Company: HBAR
Filing Date: 2025-09-09
Form Type: S-1
Source: 0000950170-25-113803
Chunk: 256

Company: Grayscale Hedera Trust ETF
Filing Date: 2025-09-09
Form: S-1
Chunk 256
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. The Trust shall not incur the cost of that portion of any insurance which insures any party against any liability, the indemnification of which is prohibited by the Trust Agreement. Expenses incurred in defending a threatened or pending civil, administrative or criminal action suit or proceeding against the Sponsor Indemnified Party shall be paid by the Trust in advance of the final disposition of such action, suit or proceeding, if (i) the legal action relates to the performance of duties or services by the Sponsor Indemnified Party on behalf of the Trust; (ii) the legal action is initiated by a third party who is not a shareholder of the Trust or the legal action is initiated by a shareholder of the Trust and a court of competent jurisdiction specifically approves such advance; and (iii) the Sponsor Indemnified Party undertakes to repay the advanced funds with interest to the Trust in cases in which it is not entitled to indemnification under Section 6.7 of the Trust Agreement. In the event the Trust is made a party to any claim, dispute, demand or litigation or otherwise incurs any loss, liability, damage, cost or expense as a result of or in connection with any shareholder of the Trust’s (or assignee’s) obligations or liabilities unrelated to Trust business, such shareholder of the Trust (or assignees cumulatively) shall indemnify, defend, hold harmless, and reimburse the Trust for all such loss, liability, damage, cost and expense incurred, including attorneys’ and accountants’ fees.

<div align='center'>II-1</div>

Item 15. Recent Sales of Unregistered Securities

None.

<div align='center'>II-2</div>

Item 16. Exhibits and Financial Statement Schedules (a) The following exhibits are filed as part of this registration statement:

| Exhibit Number | Description                                                                                                                                                                             |
| 3.1            | Certificate of Trust.                                                                                                                                                                   |
| 4.1*           | Form of Second Amended and Restated Declaration of Trust and Trust Agreement, by and among CSC Delaware Trust Company, as trustee, and Grayscale Investments Sponsors, LLC, as sponsor. |
| 4.2*           | Form of Participant Agreement.                                                                                                                                                          |
| 5.1*           | Opinion of Richards, Layton & Finger, P.A., as special Delaware counsel to the Trust.                                                                                                   |
| 8.1*           | Opinion of Davis Polk & Wardwell LLP, as special tax counsel to the Trust.                                                                                                              |