Grayscale Avalanche Staking ETF GAVA Strategy

The investment seeks to reflect the value of AVAX held by the Trust, including AVAX earned as Staking Consideration, determined by reference to the index Price, less the Trust’s expenses and other liabilities. While an investment in the Shares is not a direct investment in AVAX, the Shares are designed to provide investors with a cost-effective and convenient way to gain investment exposure to AVAX. A substantial direct investment in AVAX may require expensive and sometimes complicated arrangements in connection with the acquisition, security and safekeeping of the AVAX and may involve the payment of substantial fees.