Crypto Journey

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 Grayscale Products are speculative investments that involve high degrees of risk, including a partial or total loss of invested funds. These Products are not suitable for any investor that cannot afford loss of the entire investment.

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