Investors should carefully consider the investment objectives and risks as well as fees and expenses of the trust before investing. More information, including calculation methodologies for "Bitcoin Holdings" and "Bitcoin Holdings per Share,” can be found in the trust’s private placement memorandum. Investors should read the trust’s private placement memorandum carefully before making an investment. Investments in the trust are speculative investments that involve high degrees of risk, including a partial or total loss of invested funds. An investment in the trust is not suitable for any investor that cannot afford loss of the entire investment. The shares of the trust are intended to reflect the price of the Bitcoin held by the trust (based on Bitcoin per share), minus the trust’s fees and expenses. Because the trust does not currently operate a redemption program, there can be no assurance that the value of the trust’s shares will reflect the value of the Bitcoin held by the trust, minus the trust’s fees and expenses, and the shares of the trust, if traded on any secondary market, may trade at a substantial premium over, or a substantial discount to, the value of the Bitcoin held by the trust, minus the trust’s fees and expenses. The trust may also be unable to meet its investment objective. The shares of the trust are not registered under the Securities Act of 1933 (the “Securities Act”), the Securities Exchange Act of 1934, the Investment Company Act of 1940, or any state or other securities laws. The shares of the trust are offered in private placements pursuant to the exemption from registration provided by Rule 506(c) under Regulation D of the Securities Act and is only available to “accredited investors,” as such term is defined under Regulation D of the Securities Act. As a result, the shares of the trust are restricted and subject to significant limitations on transfers and resales. There is currently no secondary market for shares of the trust and there can be no assurances that one will develop. Investors should consider an investment in the trust's shares to be an illiquid investment and should invest only if prepared to hold the shares indefinitely. This information, which should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular, is strictly for illustrative, educational, or informational purposes and is subject to change. Nothing contained herein should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. © 2021 All Rights Reserved.
1. The aggregate value, expressed in U.S. dollars, of the Trust's assets (other than U.S. dollars or other fiat currency), less its liabilities (which include estimated accrued but unpaid fees and expenses).
2. Bitcoin Holdings divided by the number of Shares Outstanding.
3. Source: Coin Metrics Bletchley Index (CMBI) Bitcoin at its 4:00 p.m. close level. CERTAIN PRODUCTS AND SERVICES OF BLOCKFI MANAGEMENT LLC AND ITS AFFILIATES (“BLOCKFI GROUP”) USE INDEX AND OTHER DATA FROM COIN METRICS, INC. UNDER LICENSE AS A SOURCE OF INFORMATION. COIN METRICS, INC. HAS NO OTHER CONNECTION TO ANY BLOCKFI GROUP PRODUCT OR SERVICE AND DOES NOT SPONSOR, ENDORSE, RECOMMEND, MANAGE OR PROMOTE ANY BLOCKFI GROUP PRODUCT OR SERVICE. COIN METRICS, INC. HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH THE BLOCKFI GROUP PRODUCTS OR SERVICE. BLOCKFI IS NOT RESPONSIBLE FOR THE CALCULATION OF THE INDEX.
4. There is currently no secondary market for the shares and no there is no guarantee that a secondary market will develop.