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Grayscale Single and Multi Asset Exchange Traded Products (the "ETPs") are not registered under the Investment Company Act of 1940 (or the ’40 Act) and therefore are not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds. The ETPs are subject to significant risk and an investor may lose all their money. The ETPs are subject to heightened volatility and are not suitable for all investors. An investment in the ETPs is not a direct investment in any cryptocurrencies.
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