“ Co-Transfer Agent ”—Continental Stock Transfer & Trust Company. “ Covered Person ”—The Sponsor and its affiliates. See “Business—Description of the Trust Agreement— The Sponsor—Liability of the Sponsor and Indemnification.” “ Creation Basket ”—Basket of Shares issued by the Trust upon deposit of the Basket Amount required for each such Creation Basket. “ Creation Time ”—With respect to the creation of any Shares by the Trust, the time at which the Trust creates such Shares. “ Custodial and Prime Broker Services ”—The services of the Custodian and the Prime Broker that provide for: (i) holding of the Trust’s AVAX in the Vault Balance and the Settlement Balance; (ii) transfer of the Trust’s AVAX between the relevant Vault Balance and the Settlement Balance; (iii) the deposit of AVAX from a public blockchain address into the respective account or accounts in which the Vault Balance or the Settlement Balance are maintained; and (iv) the withdrawal of AVAX from the Vault Balance to a public blockchain address the Trust controls. “ Custodial Entities ”—The Prime Broker, together with the Custodian. “ Custodian ”—Coinbase Custody Trust Company, LLC. and/or other custodians, collectively or in their individual capacities, as the context may require. “ Custodian Fee ”—Fee payable to the Custodian and the Prime Broker for services they provide to the Trust, which the Sponsor shall pay to the Custodian and the Prime Broker as a Sponsor-paid Expense. “ DCG ”—Digital Currency Group, Inc. “ DCG Holdco ”—DCG Grayscale Holdco, LLC. “ Digital Asset Market ”—A “Brokered Market,” “Dealer Market,” “Principal-to-Principal Market” or “Exchange Market,” as each such term is defined in the Financial Accounting Standards Board Accounting Standards Codification Master Glossary. “ Digital Asset Trading Platform ”—An electronic marketplace where trading platform participants may trade, buy and sell AVAX based on bid-ask trading. The largest Digital Asset Trading Platforms are online and typically trade on a 24-hour basis, publishing transaction price and volume data. “ Digital Asset Trading Platform Market ”—The global exchange market for the trading of AVAX, which consists of transactions on electronic Digital Asset Trading Platforms. “ DSTA ”—The Delaware Statutory Trust Act, as amended. “ DTC ”—The Depository Trust Company. DTC is a limited purpose trust company organized under New York law, a member of the U.S. Federal Reserve System and a clearing agency registered with the SEC. DTC will act as the securities depository for the Shares. “ ERISA ”—The U.S. Employee Retirement Income Security Act of 1974, as amended. “ ETC ” or “ Ethereum Classic ”— Ether Classic tokens, which are a type of digital asset based on an open- source cryptographic protocol existing on the Ethereum Classic Network. “ Ether ”—Ethereum tokens, which are a type of digital asset based on an open source cryptographic protocol existing on the Ethereum Network, comprising units that constitute the assets underlying the Trust’s Shares. “ Ethereum Classic Network ”—The online, end-user-to-end-user network hosting a public transaction ledger, known as the Ethereum Classic blockchain, and the source code comprising the basis for the cryptographic and algorithmic protocols governing the Ethereum Classic network.
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