Index Constituents definition
Examples of Index Constituents in a sentence
The Trust shall not acquire or own any assets other than Index Constituents, cash in connection with Creation Orders or Redemption Orders or cash from the sale of Index Constituents pending use of such cash for payment of the Sponsor fee, Trust Expenses, Additional Trust Expenses or distribution to the Shareholders, as provided in this Trust Agreement, or from time to time, Incidental Rights.
The Trust shall not engage in any business activity and shall not acquire or own any assets other than Index Constituents, cash or cash from the sale of Index Constituents, pending use of such cash for payment of the Sponsor fee, Trust Expenses, Additional Trust Expenses or distribution to the Shareholders, as provided in this Trust Agreement, or take any of the actions set forth in Section 1.11.
Notwithstanding any of the foregoing, the Crypto Custodian may accept delivery of Index Constituents by such other means as the Sponsor, from time to time, may determine to be acceptable for the Trust.
In determining the Trust’s holdings, the Administrator will value the Index Constituents held by the Trust based on the Index Constituent Settlement Price, unless the prices are not available or the Administrator, in its sole discretion, determines that the Index Constituent Settlement Price is unreliable (“Fair Value Event”).
For settlement of a cash redemption, the Authorized Participant delivers the necessary Shares to the Trust, a Crypto Trading Counterparty delivers the cash to the Trust associated with the Trust’s sale of Index Constituents, the Trust delivers crypto assets to the Crypto Trading Counterparty’s account and the Trust delivers cash to the Authorized Participant.