▇▇ Phone: ▇-▇▇▇-▇▇▇-▇▇▇▇ Fax: ▇-▇▇▇-▇▇▇-▇▇▇▇ / 9549

Examples of Creation Basket Deposit in a sentence

• By placing a cash Purchase Order, an Authorized Participant agrees to deposit the Creation Basket Deposit.

• On each day that the Exchange is open for regular trading, the Administrator adjusts the quantity of Digital Assets and/or cash constituting the Creation Basket Deposit as appropriate to reflect accrued expenses and any loss of Digital Asset that may occur.

• None of the Sponsor, the Order Examiner or BNY Mellon shall be liable to any person by reason of the rejection of any Purchase Order or Creation Basket Deposit.

• The Order Examiner is under no duty, however, to give notification of any specific defects or irregularities in the delivery of the Creation Basket Deposit nor shall the Order Examiner or the applicable Trust incur any liability for the failure to give any such notification.

• By placing an in-kind Purchase Order, an Authorized Participant agrees to deposit or to arrange for an Authorized Participant Designee to deposit the Creation Basket Deposit.

• Under most circumstances, the Digital Assets associated with a Creation Basket Deposit will be deposited with the Digital Asset Custodian in the applicable Trust’s Cold Vault Balance, although in some circumstances, Digital Asset may be deposited outside of cold storage.

• None of the Sponsor, the Distributor or the Custodian shall be liable to any person by reason of the rejection of any Purchase Order or Creation Basket Deposit.

• The Sponsor shall not be liable to any person by reason of the rejection of any Purchase Order or Creation Basket Deposit.

• The Distributor is under no duty, however, to give notification of any specific defects or irregularities in the delivery of the Creation Basket Deposit nor shall the Distributor or the Trust incur any liability for the failure to give any such notification.

• The AP must also make available on or before the Domestic Contractual Settlement Date, by means satisfactory to the Trust, immediately available or same day funds estimated by the Trust to be sufficient to pay the cash component of the Creation Basket Deposit (the “Cash Component”), together with the applicable purchase Transaction Fee.

More Definitions of Creation Basket Deposit

Creation Basket Deposit means the quantity of bitcoin required to create each Creation Basket in a creation transaction as determined by the Administrator each Business Day. Each Participant is responsible for ensuring that the Creation Basket Deposit and/or the Creation Basket it intends to transfer to the Trust in exchange for Creation Baskets or redemption proceeds, as applicable, is available for transfer to such Trust in the manner and at the times described in these Procedures. Participants will be required to pay a nonrefundable per order transaction fee of $250 to the Transfer Agent (the “Transaction Fee”). • Any Creation Order is subject to acceptance or rejection by the Transfer Agent, in consultation with the Sponsor, for the reasons set forth in the Trust Agreement or the Participant Agreement. • Any Redemption Order is subject to acceptance or rejection by the Transfer Agent, in consultation with the Sponsor, for the reasons set forth in the Trust Agreement or the Participant Agreement. • All Orders are subject to the provisions of the Trust Agreement and the Participant Agreement relating to unclear or ambiguous instructions. BNY Mellon ETF Order Desk ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ New York, NY 10286 Email: ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇.▇▇▇ Phone: ▇-▇▇▇-▇▇▇-▇▇▇▇ Fax: ▇-▇▇▇-▇▇▇-▇▇▇▇ / 9549