Vaneck Avalanche Common Shares Of Beneficial Interest ETF

The Trust's investment objective is to reflect the performance of the price of AVAX, and rewards from staking a portion of the Trust's AVAX, to the extent the Sponsor in its sole discretion determines that the Trust may do so without undue legal or regulatory risk, such as, without limitation, by jeopardizing the Trust's ability to qualify as a grantor trust for U.S. federal income tax purposes, less the expenses of the Trust's operations. An investment in the VanEck Avalanche ETF (“VAVX,” or the “Trust”) is subject to significant risk and may not be suitable for all investors. The value of Avalanche (“AVAX”) is highly volatile, and you can lose your entire principal investment. VAVX is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and therefore is not subject to the same protections as mutual funds or ETFs registered under the 1940 Act. Gross Staking Yield represents yield earned by the Fund from staking AVAX and is not a performance measure or yield earned by investors. Staking yields are not guaranteed, may change frequently, and may be zero. After applicable fees and expenses, staking-related activity may not result in a positive return.