ADDED
The Trust incurred $1,378,161 for the year ended December 31, 2025 in Sponsor s fees.
As a result of increasingly interconnected global economies and financial markets, armed conflict between countries or in a geographic region, including related geopolitical tensions or emergency measures, may impact the value of the currencies held by the Fund.
The United States, under the Trump administration, has implemented significant tariff increases on imports from a large number of countries, affecting a broad array of goods, and has signaled that additional tariffs may be imposed.
The potential for further escalation, including the imposition of new or higher tariffs with limited notice, has contributed to increased uncertainty in global markets.
In response, other countries, including China, have announced retaliatory measures.
While some tariff reductions have been implemented pursuant to temporary arrangements between the United States and various trading partners, such measures remain subject to reversal.
These developments have contributed to increased volatility in foreign exchange markets, including fluctuations in the USD/Swiss Franc exchange rate.
Sustained or increased volatility could materially and adversely affect the performance of the Shares.
bank of which it is a branch, which can lead to losses or significant delays in accessing such funds.
Compromises in the software supply chain or incidents at critical third-party vendors could magnify the operational impact of a cyber event and impair the Trust s ability to process Shareholder or Basket transactions.
REMOVED
The Trust incurred $616,855 for the year ended December 31, 2024 in Sponsor s fees.
As a result of increasingly interconnected global economies and financial markets, armed conflict between countries or in a geographic region, for example the current conflicts between Russia and Ukraine in Europe and Hamas and Israel in the Middle East, may impact the value of the currencies held by the Fund.
Pandemics and other public health emergencies could disrupt the global economy and adversely impact the Trust's performance.
The impact of the COVID-19 pandemic was extensive in many aspects of society.
The outbreak resulted in a significant number of deaths, adversely impacted global commercial activity, and led to significant uncertainty and disruptions in the global economy and financial markets.
Many countries reacted by instituting quarantines, prohibitions on travel and the closure of offices, businesses, schools, retail stores and other public venues.
While restrictions have eased, it is possible that they may be reinstated in the future in response to new variants or new public health emergencies.
Such measures, as well as the general uncertainty surrounding the dangers and impact of a future public health crisis, may result in significant disruption in supply chains and economic activity.
Consumer, corporate and financial confidence may be materially adversely affected by a future outbreak.
Such erosion of confidence may lead to or extend to a localized or global economic downturn.