This material must be preceded by or accompanied by the most recent prospectus. The most recent prospectus for each fund is: $BTCC: https://t.co/9oT7T9mwOT $BPI: https://t.co/a5gzDMIoEV The Grayscale Bitcoin Covered Call ETF ("BTCC") and the Grayscale Bitcoin Premium Income ETF ("BPI") (collectively, the "Funds") do not invest directly in digital assets. The Funds also do not invest in initial coin offerings (ICOs). However, the Funds will indirectly invest in digital assets through derivatives on exchange-traded instruments that hold digital assets as investments. Because the Funds do not invest directly in any digital asset, they may not track the price movements of any digital asset. BTCC and BPI are distributed by Foreside Fund Services, LLC, and advised by Grayscale Advisors, LLC. Investing involves risk and the possibility of loss of principal. There is no guarantee of success in the investment strategy. The Funds are considered non-diversified. The Fund is actively managed and its performance reflects the investment decisions made by the Adviser for the Fund.