The following table illustrates the movements in the Digital Asset Market price of AVAX, as reported on the Trust’s principal market, from August 20, 2024 (the commencement of the Trust’s operations) to December 31, 2025. High Low
Digital Asset Market Price
Digital Asset Market Price
Last business day
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 $ 54.16 12/4/2024 $ 20.96 9/6/2024 $ 35.81 $ 35.81
$ 22.50 $ 44.20 1/6/2025 $ 11.35 12/18/2025 $ 12.33 $ 12.33
$ 25.04 $ 54.16 12/4/2024 $ 11.35 12/18/2025 $ 12.33 $ 12.33
Quantitative and Qualitative Disclosures about Market Risk The Trust Agreement does not authorize the Trust to borrow for payment of the Trust’s ordinary expenses. The Trust does not engage in transactions in foreign currencies which could expose the Trust or holders of Shares to any foreign currency related market risk. The Trust does not invest in derivative financial instruments and has no foreign operations or long-term debt instruments.
80
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