Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (646) 370-6016 or visit our website at www.21Shares-funds.com. Read the prospectus or summary prospectus carefully before investing. An investment in an ARK 21Shares ETF is subject to risks, and you can lose money on your investment in an ARK 21Shares ETF. There can be no assurance that the ARK 21Shares ETFs will achieve their investment objectives. The ARK 21Shares ETFs’ portfolios are more volatile than broad market averages. The ARK 21Shares ETFs also have specific risks, which are described in the ARK 21Shares ETFs' prospectuses. Shares of the ARK 21Shares ETFs may be bought or sold throughout the day at their market price on the exchange on which they are listed. The market price of an ARK 21Shares ETF's shares may be at, above or below the ARK 21Shares ETF’s net asset value ("NAV") and will fluctuate with changes in the NAV as well as supply and demand in the market for the shares. The market price of ARK 21Shares ETF shares may differ significantly from their NAV during periods of market volatility. Shares of the 21Shares ETFs may only be redeemed directly with the ARK 21Shares ETFs at NAV by Authorized Participants in very large creation units. There can be no guarantee that an active trading market for ARK 21Shares ETF shares will develop or be maintained or that their listing will continue or remain unchanged. Buying or selling ARK 21Shares ETF shares on an exchange may require the payment of brokerage commissions, and frequent trading may incur brokerage costs that detract significantly from investment returns. Not FDIC Insured – No Bank Guarantee – May Lose Value All statements made regarding companies, securities or other financial information on this site are strictly beliefs and points of view held by 21Shares US LLC and are subject to change without notice. Certain information on this site was obtained from sources that 21Shares believes to be reliable; however, 21Shares does not guarantee the accuracy or completeness of any information obtained from any third party. The information on this site is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. The information on this site is general in nature and should not be considered legal or tax advice. An investor should consult a financial professional, an attorney, or tax professional regarding the investor’s specific situation. Certain hyperlinks or referenced websites on this site may, for your convenience, forward you to third parties' websites, which generally are recognized by their top level domain name. Any descriptions of, references to, or links to other products, publications or services do not constitute an endorsement, authorization, sponsorship or affiliation with 21Shares with respect to any linked site or its sponsor, unless expressly stated by 21Shares. Any such information, products or sites have not necessarily been reviewed by 21Shares and are provided or maintained by third parties over whom 21Shares exercises no control. 21Shares expressly disclaims any responsibility for the content, the accuracy of the information, and/or the quality of products or services provided by or advertised on these third-party sites. 21Shares reserves the right to terminate any hyperlink or hyperlinking program at any time. Bitcoin, Bitcoin Futures, Ether, and Ether Futures are relatively new investments which have unique and substantial risks and which may be more volatile than other types of investments. The value of an investment in the Fund could decline significantly and without warning, including to zero. You may lose the full value of your investment within a single day. If you are not prepared to accept significant and unexpected changes in the value of the Fund and the possibility that you could lose your entire investment in the Fund you should not invest in the Fund. The performance of Bitcoin Futures and/or Ether Futures may differ from the performance of Bitcoin and Ether, respectively. Bitcoin Futures and Ether Futures Risks. Bitcoin Futures and/or Ether Futures expose the Fund to the following risks: ● Bitcoin, Bitcoin Futures, Ether, and Ether Futures are relatively new assets and Bitcoin, the Bitcoin network, Ether, and the Ethereum network are subject to rapid changes, uncertainty and regulation that may adversely affect the value of the Bitcoin Futures and/or Ether Futures or the nature of an investment in the Fund, and may adversely affect the ability of the Fund to buy and sell Bitcoin Futures and/or Ether Futures or achieve its investment objective. ● Historically, Bitcoin, Bitcoin Futures, Ether, and Ether Futures have been subject to significant price volatility. The price of Bitcoin Futures and Ether Futures may differ significantly from the spot price of Bitcoin and/or Ether and changes in the price of Bitcoin Futures and/or Ether Futures may happen rapidly and without notice. ● The market for Bitcoin Futures and/or Ether Futures is less developed than older, more established futures markets (such as corn or wheat futures) and may be more volatile and less liquid than other futures markets. Although this market has grown since Bitcoin Futures and Ether Futures were initially developed, there is no guarantee that the market will continue to develop in ways that support the continued growth and operation of the Fund. The value of Bitcoin and Ether depends on the development and acceptance of the Bitcoin and/or Ether network, respectively. The slowing or stopping of the development or acceptance of the Bitcoin and/or Ether network may adversely affect an investment in the Fund. New competing digital assets may pose a challenge to Bitcoin and/or Ether’s current market position, resulting in a reduction in demand for Bitcoin and/or Ether, which could have a negative impact on the price of Bitcoin, Bitcoin Futures, Ether, and Ether Futures, and thus a negative impact on the performance of the Fund. Blockchain, Digital Asset, Technology and FinTech Companies Risk. Companies that are developing financial technologies that seek to disrupt or displace established financial institutions generally face competition from much larger and more established firms. Such companies may not be able to capitalize on their disruptive technologies if they face political and/or legal attacks from competitors, industry groups or local and national governments. Liquidity Risk. Liquidity risk is the risk that the Fund might not be able to sell an investment without significantly changing the value of the investment on the Fund’s books. Liquidity risk can be elevated by market disruptions or volatility, and during these periods, it may be difficult or impossible for the Fund to buy or sell an investment, including in Bitcoin Futures and/or Ether Futures, at a desired price. Derivatives Risk. The Fund’s use of derivatives (in the form of Bitcoin Futures and/or Ether Futures) presents risks different than investing directly in traditional securities. Using derivatives can lead to losses because of adverse movements in the price or value of the underlying reference asset, which may be magnified by features of the derivatives. Credit Risk. Bonds are subject to credit risk, which is the possibility that the issuer or guarantor of a security will be unable and/or unwilling to make timely interest payments and/or repay the principal on its debt or to otherwise honor its obligations and/or default completely. Debt securities, including bonds, are also subject to interest rate risk. Interest Rate Risk. Debt securities, including bonds, are also subject to interest rate risk. Interest rate risk refers to fluctuations in the value of a bond resulting from changes in the general level of interest rates. When the general level of interest rates goes up, the prices of most debt securities go down. When the general level of interest rates goes down, the prices of most debt securities go up. Rising interest rates increases the potential for periods of volatility and increased redemptions. New Fund Risk. The Fund is a newly organized, non-diversified management investment company with no operating history. There can be no assurance that the Fund will grow to or maintain an economically viable size, or that an active trading market for the Fund’s shares will develop or be maintained. Distributed by Quasar Distributors, LLC. 21Shares US LLC is the investment adviser to the ARK 21Shares ETFs. 21Shares is not affiliated with Quasar Distributors, LLC. 21Shares is not affiliated with ARK Investment Management LLC. 21Shares is not affiliated with Empowered Funds, LLC dba EA Advisors. As sub-subadviser to the Funds, ARK Invest provides non-discretionary investment advice to 21Shares related to the equity, spot bitcoin and spot ethereum markets. 21Shares may, in its sole discretion, consider the advice provided by ARK when making investment decisions for the Funds to the extent 21Shares deems necessary. © 2023. 21Shares US LLC. No part of this material may be reproduced in any form, or referred to in any other publication, without written permission.

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