The following table illustrates the movements in the Index Price from August 20, 2024 (the commencement of the Trust’s operations) to December 31, 2025. During such period, the Index Price ranged from $11.36 to $54.44, with the straight average being $25.05 through December 31, 2025. The Sponsor has not observed a material difference between the Index Price, on the one hand, and average prices from the constituent Digital Asset Trading Platforms individually or as a group, on the other. High Low
Last business day
Index Price
Index Price
End of period
Period
Average
Date
Date
August 20, 2024 (the commencement of the Trust’s operations) to December 31, 2024 Twelve months ended December 31, 2025 August 20, 2024 (the commencement of the Trust’s operations) to December 31, 2025
$ 31.96 $ 54.44 12/4/2024 $20.91 9/6/2024 $ 12.47 $ 12.47 $ 22.51 $ 44.28 1/6/2025 $11.36 12/18/2025 $ 12.34 $ 12.34
$ 25.05 $ 54.44 12/4/2024 $11.36 12/18/2025 $ 12.34 $ 12.34 The following table illustrates the movements in the Digital Asset Market price of AVAX, as reported on the Trust’s principal market, from January 1, 2023 to December 31, 2025. During such period, the price of AVAX has ranged from $8.81 to $62.35, with the straight average being $24.37 through December 31, 2025: High Low
Digital Asset Market Price
Digital Asset Market Price
Last business day
End of period
Period
Average
Date
Date
Twelve months ended December 31, 2023 Twelve months ended December 31 2024 Twelve months ended December 31, 2025 January 1, 2023 to December 31, 2025
$ 16.38 $ 47.95 12/24/2023 $ 8.81 9/22/2023 $ 39.46 $ 39.46
$ 34.22 $ 62.35 3/18/2024 $ 19.40 8/5/2024 $ 35.81 $ 35.81
$ 22.50 $ 44.20 1/6/2025 $ 11.35 12/18/2025 $ 12.33 $ 12.33
$ 24.37 $ 62.35 3/18/2024 $ 8.81 9/22/2023 $ 12.33 $ 12.33
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