A Quantitative Investment Firm for Digital Assets

The officers of Cambrian Asset Management operate other fund vehicles and accounts, including a private hedge fund that uses similar strategies as the Trust. Because the officers of the Sponsor may trade Bitcoin, Ethereum or other digital assets for themselves or other fund vehicles and accounts (subject to certain internal trading policies and procedures) at the same time that they are managing the account of the Trust, prospective investors should be aware that the activities of the officers of Cambrian, subject to their fiduciary duties, may, from time‑to‑time, result in taking positions in their other trading accounts which are opposite of the positions taken for the Trust.Carefully consider each Trust’s investment objectives, risk factors, fees and expenses before investing. This and other information can be found in each Trust’s private placement memorandum, which may be obtained from Cambrian Asset Management.  There can be no assurance that Cambrian Asset Management's objectives will be achieved or investment strategies will be successful. Past performance is not indicative of future results.

Investments in the Trusts are speculative investments that involve high degrees of risk, including a partial or total loss of invested funds. Cambrian Asset Management’s Trusts are not suitable for any investor that cannot afford loss of the entire investment. The shares of each Trust are intended to reflect the price of the assets held by such Trust, less such Trust’s expenses and other liabilities. Because each Trust does not currently operate a redemption program, there can be no assurance that the value of such Trust’s shares will reflect the value of the assets held by such Trust, less such Trust’s expenses and other liabilities, and the shares of such Trust, if traded on any secondary market, may trade at a substantial premium over, or a substantial discount to, the value of the assets held by such Trust, less such Trust’s expenses and other liabilities, and such Trust may be unable to meet its investment objective.

Cambrian Asset Management and its officers do not make any representation or warranty to any prospective investor regarding the legality of an investment by such person under applicable securities or other laws.  An offering of securities will only be made pursuant to a confidential private placement memorandum and the governing documents of the Trust, each of which will be furnished on a confidential basis to qualified, “accredited investors” as defined in Rule 501(a) of Regulation D under the Securities Act of 1933 (the “Securities Act”). This information should not be relied upon as research, legal, tax or investment advice, or a recommendation regarding any Trusts, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.

The shares of each Trust are not registered under the Securities Act, the Securities Exchange Act of 1934, the Investment Company Act of 1940, or any state securities laws. The Trusts are offered in private placements pursuant to the exemption from registration provided by Rule 506(c) under Regulation D of the Securities Act and are only available to accredited investors. As a result, the shares of each Trust are restricted and subject to significant limitations on resales and transfers. Potential investors in any Trust should carefully consider the long-term nature of an investment in that Trust prior to making an investment decision.

“Cambrian Asset Management” name and logo are trademarks and properties of Cambrian Asset Management, Inc. Cambrian Asset Management is comprised of Cambrian Asset Management, Inc. and its affiliates.