TXBC

An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the Fund. You may obtain a prospectus and, if available, a summary prospectus by downloading the prospectus from www.21shares.com or calling (646) 370-6016. Please read the prospectus or summary prospectus carefully before investing. The Fund may not be suitable for all investors.

The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision.

The underlying Crypto Assets are relatively new investments which have unique and substantial risks and which may be more volatile than other types of investments. The value of an investment in the Fund could decline significantly and without warning. The performance of Crypto Assets, and therefore the performance of the Fund, may differ significantly from the performance of the cryptocurrencies. For more information on the specific risks pertaining to each cryptocurrency, please see the prospectus.‍

Crypto assets operate without central authority or banks and are not backed by any government. Crypto assets are often referred to as a “virtual asset” or “digital asset,” and operate as a decentralized, peer-to-peer financial trading platform and value storage that is used like money. A crypto asset is also not a legal tender. The trading prices of many crypto assets, including the Underlying Crypto Assets, have experienced extreme volatility in and may do so in the future including declines in the trading prices of the Underlying Crypto Assets which could have a material adverse effect on the value of the Fund’s shares and the shares could lose all or substantially all of their value. A number of factors affect the price and market for Crypto Assets such as new technology, changes in regulatory environment, and supply and demand.

‍Diversification does not assure a profit or protect against loss.‍

‍There is no guarantee that investment objectives will be achieved or that return expectations will be met.‍

‍Market Capitalization (Market Cap): The total dollar value of all outstanding shares. It is calculated by multiplying the number of shares outstanding by the current market price.

‍Standard Deviation: A measure of volatility, or risk, which is the square root of the variance; a measure of dispersion in the same units as the original data.

‍Median Bid-Ask Spread: The fund's "median bid-ask spread" is calculated by identifying the fund's national best bid and best offer (NBBO) as of the end of each 10 second interval during each trading day of the last 30 calendar days, then dividing the difference between each such bid and offer by the midpoint of the NBBO, and then calculating the median of those values.‍

Average Daily Traded Volume: The average daily traded value (in USD) of a fund's individual holdings.

‍Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. A beta of 1.0 indicates that the security's price will be as volatile as the market. A beta of less than 1.0 means that the security will be less volatile than the market. A beta of greater than 1.0 indicates that the security's price will be more volatile than the market show less

‍An investment in the Fund involves risk, including possible loss of principal.  ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF's net asset value (NAV), and are not individually redeemable directly with the ETF. Brokerage commissions and ETF expenses will reduce returns. ETFs are subject to specific risks, depending on the nature of the underlying strategy of the Fund. These risks could include Crypto Assets Risk, Derivatives Risk, Counterparty Risk, Subsidiary Risk, Exposure Risk, Calculation Methodology Risk, Clearing Broker Risk, Collateral Securities Risk, Cybersecurity Risk, ETP Risk, Early Close/Trading Halt Risk, Foreign Securities Risk, Intra-Day Investment Risk, Market Risk, Passive Investment Risk, Tax Risk, Tracking Error Risk, Reverse Repurchase Agreements Risk, Valuation Risk, Volatility Risk, Whipsaw Markets Risk, and Crypto-Related Investments Tax Risk.  For a complete description of the Fund’s principal investment risks, please refer to the prospectus.

‍Shares of the Funds Are Not FDIC Insured, May Lose Value, and Have No Bank Guarantee.‍

London Stock Exchange Group companies include FTSE International Limited (“FTSE”), Frank Russell Company (“Russell”), MTS Next Limited (“MTS”), and FTSE TMX Global Debt Capital Markets Inc. (“FTSE TMX”). All rights reserved. “FTSE®”, “Russell®”, “MTS®”, “FTSE TMX®” and “FTSE Russell” and other service marks and trademarks related to the FTSE or Russell indexes are trademarks of the London Stock Exchange Group companies and are used by FTSE, MTS, FTSE TMX and Russell under license. All information is provided for information purposes only. No responsibility or liability can be accepted by the London Stock Exchange Group companies nor its licensors for any errors or for any loss from use of this publication. Neither the London Stock Exchange Group companies nor any of its licensors make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the FTSE Indexes or the fitness or suitability of the Indexes for any particular purpose to which they might be put. 

PINE Distributors LLC is the distributor for the 21shares FTSE Crypto 10 ex-BTC Index ETF. Teucrium Investment Advisors, LLC serves as the investment adviser and 21shares US LLC serves as the Subadviser to the 21shares FTSE Crypto 10 ex-BTC Index ETF. PINE Distributors LLC is not affiliated with Teucrium Investment Advisors, LLC or 21shares US LLC.

Learn more about PINE Distributors LLC at FINRA's BrokerCheck.

The Fund is non-diversified and the value of the Index is heavily weighted in Ethereum, XRP, and Solana Coin. As a result, the Fund’s performance may be disproportionately and significantly impacted by the poor performance of such Underlying Crypto Asset(s) or events materially affecting the ecosystem of such Underlying Crypto Asset(s). The Fund’s significant exposure to one or more Underlying Crypto Assets makes it more susceptible to any single occurrence affecting such Underlying Crypto Asset(s) and related ETPs and crypto-related investments and may subject the Fund to greater market risk than more diversified funds.

There is no assurance that the Index Provider, or any agents that act on its behalf, will compile the Index accurately, or that the Index will be determined, maintained, constructed, reconstituted, rebalanced, composed, calculated or disseminated accurately.

The Fund may hold illiquid securities that it may be unable to sell at the preferred time or price and could lose its entire investment in such securities.

TCRM-5354207-04/26