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FUND FEES AND EXPENSES <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund (“Shares”). You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below. <table class="NOGUTTER" style="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 10pt 0;"> <tr class="NOGUTTER _idGenTableRowColumn-3"> <td class="TB" colspan="2" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;padding-left:0pt;width: 100.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom"> <p class="TCH_JOIN" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-left:6pt;margin-right:6pt;text-align:left;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-3"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-top-style:solid;border-top-width:1pt;padding-left:0pt;width: 91.85%; padding: 0in 0in 3px 0in;border-width: 0pt;border-top: windowtext 1pt none; border-top-style: solid;" valign="bottom"> <p class="Tbody" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:6pt;margin-right:6pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:0;widows:1;">Management Fees </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-top-style:solid;border-top-width:1pt;padding-left:0pt;width: 8.15%; padding: 0in 0in 3px 0in;border-width: 0pt;border-top: windowtext 1pt none; border-top-style: solid;" valign="bottom"> <p class="Tbody_bracket" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;text-align:center;">0.75% </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-3"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 91.85%; padding: 0in 0in 3px 0in;border-width: 0pt;" valign="bottom"> <p class="Tbody" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:6pt;margin-right:6pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:0;widows:1;">Distribution and Service (12b-1) Fees </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 8.15%; padding: 0in 0in 3px 0in;border-width: 0pt;" valign="bottom"> <p class="Tbody_bracket" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;text-align:center;">0.00% </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-3"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;padding-left:0pt;width: 91.85%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom"> <p class="Tbody" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:6pt;margin-right:6pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:0;widows:1;">Other Expenses(1) </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;padding-left:0pt;width: 8.15%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid; padding: 0in 0in 2px 0in;" valign="bottom"> <p class="Tbodyrule1_JOIN" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:12pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;text-align:center;">0.00% </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-3"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:double;border-bottom-width:2pt;border-top-style:solid;border-top-width:1pt;padding-left:0pt;width: 91.85%; padding: 0in 0in 3px 0in;border-width: 0pt;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;border-bottom: Black 2.5pt double; border-bottom-style: double; padding: 0in 0in 1px 0in;" valign="bottom"> <p class="Tbody_rule2_JOIN" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-left:6pt;text-align:left;">Total Annual Fund Operating Expenses </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:double;border-bottom-width:2pt;border-top-style:solid;border-top-width:1pt;padding-left:0pt;width: 8.15%; padding: 0in 0in 3px 0in;border-width: 0pt;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;border-bottom: Black 2.5pt double; border-bottom-style: double; padding: 0in 0in 1px 0in;" valign="bottom"> <p class="Tbodyrule2-brack-_JOIN" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:16pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;text-align:center;">0.75% </td> </tr> </table> <p class="Text_flush_1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:6pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:16pt;text-indent:-16pt;margin-top:6pt;">(1) Estimate based on the expenses the Fund expects to incur for the current fiscal year. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0075 0 0 0.0075 Estimate based on the expenses the Fund expects to incur for the current fiscal year. EXAMPLE <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. This example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain at current levels. This example does not include the brokerage commissions that investors may pay to buy and sell Shares. Although your actual costs may be higher or lower, your costs, based on these assumptions, would be: <table class="NOGUTTER2" style="width: 30%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt auto 10pt auto;"> <tr class="NOGUTTER2"> <td class="NOGUTTER2 TCH CellOverride-5" style="width: 50.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom"> <p class="TCH" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;">1 YEAR </td> <td class="NOGUTTER2 TCH CellOverride-5" style="width: 50.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom"> <p class="TCH" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;">3 YEARS </td> </tr> <tr class="NOGUTTER2"> <td class="NOGUTTER2 TB CellOverride-6" style="width: 50.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-top: windowtext 1pt none; border-top-style: solid;" valign="bottom"> <p class="Tbody_centeralign" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:6pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;">$77 </td> <td class="NOGUTTER2 TB CellOverride-6" style="width: 50.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-top: windowtext 1pt none; border-top-style: solid;" valign="bottom"> <p class="Tbody_centeralign" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:6pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;">$240 </td> </tr> </table> 77 240 PORTFOLIO TURNOVER <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">The Fund pays transaction costs, such as commissions, when it purchases and sells securities (or “turns over” its portfolio). A higher portfolio turnover will cause the Fund to incur additional transaction costs and may result in higher taxes when Shares are held in a taxable account. These costs, which are not reflected in Total Annual Fund Operating Expenses or in the example, may affect the Fund’s performance. Because the Fund has not yet commenced investment operations, no portfolio turnover information is available at this time. PRINCIPAL INVESTMENT STRATEGIES <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">The Fund seeks to participate in the price return of SOL (“SOL Price”) and to generate a high level of annualized option premium by selling options on U.S.-regulated ETFs that provide exposure to SOL (“Solana ETPs”). SOL is a digital asset that is created and transmitted through the operations of the peer-to-peer Solana network, a decentralized network of computers that operates on cryptographic protocols. As further described below, the Fund expects to sell call options that are approximately 5-10% “out of the money” with targeted maturities of one week or less, on Solana ETPs that derive exposure to SOL through investments in exchange-traded futures contracts that utilize SOL as a reference asset (“Solana Futures ETFs”) and Solana ETPs that hold SOL directly (“Solana Spot ETFs”). The Fund will seek to vary its option selling each week to a level sufficient to generate 36% annualized option premium (the “Target Option Premium”), based upon the NAV of the Fund each time the Fund sells the weekly options contracts. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Please note that there is no guarantee the Fund will achieve the Target Option Premium in any given year. While the Fund seeks to generate the Target Option Premium, the actual premium earned during a one-year period will depend on the NAV of the Fund each time the Fund sells the weekly option contracts. Therefore, the actual premium income generated over a one-year period could be higher or lower than the Target Option Premium, depending on changes in the Fund’s NAV over time. If the NAV of the Fund remains level or decreases during any one-year period, the annualized premium generated by the Fund may be significantly less than the Target <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Option Premium for that time period. The Target Option Premium is not a projection or guarantee of the Fund’s future performance or total return. Notwithstanding any distributions of premium income or the realization of the Fund’s options strategies, shareholders may still experience losses if the Fund’s investment exposure to Solana ETPs perform poorly. Additionally, distributions paid to shareholders may vary annually. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">The Fund expects to make distributions from the premium income generated from its call writing strategy, if any, on a monthly basis. Distributions in excess of the Fund’s current and accumulated earnings and profits will be treated as a return of capital. Return of capital reduces a shareholder’s costs basis in the Fund’s shares and will reduce the Fund’s NAV per share. The Fund expects that distributions will be comprised primarily of amounts attributable to the Target Option Premium. The Fund is not targeting a specific rate of distribution. There is no guarantee that the Fund will make a distribution to shareholders in any given period. Amplify Investments LLC (“Amplify Investments” or the “Adviser”) serves as the investment adviser to the Fund. Kelly Strategic Management, LLC (doing business as Kelly Intelligence) (“Kelly Intelligence”) and Penserra Capital Management LLC (“Penserra,” together with Kelly Intelligence, the “Sub-Advisers”) serve as investment sub-advisers to the Fund. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in financial instruments that provide exposure to the SOL Price. The Fund’s portfolio holdings universe is described below. As of the date of this prospectus, the Fund intends to achieve its investment objective by investing in shares of a Solana Futures ETF and selling options on Solana Futures ETF, with investment exposure to Solana Spot ETFs subject to investments available to the Fund. <table class="NOGUTTER" style="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 10pt 0;"> <tr class="NOGUTTER _idGenTableRowColumn-7"> <td class="TCH" colspan="3" style="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-top-color:#000000;border-top-width:1pt;width: 100.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom"> <p class="TCH" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;">Principal Holdings </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-7"> <td class="TCH" style="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;width: 28.89%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom"> <p class="TCH" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;">Portfolio Holdings </td> <td class="TCH" style="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;width: 42.22%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom"> <p class="TCH" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;">Investment Description </td> <td class="TCH" style="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;width: 28.89%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom"> <p class="TCH" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;">Expected Maturity </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-3"> <td class="TB" colspan="3" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;vertical-align:top;width: 100.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-10pt;widows:1;margin-left:3pt;margin-right:3pt;text-align:center;text-indent:0pt;">Long Exposure </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-10"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 28.89%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Shares of Solana ETPs </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 42.22%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">A portion of the Fund’s long exposure to the SOL Price will come through the Fund owning shares of the Solana Futures ETFs and/or shares of the Solana Spot ETFs. </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 28.89%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:8pt;">N/A </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-11"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 28.89%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Solana ETP Options </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 42.22%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">The Fund will use options that reference a Solana Futures ETF or Solana Spot ETF (each, a “Solana ETP Option” and collectively, the “Solana ETP Options”) for synthetic exposure to the corresponding Solana ETP. The Fund may use the combination of purchasing call options and selling put options generally in the same amount, at the same strike price with the same expiration or may purchase an in-the-money call option. This synthetically creates the upside and downside participation in the SOL Price, as represented by the Solana ETP. </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 28.89%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:8pt;">1 year or less </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-12"> <td class="TB" colspan="3" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 100.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-10pt;widows:1;margin-left:3pt;margin-right:3pt;margin-top:8pt;text-align:center;text-indent:0pt;">Covered Call Writing </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-13"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 28.89%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Solana ETP Options </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 42.22%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Call options are sold on corresponding Solana Futures ETFs or Solana Spot ETFs approximately 5-10% “out-of-the-money” (i.e. the strike price is above the strike price of the corresponding sold call) to generate an annualized premium of 36%. The Fund will vary the percentage of its portfolio on which it sells options in order to achieve this level of premium. </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 28.89%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:8pt;">One week or less </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-12"> <td class="TB" colspan="3" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 100.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-10pt;widows:1;margin-left:3pt;margin-right:3pt;margin-top:8pt;text-align:center;text-indent:0pt;">U.S. Treasuries </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-10"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 28.89%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">U.S Treasuries and Cash </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 42.22%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Multiple series of U.S. Treasury Bills supported by the full faith and credit of the U.S. government. These instruments are used as collateral for the Solana ETP Options. </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-style:solid;border-bottom-width:1pt;border-left-style:solid;border-left-width:1pt;border-right-style:solid;border-right-width:1pt;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 28.89%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">1-month to 2-year maturities </td> </tr> </table><p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">SOL Price Exposure. The Fund will obtain investment exposure to the SOL Price by investing in Solana ETPs (which may include Solana Futures ETFs, Solana Spot ETFs or a combination of the two) that provide investment exposure to the SOL Price or by buying and selling a combination of Solana ETP Options that reference a Solana Futures ETF or Solana Spot ETF. Solana Spot ETFs are exchange-traded investment products not registered under the Investment Company Act of 1940, as amended (the “1940 Act”), that reflect the price of SOL, before fees and expenses, by purchasing and storing SOL in a digital vault and issuing exchange-listed shares that correspond to the price of SOL it holds and trade intra-day on a national securities exchange. Solana Spot ETFs are passively managed and their sponsors do not actively manage the exposure to SOL held by the Solana Spot ETF. Solana Futures ETFs are exchange-traded investment products registered under the 1940 Act that seek investment results that correspond to the performance of SOL primarily through investments in SOL futures contracts. Solana Futures ETFs are actively managed and invest in SOL futures contracts in order to gain price exposure to SOL. Additional information regarding the Solana ETPs is available in “Additional Information Regarding the Fund’s Principal Investment Strategies.” <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">The Fund may invest in shares of the Solana ETPs indirectly through a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). Except as noted herein, for purposes of this Prospectus, references to the Fund’s investment strategies and risks include those of the Subsidiary. Because the Fund intends to qualify for treatment as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), the size of the Fund’s investment in the Subsidiary will not exceed 25% of the Fund’s total assets at each quarter end of the Fund’s fiscal year. See “Cayman Subsidiary” below for additional information. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">In addition to its investments in Solana ETPs, the Fund expects to also obtain exposure to the SOL Price by buying and selling a combination of Solana ETP Options that reference a Solana Spot ETF and/or a Solana Futures ETF. In general, put options give the holder (i.e., the buyer) the right to sell an asset (or deliver the cash value of the asset, in case of certain put options) and the seller (i.e., the writer) of the put has the obligation to buy the asset (or receive cash value of the asset, in case of certain put options) at a certain defined price (the “strike price”). Call options give the holder (i.e., the buyer) the right to buy an asset (or receive cash value of the asset, in case of certain call options) and the seller (i.e., the writer) the obligation to sell the asset (or deliver cash value of the asset, in case of certain call options) at a certain defined strike price. The Fund’s options exposure to the Solana ETPs is considered to be “synthetic.” The synthetic exposure may be created through the combination of purchasing call options and selling put options generally in the same amount, at the same strike price with the same expiration. This combination synthetically creates the upside and downside participation in the SOL Price, as represented by the Solana ETP. The Fund will primarily gain exposure to increases in value experienced by the Solana ETP through the purchase of call options. As a buyer of these options, the Fund pays a premium to the seller of the options. The Fund will primarily gain exposure to decreases in the SOL Price experienced by the Solana ETP through the sale of put options. As the seller of these options, the Fund receives a premium from the buyer of the options. In combination, the purchased call and sold put options generally provide exposure to the SOL Price both on the upside and downside. Alternatively, the Fund may purchase an in-the-money call option to synthetically participate in the upside and downside participation in the SOL Price as represented by the Solana ETP. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Target Option Premium. The Fund seeks to generate the Target Option Premium by selling Solana ETP Options contracts. The Fund will target options contracts with a one week or less expiration. The Fund sells call option contracts at approximately 5-10% above the then-current value of a Solana ETP, also known as “out-of-the-money.” In seeking to obtain the Target Option Premium, the Fund varies the size of the written call option contract attributable to the Solana ETP in order to generate this sought-after Target Option Premium based upon the NAV of the Fund at the time the Fund writes the call options. Factors that impact the amount of premium generated in a written call option contract include: (i) time to expiration; (ii) strike price; and (iii) volatility of the underlying asset. The Fund sells new call option contracts each week that seek the Target Option Premium upon the expiration of its sold option contract. The amount of the portfolio that the Fund writes options on will vary depending on a variety of factors, but under normal circumstances, the Fund expects to write options on 60% or less of its portfolio. By selling out-of-the-money call options, the Fund will participate in any gains of the SOL Price up to the strike price of the sold call option contract and will forfeit any of the upside market appreciation (if any) experienced by the Solana ETP for which the options are written in exchange for premium received. This strategy effectively converts a portion of the potential upside SOL Price return growth into current income. In a traditional covered call strategy, an investor (such as the Fund) writes a call option on a security it owns. However, the Fund expects to derive exposure to Solana ETPs through the use of Solana ETP Options that use the Solana ETPs as the reference asset. This distinction causes the Fund’s strategy to be commonly referred to as a “synthetic covered call strategy” as opposed to a traditional covered call strategy, because the Fund expects to have synthetic exposure to the SOL Price through Solana ETP Options. While the Fund seeks to generate the Target Option Premium, the actual premium earned during a one-year period will depend on the NAV of the Fund at the time the options are sold. Therefore, the actual premium income generated over a one-year period could be higher or lower than the Target Option Premium, depending on changes in the Fund’s NAV over time. If the NAV of the Fund remains level or decreases during any one-year period, the annualized premium generated by the Fund may be significantly less than the Target Option Premium for that time period. See ”Option Contracts Risk — Call Option Strategy Risk” and “Target Option Premium Risk” below for additional risks associated with the Fund’s call option writing strategy. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">The Fund intends to utilize traditional exchange-traded options contracts and/or FLexible EXchange® Options (“FLEX Options”). The Fund will only invest in options contracts that are listed for trading on regulated U.S. exchanges. Traditional exchange-traded options have standardized terms, such as the type (call or put), the reference asset, the strike price and expiration date. Exchange-listed options <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">contracts are guaranteed for settlement by the Options Clearing Corporation (“OCC”). FLEX Options are a type of exchange-listed options contract with uniquely customizable terms that allow investors to customize key terms like type, strike price and expiration date that are standardized in a typical options contract. FLEX Options are also guaranteed for settlement by the OCC. Option contracts can either be “American” style or “European” style. The Fund utilizes European style option contracts, which may only be exercised by the holder of the option contract on the expiration date of such option contract and settled in cash. Therefore, if the price of the Solana ETP exceeds the strike price, and the option contract is exercised, the Fund will be obligated to deliver the cash value of the difference between the then current price of the Solana ETP and the strike price for the number of shares contemplated by the option contract. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">The Fund will invest its remaining assets in U.S. Treasuries, cash or cash-like investments. The Fund does not invest directly in SOL. An investment in the Fund is not an investment in SOL. <p class="H2" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:avoid;page-break-before:auto;text-align:left;text-indent:0;widows:2;margin-top:12pt;">Examples: <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">The following table provides an overview of the Fund’s anticipated performance versus various changes in the share price of a Solana ETP when the call option strategy is employed for the duration of the Solana ETP Options contracts. <table class="NOGUTTER" style="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 10pt 0;"> <tr class="NOGUTTER _idGenTableRowColumn-7"> <td class="TCH" colspan="3" style="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-top-color:#000000;border-top-width:1pt;width: 100.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom"> <p class="Texttable_wrap_C" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:8pt;margin-left:10pt;margin-right:0;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:-10pt;widows:1;">Overview of anticipated performance in various market conditions </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-15"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">A rise in share price of the Solana ETP that does not exceed the strike price of the sold calls at expiration </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:6pt;margin-right:6pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Increase in the Fund NAV and outperformance vs the Solana ETP </td> <td class="TB" rowspan="3" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:6pt;margin-right:6pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">In targeting strike prices that are 5-10% “out-of-the-money” on a weekly basis the Fund should participate in the upside on the first 10% rise in share price of the Solana ETP </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-16"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">A slight decline in share price of the Solana ETP or flat performance </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:6pt;margin-right:6pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Increase or flat Fund NAV and outperformance vs the Solana ETP </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-16"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">A significant decline in share price of the Solana ETP </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-top:8pt;vertical-align:top;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:6pt;margin-right:6pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Decline in the Fund NAV and outperformance vs the Solana ETP </td> </tr> <tr class="NOGUTTER _idGenTableRowColumn-17"> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-top:7pt;vertical-align:top;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_wrap_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:3pt;margin-right:3pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">A significant rise in share price of the Solana ETP that exceeds the strike price of the sold calls at expiration </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-top:7pt;vertical-align:top;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:6pt;margin-right:6pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Increase in the Fund NAV and underperformance vs the Solana ETP </td> <td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-top:7pt;vertical-align:top;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top"> <p class="Texttable_ind" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:8pt;margin-left:6pt;margin-right:6pt;margin-top:8pt;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">In targeting strike prices that are 5-10% “out-of-the-money” on a weekly basis the Fund should participate in the upside on the first 10% rise in share price of the Solana ETPs. Beyond the first 10% increase the Fund would only participate in upside to the extent the Solana ETP shares are uncovered </td> </tr> </table> <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">To further illustrate, the following scenarios compare the potential outcomes of the Fund’s strategy: <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Scenario 1: <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">• Solana ETP share price: $25.00 <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">• Strike Price of Sold Covered Call: $26.25 <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">• Premium Received: $0.50 <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">• Percent of long exposure Solana ETP shares covered: 35% <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">• Annualized Option Premium: 36% <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Outcome: <p class="NL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">1. The Fund would participate on the first 5% of upside on the entire portfolio until the sold call option expires. The Fund also retains the initial $0.50 premium. <p class="NL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">2. To the extent that the Solana ETP price exceeds 5% appreciation, only 65% of the portfolio (i.e., the uncovered portion of the portfolio) would continue to participate in the price return gains experienced by the Solana ETP.<p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Scenario 2: <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">• Solana ETP share price: $25.00 <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">• Strike Price of Sold Covered Call: $27.50 <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">• Premium Received: $0.30 <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">• Percent of long exposure Solana ETP shares covered: 58% <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">• Annualized Option Premium: 36% <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Outcome: <p class="NL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">1. The Fund would participate on the first 10% of upside on the entire portfolio until the sold call option expires. The Fund also retains the initial $0.30 premium. <p class="NL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;margin-left:48pt;text-indent:-24pt;margin-top:9pt;">2. To the extent that the Solana ETP price exceeds 10% appreciation, only 42% of the portfolio (i.e., the uncovered portion of the portfolio) would continue to participate in the price return gains experienced by the Solana ETP. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Solana. SOL is a digital asset that is created and transmitted through the operations of the peer-to-peer Solana network, a decentralized network of computers that operates on cryptographic protocols. No single entity owns or operates the Solana network, the infrastructure of which is collectively maintained by a decentralized user base. The Solana network allows people to exchange tokens of value, called SOL, which are recorded on a public transaction ledger known as a blockchain. SOL can be used to pay for goods and services, including computational power on the Solana network, or it can be converted to fiat currencies, such as the U.S. dollar, at rates determined on digital asset exchanges or in individual end-user-to-end-user transactions under a barter system. Furthermore, the Solana network was designed to allow users to write and implement smart contracts — that is, general-purpose code that executes on every computer in the network and can instruct the transmission of information and value based on a sophisticated set of logical conditions. Using smart contracts, users can create markets, store registries of debts or promises, represent the ownership of property, move funds in accordance with conditional instructions and create digital assets other than SOL on the Solana network. Smart contract operations are executed on the Solana blockchain in exchange for payment of SOL. Like the Ethereum network, the Solana network is one of a number of projects intended to expand blockchain use beyond just a peer-to-peer money system. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">The Solana protocol introduced the Proof-of-History (“PoH”) timestamping mechanism. PoH automatically orders on-chain transactions by creating a historical record that proves an event has occurred at a specific moment in time. PoH is intended to provide a transaction processing speed and capacity advantage over other blockchain networks like Bitcoin and Ethereum, which rely on sequential production of blocks and can lead to delays caused by validator confirmations. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">In addition to the PoH mechanism described above, the Solana network uses a proof-of-stake consensus mechanism to incentivize SOL holders to validate transactions. Unlike proof-of-work, in which miners expend computational resources to compete to validate transactions and are rewarded coins in proportion to the amount of computational resources expended, in proof-of-stake, validators risk or “stake” coins to compete to be randomly selected to validate transactions and are rewarded coins in proportion to the amount of coins staked. Any malicious activity, such as disagreeing with the eventual consensus or otherwise violating protocol rules, results in the forfeiture or “slashing” of a portion of the staked coins. Proof-of-stake is viewed as more energy efficient and scalable than proof-of-work and is sometimes referred to as “virtual mining”. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">SOL has no fixed maximum supply, meaning it operates on an inflationary model. Initially, the network launched with 500 million tokens, but this total has increased over time due to inflation mechanisms and staking rewards. The inflation rate started at 8% annually. It decreases by 15% each year until it stabilizes at a long-term rate of 1.5% per year. This inflationary design ensures that new tokens are continuously issued, primarily as rewards for validators and stakers, while some tokens are burned through transaction fees to offset supply growth. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Cayman Subsidiary. The Fund may invest in the Solana ETPs indirectly by investing a portion of its assets in the Subsidiary. The Subsidiary and the Fund will have the same investment adviser, investment sub-advisers and investment objective. The Subsidiary will also follow the same general investment policies and restrictions as the Fund. Except as noted herein, for purposes of this Prospectus, references to the Fund’s investment strategies and risks include those of the Subsidiary. The Fund complies with the provisions of the Investment Company Act of 1940, as amended (the “1940 Act”) governing investment policies and capital structure and leverage on an aggregate basis with the Subsidiary. Furthermore, the Adviser, as the investment adviser to the Subsidiary, complies with the provisions of the 1940 Act relating to investment advisory contracts as it relates to its advisory agreement with the Subsidiary. The Subsidiary also complies with the provisions of the 1940 Act relating to affiliated transactions and custody. Because the Fund intends to qualify for treatment as a RIC under the Code, the size of the Fund’s investment in the Subsidiary will not exceed 25% of the Fund’s total assets at <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">or around each quarter end of the Fund’s fiscal year. In order to continue to qualify as a RIC, the Fund will have to reduce its exposure to the Subsidiary on or around the end of each of the Fund’s fiscal quarter ends. At other times of the year, the Fund’s investments in the Subsidiary may significantly exceed 25% of the Fund’s total assets. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Diversification Status. The Fund is classified as a “non-diversified company” under the 1940 Act. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in financial instruments that provide exposure to the SOL Price. You could lose money by investing in the Fund. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Active Market Risk. Although the Shares are listed for trading on the Exchange, there can be no assurance that an active trading market for the Shares will develop or be maintained. Shares trade on the Exchange at market prices that may be below, at or above the Fund’s net asset value. Securities, including the Shares, are subject to market fluctuations and liquidity constraints that may be caused by such factors as economic, political, or regulatory developments, changes in interest rates, and/or perceived trends in securities prices. Shares of the Fund could decline in value or underperform other investments. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Solana Futures ETF Risk. Solana Futures ETFs are exchange-traded investment products registered under the 1940 Act that seek investment results that correspond to the performance of SOL primarily through investments in SOL futures contracts. Solana Futures ETFs trade on a securities exchange, although the shares of a Solana Futures ETF may, at times, trade at a premium or discount to its net asset value. Solana Futures ETFs have managed exposure to SOL futures contracts, which primarily consistent of standardized, cash-settled SOL futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission (“CFTC”). <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">SOL Futures Risk. Risks of futures contracts include: (i) an imperfect correlation between the value of the futures contract and the underlying asset; (ii) possible lack of a liquid secondary market; (iii) the inability to close a futures contract when desired; (iv) losses caused by unanticipated market movements, which may be unlimited; (v) an obligation for a Solana Futures ETF to make daily cash payments to maintain its required margin, particularly at times when a Solana Futures ETF may have insufficient cash; and (vi) unfavorable execution prices from rapid selling. Unlike equities, which typically entitle the holder to a continuing stake in a corporation, futures contracts normally specify a certain date for settlement in cash based on the reference asset. The price for SOL futures contracts is based on a number of factors, including the supply of and the demand for SOL futures contracts. Market conditions and expectations, regulatory limitations or limitations imposed by the listing exchanges or futures commission merchants (“FCMs”) (e.g., margin requirements, position limits, and accountability levels), collateral requirements, availability of counterparties, and other factors each can impact the supply of and demand for SOL futures contracts. Market conditions and expectations, margin requirements, position limits, accountability levels, collateral requirements, availability of counterparties, and other factors may also limit a Solana Futures ETF’s ability to achieve its desired exposure to SOL futures contracts. Additionally, collateral requirements may require a Solana Futures ETF to liquidate its positions, potentially incurring losses and expenses, when it otherwise would not do so. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">The performance of SOL futures contracts, in general, has historically been highly correlated to the performance of SOL. However, there can be no guarantee this will continue. Transaction costs (including the costs associated with futures investing), position limits, the availability of counterparties and other factors may impact the cost of SOL futures contracts and decrease the correlation between the performance of SOL futures contracts and SOL, over short or even long-term periods. In the event that there are persistent disconnects between SOL and SOL futures, a Solana Futures ETF may not be able to obtain the desired exposure and may not be able to achieve its investment objective, which may adversely impact the Fund’s returns. In addition, the performance of back-month futures contracts is likely to differ more significantly from the performance of the spot prices of SOL. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Solana Spot ETF Risk. Solana Spot ETFs are exchange-traded investment products not registered under the 1940 Act that seek to generally match the performance of the price of SOL, and trade intra-day on a national securities exchange. Shares of Solana Spot ETFs are not traded at net asset value, but may trade at prices above or below the value of their underlying portfolios. The level of risk involved in the purchase or sale of a Solana Spot ETF is similar to the risk involved in the purchase or sale of an exchange traded fund, and generally reflect the risks of owning the underlying SOL and cash that the Solana Spot ETF holds. Solana Spot ETFs are subject to management fees and other fees that may increase their costs versus the costs of owning SOL directly. Solana Spot ETFs generally determine the price of SOL by reference to a benchmark rate or index, and therefore may not the global price of SOL, or the price of SOL on any one digital asset trading platform. In the event the price used by the Solana Spot ETF deviates from the global price of SOL, the Fund’s returns may be adversely affected. <div class="_idGenObjectStyleOverride-1" style="margin:0;padding:0;border-width:0;border-width:0pt;"> <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">SOL Investing Risk. The Fund is exposed to the risks of investing in SOL. These risks include the following: <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• The value of the Shares relates indirectly to the value of SOL, the value of which may be highly volatile and subject to fluctuations due to a number of factors, including: <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ An increase in the global SOL supply; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Manipulative trading activity on platforms that support the trading of SOL (“Digital Asset Trading Platforms”), which, in many cases, are largely unregulated; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ The adoption and use of SOL as a medium of exchange, store-of-value or other consumptive asset and the maintenance and development of the open-source software protocol of the Solana network; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Forks or protocol-level changes in the Solana network; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Investors’ expectations with respect to interest rates inflation trends, macroeconomic conditions, or SOL, and digital asset trading platform rates; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Consumer preferences and perceptions of SOL specifically and digital assets generally; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Fiat currency withdrawal and deposit policies on Digital Asset Trading Platforms; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Investment and trading activities of large investors that invest directly or indirectly in SOL; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ A “short squeeze” resulting from speculation on the price of SOL, if aggregate short exposure exceeds the number of Shares available for purchase; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ An active derivatives or futures market for SOL or for digital assets generally; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ A determination that SOL is a security, or offered or sold as part of an investment contract, or changes in SOL’s status under the federal securities laws; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Monetary policies of governments, trade restrictions, currency devaluations or revaluations and regulatory measures or enforcement actions, if any, that restrict the use or trading of SOL as a form of payment or the purchase of SOL on the Digital Asset Markets; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Global or regional political, economic or financial conditions, events and situations, such as geopolitical conflicts or pandemics; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Fees associated with processing a SOL transaction and the speed at which transactions are settled on the Solana network; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Interruptions in service, outages or closures or failures of major Digital Asset Trading Platforms; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Decreased confidence in Digital Asset Trading Platforms due to the unregulated nature and lack of transparency surrounding the operations of Digital Asset Trading Platforms; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Increased competition from other forms of digital assets or payment services; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Uncertainty in U.S. and global regulations, including potential enforcement actions by the SEC, CFTC, or foreign regulators, could adversely affect the trading, usage, or value of SOL; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Bugs, implementation errors, or failures during Solana network upgrades or validator client changes could disrupt network operations and negatively impact SOL’s value; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ A significant concentration of staked SOL in a small number of liquid staking protocols or validators could heighten centralization risks and reduce network resilience; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Reduced developer activity, declining adoption of Solana-based applications, or loss of user engagement could decrease demand for SOL and harm its market price; <p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ Security breaches, exploits, or bugs in Solana-based smart contracts, DeFi platforms, or NFT marketplaces could undermine confidence in the Solana ecosystem and depress SOL’s value; and </div><p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:2;list-style-position:outside;list-style-type:none;margin-left:72pt;text-indent:-24pt;margin-top:9pt;">○ The implementation of punitive measures such as validator slashing, or operational issues involving custodians, could result in losses or reduced value of staked SOL. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• Staking SOL involves additional risks. The Solana network operates on a proof-of-stake consensus mechanism, which allows holders of SOL to “stake” their tokens by delegating them to validators to secure the network and earn staking rewards. Staking exposes holders to several additional risks. To the extent that a Solana ETP, or the issuer or custodian thereof, engages in staking of SOL held by the ETP, the Fund will be indirectly exposed to the risks associated with staking. Validators or staking service providers may fail to perform validation services properly or may engage in dishonest or negligent behavior, resulting in “slashing” penalties or loss of staked SOL. Technical failures, cyberattacks, or software bugs could also lead to partial or total loss of staked assets or rewards. In addition, staked SOL may be subject to unbonding or lock-up periods during which the tokens cannot be transferred, sold, or otherwise accessed, which could limit liquidity and exacerbate losses during market declines. Certain staking arrangements, particularly those involving liquid staking protocols, introduce additional counterparty and smart contract risks. The failure of a liquid staking token to maintain parity with SOL, or governance or operational issues in a liquid staking protocol, could further negatively impact the value of SOL. The regulatory treatment of staking activity remains uncertain and evolving; any future regulatory developments could adversely affect the ability of Solana ETPs to engage in staking or the value of SOL generally. Finally, the use of staking may introduce operational, cybersecurity, or counterparty risks, particularly if third parties perform staking functions on behalf of the ETP or its custodian. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• The trading prices of SOL have experienced extreme volatility in recent periods and may continue to do so. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• SOL was introduced in 2020, and its value is subject to a number of factors relating to the capabilities and development of blockchain technologies and to the fundamental investment characteristics of digital assets. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• SOL is a new digital asset, and the value of the Shares depends on the continued acceptance of SOL by users, validators and market participants. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• The Solana Protocol was only conceived in 2017 and the Solana Protocol or its Proof-of-History timestamping mechanism may not function as intended, which could have an adverse impact on the value of SOL and an investment in the Shares. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• Smart contracts are a new technology and ongoing development may magnify initial problems, cause volatility on the networks that use smart contracts and reduce interest in them, which could have an adverse impact on the value of SOL. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• Changes in the governance of the Solana network may not receive sufficient support from users and validators, which may negatively affect that digital asset network’s ability to grow and respond to challenges. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• The Solana network may face significant scaling challenges and efforts to increase the volume and throughput or speed of transactions may not be successful. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• Digital asset networks are developed by a diverse set of contributors and the perception that certain high-profile contributors will no longer contribute to the network could have an adverse effect on the market price of the related digital asset. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• SOL may have concentrated ownership and large sales or distributions by holders of SOL, or any ability to participate in or otherwise influence the Solana network, could have an adverse effect on the market price of SOL. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• If SOL’s staking rewards or transaction fees for recording transactions on the Solana network are not sufficiently high to incentivize validators, or if certain jurisdictions continue to limit, restrict or otherwise regulate validating activities, validators may cease expanding validating power or demand high transaction fees, which could negatively impact the value of SOL and the value of the Shares. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• If a malicious actor or botnet obtains control of more than 50% of the validating power on the Solana network, or otherwise obtains control over the Solana network through its influence over core developers or otherwise, such actor or botnet could manipulate the Blockchain to adversely affect the value of the Shares or the ability of the Trust to operate. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• A temporary or permanent “fork” or a “clone” could adversely affect the value of the Shares. <p class="BL_m1" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:2;margin-top:9pt;">• If the Solana network is used to facilitate illicit activities, businesses that facilitate transactions in SOL could be at increased risk of criminal or civil lawsuits, or of having services cut off, which could negatively affect the price of SOL and the value of the Shares. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Risks Related to the Regulation of SOL. Any final determination by a court that SOL or any other digital asset is a “security” may adversely affect the value of SOL. Depending on its characteristics, a digital asset may be considered a “security” under the federal securities laws. The test for determining whether a particular digital asset is a “security” is complex and difficult to apply, and the outcome is difficult to predict. Public, though non-binding, statements by senior officials at the SEC have indicated that the SEC did not consider Bitcoin or <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Ethereum to be securities, and does not currently consider Bitcoin to be a security. The SEC staff has also provided informal assurances via no-action letter to a handful of promoters that their digital assets are not securities. On the other hand, the SEC has brought enforcement actions against the issuers and promoters of several other digital assets on the basis that the digital assets in question are securities. More recently, the SEC has also brought enforcement actions against various digital asset trading platforms for allegedly operating unregistered securities exchanges on the basis that certain of the digital assets traded on their platforms are securities. For example, in June 2023, the SEC brought a complaint against Coinbase (the “Coinbase Complaint”) alleging violations of a variety of securities laws. In its complaints, the SEC asserted that SOL is a security under the federal securities laws. In February 2025, the SEC withdrew the Coinbase Complaint. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Whether a digital asset is a security under the federal securities laws depends on whether it is included in the lists of instruments making up the definition of “security” in the Securities Act of 1933, the Securities Exchange Act of 1934 and the 1940 Act. Digital assets as such do not appear in any of these lists, although each list includes the terms “investment contract” and “note,” and the SEC has typically analyzed whether a particular digital asset is a security by reference to whether it meets the tests developed by the federal courts interpreting these terms, known as the Howey and Reves tests, respectively. For many digital assets, whether or not the Howey or Reves tests are met is difficult to resolve definitively, and substantial legal arguments can often be made both in favor of and against a particular digital asset qualifying as a security under one or both tests. Adding to the complexity, the SEC staff has indicated that the security status of a particular digital asset can change over time as the relevant facts evolve. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">As part of determining whether SOL is a security for purposes of the federal securities laws, Amplify ETF Trust (the “Trust”) takes into account a number of factors, including the various definitions of “security” under the federal securities laws and federal court decisions interpreting elements of these definitions, such as the U.S. Supreme Court’s decisions in the Howey and Reves cases, as well as reports, orders, press releases, public statements and speeches by the SEC, its commissioners and its staff providing guidance on when a digital asset may be a security for purposes of the federal securities laws. If an appropriate court determines that SOL is a security, the Adviser would not intend to permit the Fund to continue holding its investments in a way that would violate the federal securities laws (and therefore, if necessary, would either dissolve the Fund or potentially seek to operate the Fund in a manner that complies with the federal securities laws). <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Ongoing and future regulatory actions with respect to digital assets generally or SOL in particular may alter, perhaps to a materially adverse extent, the nature of an investment in the shares of a Solana ETP or the ability of the Solana ETPs to continue to operate. In addition, recent regulatory rulemaking relating to digital assets, including SOL, has created uncertainty regarding how such rules will be implemented and whether additional rulemaking will occur, which may materially affect the operation and value of a Solana ETP. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Counterparty Risk. Counterparty risk is the risk an issuer, guarantor or counterparty of a security held by the Fund is unable or unwilling to meet its obligation on the security. Counterparty risk may arise because of the counterparty’s financial condition, market activities, or for other reasons. A counterparty’s inability to fulfill its obligation may result in financial losses to the Fund, which could be significant. The Fund may be unable to recover its investment from the counterparty or may obtain a limited and/or delayed recovery. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Cyber Security Risk. The Fund is susceptible to operational risks through breaches in cyber security. A breach in cyber security refers to both intentional and unintentional events that may cause the Fund to lose proprietary information, suffer data corruption or lose operational capacity. Such events could cause the Fund to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss. Cyber security breaches may involve unauthorized access to the Fund’s digital information systems through “hacking” or malicious software coding, and may also result from outside attacks such as denial-of-service attacks through efforts to make network services unavailable to intended users. In addition, cyber security breaches of the Fund’s third-party service providers, such as its administrator, transfer agent, custodian, or a sub-adviser, as applicable, or issuers in which the Fund invests, can also subject the Fund to many of the same risks associated with direct cyber security breaches. While the Fund has established business continuity plans and risk management systems designed to reduce the risks associated with cyber security, there are inherent limitations in such plans and systems. Additionally, there is no guarantee that such efforts will succeed, especially because the Fund does not directly control the cyber security systems of issuers or third-party service providers. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Distribution Tax Risk. The Fund currently expects to make distributions on a monthly basis, a portion of which may be considered return of capital. While the Fund will normally pay its income as distributions, the Fund’s distributions may exceed the Fund’s income and gains for the Fund’s taxable year. The Fund may be required to reduce its distributions if it has insufficient cash flow. Distributions in excess of the Fund’s current and accumulated earnings and profits will be treated as a return of capital. Distributions not in excess of the Fund’s earnings and profits, will be taxable to Fund shareholders and will not constitute nontaxable returns of capital. A return of capital distribution generally will not be taxable currently but will reduce the shareholder’s cost basis and will result in a higher capital gain or lower capital loss when those Fund shares on which the distribution was received are sold. Once a Fund shareholder’s cost basis is reduced to zero, further distributions will be treated as capital gain, if the Fund shareholder holds shares of the Fund as capital assets. Because the Fund’s distributions may consist of return of capital, the Fund may not be an appropriate investment for investors who do not want their principal investment in the Fund to decrease over time or who do not wish to receive return of capital in a given period. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Inflation Risk. Inflation may reduce the intrinsic value of increases in the value of the Fund. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Interest Rate Risk. Interest rate risk is the risk that the value of the debt securities in the Fund’s portfolio will decline because of rising market interest rates. Interest rate risk is generally lower for shorter term debt securities and higher for longer-term debt securities. Duration is a reasonably accurate measure of a debt security’s price sensitivity to changes in interest rates and a common measure of interest rate risk. Duration measures a debt security’s expected life on a present value basis, taking into account the debt security’s yield, interest payments and final maturity. In general, duration represents the expected percentage change in the value of a security for an immediate 1% change in interest rates. For example, the price of a debt security with a three-year duration would be expected to drop by approximately 3% in response to a 1% increase in interest rates. Therefore, prices of debt securities with shorter durations tend to be less sensitive to interest rate changes than debt securities with longer durations. As the value of a debt security changes over time, so will its duration. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Management Risk. The Fund is subject to management risk because it is an actively managed. In managing the Fund’s portfolio, the Sub-Advisers will apply investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these will produce the desired results. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Market Risk. Market risk is the risk that a particular security owned by the Fund or the Shares in general may fall in value, including the possible loss of the entire principal amount that you invest. Securities are subject to market fluctuations caused by such factors as economic, political, regulatory or market developments, changes in interest rates and perceived trends in securities prices, and changes in investors’ perceptions of the financial condition of an issuer or the general condition of the relevant stock market, such as the current market volatility. Overall security values could decline generally or could underperform other investments. In addition, local, regional or global events such as war, acts of terrorism, spread of infectious diseases or other public health issues, recessions, or other events could have a significant negative impact on the Fund and its investments. Such events may affect certain regions, sectors and industries more significantly than others. Such events could result in disruptions to trading markets and could also adversely affect the prices and liquidity of the Fund’s holdings. Any of such circumstances could materially negatively impact the value of Shares and result in increased market volatility. During any such events, Shares may trade at a greater premium or discount to its NAV. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">New Fund Risk. The Fund is new and currently has fewer assets than larger funds, and like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time. This impact may be positive or negative, depending on the direction of market movement during the period affected. Additionally, because the Fund has fewer assets than larger funds over which to spread its fixed costs, its expense levels on a percentage basis will be higher than that of a larger Fund. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Non-Diversification Risk. Because the Fund is classified as a “non-diversified company” it can invest a greater portion of its assets in securities of individual issuers than a “diversified company” and therefore changes in the market value of a single investment could cause greater fluctuations in Share price of the Fund than would occur in a diversified fund. This may increase the Fund’s volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund’s performance. Because the Fund is classified as a “non-diversified company” it can invest a greater portion of its assets in securities of individual issuers than a “diversified company” and therefore changes in the market value of a single investment could cause greater fluctuations in Share price of the Fund than would occur in a diversified fund. This may increase the Fund’s volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund’s performance. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Option Contracts Risk. The use of option contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of option contracts are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, changes in interest or currency exchange rates, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events. There may at times be an imperfect correlation between the movement in values option contracts and the reference asset of the option contract, and there may at times not be a liquid secondary market for certain option contracts. The Fund enters into option contracts in accordance with Rule 18f-4 promulgated under the 1940 Act (“Rule 18f-4”). Rule 18f-4 requires a fund to implement certain policies and procedures designed to manage its derivatives risks, dependent upon a fund’s level of exposure to derivative instruments. To the extent the Fund is noncompliant with Rule 18f-4, the Fund may be required to adjust its investment portfolio which may, in turn, negatively impact its implementation of its investment strategies. Further, when selling put options, the Fund receives a premium, but also assumes the obligation to buy the underlying asset at the strike price if the buyer exercises the option. Therefore, the Fund assumes the risk of loss should the market value of the underlying security decline below the exercise price of the option as the Fund would have to buy the asset at a higher price than the market value (any loss being decreased by the receipt of the premium on the option written). <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">Call Option Strategy Risk. The Fund will employ its call option strategy by writing call options on the Solana ETPs. The risk associated with a covered call option strategy is the risk that the Fund will forgo, during the option contract’s life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the strike price of the call, but has retained the risk of loss of the underlying security should the price of the underlying security decline. In addition, as the Fund sells (writes) call option contracts over a greater portion of its portfolio, its ability to benefit from the potential for capital appreciation of the Solana ETP becomes more limited. The writer of an option contract has no control over the time when it may be required to fulfill its obligation as a writer of the option. Once an option writer has received an exercise notice, it cannot affect a closing purchase transaction in order to terminate its obligation under the option and must deliver the underlying security at the exercise price in the case of physically settled options, or the cash value thereof in the case of cash-settled options.<p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">The covered call strategy utilized by the Fund is “synthetic” because the Fund’s exposure to the price return of the Solana ETPs may be derived through options exposure, rather than direct holdings of the shares of the Solana ETPs. Because such exposure is synthetic, it is possible that the Fund’s participation in the price return of the Solana ETPs may not be as precise as if the Fund were directly holding shares of the Solana ETPs. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">Target Option Premium Risk. The Fund will vary its option selling each week to a level sufficient to generate 36% annualized option premium — the “Target Option Premium.” This Target Option Premium is calculated based upon the NAV of the Fund at the time the weekly option contracts are entered into and assumes the NAV will remain constant over a one-year period. The Fund’s NAV is expected to fluctuate over time due to market conditions and other factors. Accordingly, the actual option premium received by the Fund over the course of any year may be greater or less than the Target Option Premium. In addition to changes in the Fund’s NAV, the amount of option premium the Fund is able to generate over time is also influenced by market volatility. Volatility in the SOL price and, in turn, the Fund’s NAV may also result in annualized option premium income that is less than the Target Option Income for a one-year period. The compounding of option premium income written on lower levels of the Fund’s NAV during a one-year period may cause the Fund to provide a lower option premium income than the Target Option Income, even if the Fund’s NAV ultimately rises above the initial Fund’s NAV at the beginning of the period. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">FLEX Options Risk. The Fund will utilize FLEX Options issued and guaranteed for settlement by the OCC. The Fund bears the risk that the OCC will be unable or unwilling to perform its obligations under the FLEX Options contracts. In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the Fund could suffer significant losses. Additionally, FLEX Options may be less liquid than certain other securities, such as standardized options. In less liquid markets for the FLEX Options, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices. In connection with the creation and redemption of Shares, to the extent market participants are not willing or able to enter into FLEX Option transactions with the Fund at prices that reflect the market price of the Shares, the Fund’s NAV and, in turn the share price of the Fund, could be negatively impacted. The FLEX Options utilized by the Fund are exercisable at the strike price on their expiration date. As a FLEX Option approaches its expiration date, its value typically increasingly moves with the value of the Solana ETP. However, prior to such date, the value of the FLEX Options does not increase or decrease at the same rate as the Solana ETP’s share price on a day-to-day basis (although they generally move in the same direction). The value of the FLEX Options held by the Fund will be determined based on market quotations or other recognized pricing methods. The value of the underlying FLEX Options will be affected by, among others, changes in the Solana ETP’s share price, changes in interest rates, changes in the actual and implied volatility of the Solana ETP and the remaining time to until the FLEX Options expire. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Risks Associated with ETFs. The Fund is an ETF, and therefore, as a result of an ETF’s structure, is subject to the following risks: <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">Authorized Participant Concentration Risk. Only an authorized participant may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of institutions that act as authorized participants on an agency basis (i.e., on behalf of other market participants). To the extent that these institutions exit the business or are unable to proceed with orders for issuance or redemption of Creation Units and no other authorized participant is able to step forward to fulfill the order, in either of these cases, Shares may trade at a discount to the Fund’s NAV and possibly face delisting. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">Costs of Buying or Selling Shares Risk. Investors buying or selling Shares in the secondary market will pay brokerage commissions or other charges imposed by brokers as determined by that broker. Brokerage commissions are often a fixed amount and may be a significant proportional cost for investors seeking to buy or sell relatively small amounts of shares. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">Market Maker Risk. The Fund faces the risks associated with a potential lack of an active market for the Fund’s Shares due to a limited number of market makers. If the Fund has lower average daily trading volumes, it may rely on a small number of third-party market makers to provide a market for the purchase and sale of Shares. Any trading halt or other problem relating to the trading activity of these market makers could result in a dramatic change in the spread between the Fund’s NAV and the price at which the Shares are trading on the Exchange, which could result in a decrease in value of the Shares. Market makers are under no obligation to make a market in Shares, and authorized participants are not obligated to submit purchase or redemption orders for Creation Units. Decisions by market makers or authorized participants to reduce their role or step away from these activities in times of market stress could inhibit the effectiveness of the arbitrage process in maintaining the relationship between the underlying values of the Fund’s portfolio securities and the Fund’s market price. This reduced effectiveness could result in Shares trading at values below the NAV and also in greater than normal intra-day bid-ask spreads for Shares. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">Market Trading Risks. Shares of the Fund are publicly traded on the Exchange, which may subject shareholders of the Fund to numerous trading risks. First, Shares of the Fund may trade at prices that deviate from its NAV. The market prices of Shares will generally fluctuate in accordance with changes in the NAV of the Fund, but are also dependent upon the relative supply of and demand for Shares on the Exchange. The Fund cannot predict whether Shares will trade below (i.e., a discount), at, or above (i.e., a premium) their NAV. Price differences between the trading price of Shares and the NAV may be due, in large part, to the fact that supply and demand forces at work in the secondary trading market for Shares will be closely related to, but not identical to, the same forces influencing the prices of the holdings of the Fund trading individually or in the aggregate at any point in time. Further, <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">securities (including Shares), are subject to market fluctuations and liquidity constraints that may be caused by such factors as economic, political, or regulatory developments, changes in interest rates, and/or perceived trends in securities prices. Additionally, although the Shares are listed for trading on the Exchange, there can be no assurance that an active trading market for the Shares will develop or be maintained. Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in Shares inadvisable. In addition, trading in Shares on the Exchange is subject to trading halts caused by extraordinary market volatility pursuant to Exchange “circuit breaker” rules. Further, the Fund is required to comply with listing requirements adopted by the Exchange, and there can be no assurance that the requirements of the Exchange necessary to maintain listing of the Fund’s Shares will continue to be met or will remain unchanged. Non-compliance with such requirements may result in the Fund’s Shares being delisted by the Exchange. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-left:24pt;margin-top:9pt;">Operational Risk. The Fund is exposed to operational risks arising from a number of factors, including, but not limited to, human error, processing and communication errors, errors of the Fund’s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. The Fund relies on third-parties to provide a range of services relating to its operations. Any delay or failure relating to engaging or maintaining such service providers may affect the Fund’s ability to meet its investment objective. The Fund and Adviser seek to reduce these operational risks through controls and procedures. However, these measures do not address every possible risk and may be inadequate to address these risks. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Subsidiary Investment Risk. Changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary are organized, respectively, could result in the inability of the Fund to operate as intended and could negatively affect the Fund and its shareholders. The Subsidiary is not registered under the 1940 Act and is not subject to all the investor protections of the 1940 Act. However, as the Subsidiary is wholly-owned by the Fund, and the investors of the Fund will have the investor protections of the 1940 Act, the Fund as a whole — including the Subsidiary — will provide investors with 1940 Act protections. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Tax Risk. The Fund intends to qualify as a regulated investment company (“RIC”), however, the federal income tax treatment of certain aspects of the proposed operations of the Fund are not entirely clear. This includes the tax aspects of the Fund’s options strategy and various loss limitation provisions of the Internal Revenue Code of 1986 (the “Code”). If, in any year, the Fund fails to qualify as a RIC under the applicable tax laws, the Fund would be taxed as an ordinary corporation. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">The Fund intends to treat the income it derives from gains on investments in options referencing Solana Futures ETFs as “qualifying income” for purposes of the RIC qualification rules under Subchapter M of the Code. If the IRS were to successfully assert that the Fund’s income from such investments was not “qualifying income,” the Fund may fail to qualify as a RIC under Subchapter M if more than 10% of its gross income is derived from these investments. If the Fund fails to qualify as a RIC, the Fund would be subject to federal and state income tax on all of its taxable income at regular corporate tax rates with no deduction for distributions paid to shareholders, which would significantly adversely affect the returns to, and could cause substantial losses for, Fund shareholders. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">The Fund intends to treat any income it may derive from the Solana ETPs received by the Subsidiary as “qualifying income” under the provisions of the Internal Revenue Code of 1986, as amended, applicable to RICs. The IRS had issued numerous PLRs provided to third parties not associated with the Fund or its affiliates (which only those parties may rely on as precedent) concluding that similar arrangements resulted in qualifying income. Many of such PLRs have now been revoked by the Internal Revenue Service. In March of 2019, the Internal Revenue Service published Regulations that concluded that income from a corporation similar to the Subsidiary would be qualifying income, if the income is related to the Fund’s business of investing in stocks or securities. Although the Regulations do not require distributions from the Subsidiary, the Fund intends to cause the Subsidiary to make distributions that would allow the Fund to make timely distributions to its shareholders. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">To maintain its status as a RIC, the Fund must distribute 90% of its investment company taxable income annually. In addition, to avoid a non-deductible excise tax, the Fund must distribute 98% of its ordinary income and 98.2% of its capital gain net income. Separately, depending upon the circumstances, sales to fund redemptions could cause the Fund to recognize income that the Fund is required to distribute to maintain the Fund’s RIC status and avoid the excise tax. Funding such distributions could require additional sales, which could require more distributions and affect the projected performance of the Fund. Alternatively, if the Fund only makes distributions to maintain its RIC status and becomes subject to the excise tax, that could also affect the projected performance of the Fund. In either case, the assets sold to fund redemptions, distributions or pay the excise tax will not be available to assist the Fund in meeting its investment objective. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">In the event that a shareholder purchases shares of the Fund shortly before a distribution by the Fund, the entire distribution may be taxable to the shareholder even though a portion of the distribution effectively represents a return of the purchase price. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">U.S. Treasury Securities Risk. U.S. Treasury securities may differ from other securities in their interest rates, maturities, times of issuance and other characteristics and may provide relatively lower returns than those of other securities. U.S. government securities are guaranteed only as to the timely payment of interest and the payment of principal when held to maturity. Similar to other issuers, changes to the financial condition or credit rating of the U.S. government may cause the value of the Fund’s U.S. Treasury securities to decline. <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">Valuation Risk. The Fund is subject to the risk of valuation discrepancies for its securities between its valuation of a security and that in the marketplace. Additionally, the value of securities in the Fund’s portfolio may change on days that shareholders are not able to purchase or sell Shares. Further, during periods of reduced market liquidity or in the absence of readily available market quotations for the holdings of the Fund, the valuation of the Fund’s investments will become more difficult. In market environments where there is reduced availability of reliable objective pricing data, the judgment of the Fund’s investment adviser in determining the fair value of the security may play a greater role. While such determinations may be made in good faith, it may nevertheless be more difficult for the Fund to accurately assign a daily value. PERFORMANCE <p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Minion Pro, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:9pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:2;margin-top:9pt;">As of the date of this prospectus, the Fund has not yet commenced operations and therefore does not have a performance history. Once available, the Fund’s performance information will be accessible on the Fund’s website at www.amplifyetfs.com and will provide some indication of the risks of investing in the Fund. As of the date of this prospectus, the Fund has not yet commenced operations and therefore does not have a performance history. www.amplifyetfs.com 485BPOS 0001633061 false 2025-09-30 Estimate based on the expenses the Fund expects to incur for the current fiscal year.