Grayscale Operating, LLC (“GSO” d/b/a Grayscale Investments) is the parent holding company of Grayscale Advisors, LLC (“GSA”), an SEC-registered investment adviser, as well Grayscale Securities, LLC (“GSS”), an SEC-registered broker/dealer and member of FINRA, and Grayscale Investments Sponsors, LLC ("GSIS", together with GSO, GSS, and GSA, "Grayscale" or “Grayscale Investments”). GSIS is not registered as an investment adviser under the Investment Advisers Act of 1940 and none of the investment products (“Products”) sponsored or managed by GSIS are registered under the Investment Company Act of 1940.

Investments in the products on this page are speculative investments that involve high degrees of risk, including a partial or total loss of invested funds. The products mentioned on this page are not suitable for any investor that cannot afford loss of the entire investment. Private placement securities are speculative, illiquid, and entail a high level of risk, including the risk that an investor could lose their entire investment. The Products are distributed by Grayscale Securities, LLC (Member FINRA/SIPC). SIPC coverage does not apply to the crypto asset products or services mentioned.

Grayscale CoinDesk Crypto 5 ETF, Grayscale Bitcoin Mini Trust ETF and Grayscale Ethereum Mini Trust ETF (collectively the "Funds") have filed registration statements (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectuses in those registration statements and other documents the Funds have filed with the SEC for more complete information about the Funds and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Funds or any authorized participant will arrange to send you the prospectus (when available) if you request it by calling (833)903-2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101.

Foreside Fund Services, LLC is the Marketing Agent and GSIS is the sponsor of the Funds.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing in Grayscale Bitcoin Miners ETF, Grayscale Bitcoin Covered Calls ETF, and Grayscale Bitcoin Premium Income ETF (collectively the "Funds"). For prospectuses or summary prospectuses with this and other information about the Funds, please call (866)-775-0313 or visit our website at grayscale.com. Read the prospectuses or summary prospectuses carefully before investing. Foreside Fund Services, LLC is the distributor and GSA is the sponsor of the Funds.

Investments managed by GSA are registered under the Investment Company Act of 1940 and subject to the rules and regulations of the Securities Act of 1933 and Investment Advisers Act of 1940. Carefully consider investment objectives, risk factors, fees and expenses before investing.

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.

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