Note 8 - Subsequent Events

In preparing these financial statements, management of the Sponsor has evaluated the financial statements for the three and six months ended June 30, 2026 for subsequent events through the date of this filing.

On August 3, 2026, the Sponsor announced that its officers had authorized a plan (the “Plan of Liquidation”) to (i) liquidate the Fund, the sole series of the Trust, (ii) terminate the continuous offering of the Fund’s Shares, and (iii) deregister the Fund’s Shares under Section 12(b) of the Securities Exchange Act of 1934, as amended. The Sponsor determined that the Fund’s aggregate net assets, in relation to the operating expenses of the Fund, made it unreasonable or imprudent to continue the business of the Fund over the long term. On the same date, the Sponsor submitted written notice to the Exchange of its decision to liquidate the Fund and to terminate the offering, and filed a prospectus supplement and a Current Report on Form 8-K describing the Plan of Liquidation.

The Fund will no longer accept orders for the creation of Baskets after August 17, 2026, and trading in the Fund’s Shares on the Exchange will be suspended after the close of business on August 17, 2026. Shareholders may sell their Shares on or before August 17, 2026 and may incur customary brokerage charges. On or about August 18, 2026, the Fund will begin liquidating its portfolio; as a result, the Fund’s cash holdings will increase and the Fund will no longer be managed in accordance with its investment objective. The Fund is expected to distribute the liquidation proceeds in a single cash payment, pro rata to its remaining shareholders of record, on or about August 24, 2026. Following completion of the liquidating distribution, the Fund will terminate and, because the Fund is the sole series of the Trust, the Trust will be dissolved.

In connection with the Plan of Liquidation, the Sponsor intends to file a post-effective amendment to terminate the offering of the Fund’s registered and unsold Shares, and the Exchange will file a Form 25 with the SEC to effect the withdrawal of the listing of the Fund’s Shares from the Exchange. The delisting will become effective 10 days after the filing of the Form 25. The distributions to shareholders will be treated as liquidating distributions for U.S. federal income tax purposes.