| Investment Objective: |
The Trust's primary investment objective is to seek to provide exposure to the value of Hyperliquid held by the Trust, less the expenses of the Trust's operations. The Trust's secondary investment objective is to seek to derive additional Hyperliquid through staking. The Trust will stake a portion of its Hyperliquid with the Hyperliquid Custodian. As consideration for participating in staking activities, the Trust will receive a portion of the reward generated from such participation in the form of additional Hyperliquid, which may be treated as income to the Trust. The additional Hyperliquid generated by the Trust's staking program will be subject to fees shared among the Staking Agent(s) and the Sponsor. The amounts owed or paid to the Staking Agent(s) and the Sponsor are collectively referred to as the "Staking Expenses". The Staking Expenses will equal 25% of the amount of the additional Hyperliquid generated by the staking of the Trust's Hyperliquid. The Trust will ultimately receive approximately 75% of the Hyperliquid generated by its staking activities. |
