CoinShares Altcoins ETF
Schedule of Investments
June 30, 2026 (Unaudited)

EXCHANGE TRADED FUNDS - 98.4%

Shares

Value
21Shares Aptos Staking ETP (a)

            42,849

    $        37,051
21Shares Binance BNB ETP (a)

            2,398

             86,580
21Shares Gram Staking ETP (a)

            6,409

             38,755
21Shares NEAR Protocol Staking ETP (a)

            7,274

             38,097
21Shares Sui Staking ETP (a)

            1,982

             38,998
Bitwise Aptos Staking ETP (a)

            83,899

             50,465
Bitwise Avalanche Staking ETP (a)

            14,689

             47,520
Bitwise Hyperliquid Staking ETP (a)

            1,228

             39,901
Bitwise NEAR Staking ETP (a)

            5,642

             51,669
Bitwise Physical Cardano ETP (a)

            62,542

             41,129
Bitwise Solana Staking ETP (a)

            11,261

             43,614
CoinShares Cardano Staking ETP (a)(b)

            310,662

             49,299
CoinShares Cosmos Staking ETP (a)(b)

            92,726

             86,126
CoinShares Hyperliquid Staking ETP (a)(b)

            12,827

             54,167
CoinShares Polkadot Staking ETP (a)(b)

            47,885

             48,038
CoinShares Sei Staking ETP (a)(b)

            167,817

             82,482
CoinShares Solana Staking ETP (a)(b)

            6,153

             51,673
CoinShares Toncoin Staking ETP (a)(b)

            65,033

             53,197
VanEck Avalanche ETN (a)

            70,952

             47,375
VanEck Polkadot ETN (a)

            162,242

             40,233
VanEck Sui ETN (a)

            17,530

             51,573
TOTAL EXCHANGE TRADED FUNDS (Cost $1,367,465)

             1,077,942






SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 1.0%
Shares

Value
First American Government Obligations Fund - Class X, 3.58% (c)

            11,264

             11,264
TOTAL MONEY MARKET FUNDS (Cost $11,264)

             11,264






TOTAL INVESTMENTS - 99.4% (Cost $1,378,729)

             1,089,206
Other Assets in Excess of Liabilities - 0.6%
0.00631
            6,912
TOTAL NET ASSETS - 100.0%




    $        1,096,118


Percentages are stated as a percent of net assets.







(a)

Non-income producing security.
(b)

Affiliated security as defined by the Investment Company Act of 1940.
(c)

The rate shown represents the 7-day annualized yield as of June 30, 2026.












Summary of Fair Value Disclosure as of June 30, 2026 (Unaudited)
 
CoinShares Altcoins ETF has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of June 30, 2026:



Level 1

Level 2

Level 3

Total
Investments:







  Exchange Traded Funds
    $        1,077,942

    $        –

    $        –

    $        1,077,942
  Money Market Funds
            11,264

            –

            –

            11,264
Total Investments
    $        1,089,206

    $        –

    $        –

    $        1,089,206




 

Refer to the Schedule of Investments for further disaggregation of investment categories.




CoinShares Altcoins ETF - Transactions with Affiliates




Value as of October 6, 2025 (a)

Additions

Reductions

Realized Gain (Loss)

Net Change in Unrealized Appreciation (Depreciation)

Value as of June 30, 2026

Shares as of June 30, 2026

Dividend / Interest Income

Capital Gain Distributions from Underlying Funds
CoinShares Cardano Staking ETP

    $        –

    $        492,838

    $        (187,097)

    $        (209,425)

    $        (47,017)

    $        49,299

            310,662

    $        –

    $        –
CoinShares Cosmos Staking ETP

             –

             354,814

             (111,367)

             (115,233)

             (42,088)

             86,126

            92,726

             –

             –
CoinShares Hyperliquid Staking ETP

             –

             127,602

             (152,882)

             57,443

             22,004

             54,167

            12,827

             –

             –
CoinShares Polkadot Staking ETP

             –

             488,768

             (203,121)

             (204,938)

             (32,671)

             48,038

            47,885

             –

             –
CoinShares Sei Staking ETP

             –

             371,776

             (38,644)

             (154,707)

             (95,943)

             82,482

            167,817

             –

             –
CoinShares Solana Staking ETP

             –

             525,787

             (271,599)

             (195,946)

             (6,569)

             51,673

            6,153

             –

             –
CoinShares Toncoin Staking ETP

             –

             248,448

             (176,465)

             (31,010)

             12,223

             53,197

            65,033

             –

             –


    $        –

    $        2,610,033

    $        (1,141,175)

    $        (853,816)

    $        (190,061)

    $        424,982

            703,103

    $        –

    $        –




(a)

Inception date of Fund.