Company: HBAR
Filing Date: 2025-09-09
Form Type: S-1
Source: 0000950170-25-113803
Chunk: 148

Company: Grayscale Hedera Trust ETF
Filing Date: 2025-09-09
Form: S-1
Chunk 148
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 between the Index Price, on the one hand, and average prices from the constituent Digital Asset Trading Platforms individually or as a group, on the other.

| Period                            |     | Average |      |     | High        
 Index Price |      |     | Date      |     | Low         
 Index Price |      |     | Date      |     | End of period |      |     | Last business day |      |
|:----------------------------------|:----|:--------|-----:|:----|:------------|-----:|:----|:----------|:----|:------------|-----:|:----|:----------|:----|:--------------|-----:|:----|:------------------|-----:|
| Twelve months ended June 30, 2025 |     | $       | 0.16 |     | $           | 0.38 |     | 1/16/2025 |     | $           | 0.04 |     | 11/4/2024 |     | $             | 0.15 |     | $                 | 0.15 |

Forms of Attack Against the Hedera Network All networked systems are vulnerable to various kinds of attacks, including majority-controlled attacks, distributed denial-of-service strikes, botnet attacks, Sybil attacks, and malignant partition firewall coordinated assaults. As with any computer network, the Hedera Network could be subject to certain flaws, which could be exploited by attackers.

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For example, the Hedera Network relies on a staking mechanism similar to PoS to protect the network from malicious actors. However, PoS is susceptible to Sybil attacks in which if an excess of 33% of nodes on the network act maliciously, they can disrupt or halt consensus. And if an excess of 66% of nodes become malicious, consensus can become corrupted. The development of software on and consensus around the Hedera Network could be temporarily or more permanently impacted.

In addition, many digital asset networks have been subjected to a number of denial of service attacks, which has led to temporary delays in transaction recording and in the transfer of digital assets. Any similar attacks on the Hedera Network that impact the ability to transfer HBAR could have a material adverse effect on the price of HBARand the value of the Shares.

Market Participants

Nodes

This sector represents operators of computers connected to the Hedera Network for purposes of maintaining the distributed system. The primary network nodes represent consensus nodes (“Consensus