# EDGAR Filing Document

**Accession Number:** 0001467831
**File Stem:** 0000894189-23-001820
**Filing Date:** 2023-3
**Character Count:** 49898
**Document Hash:** 3f7b2476fdf46f98708111fc90a74764
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-23-001820.hdr.sgml**: 20230303

**ACCESSION NUMBER**: 0000894189-23-001820

**CONFORMED SUBMISSION TYPE**: POS EX

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20230303

**DATE AS OF CHANGE**: 20230303

**EFFECTIVENESS DATE**: 20230303

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ETF Managers Trust
- **CENTRAL INDEX KEY:** 0001467831
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** POS EX
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-182274
- **FILM NUMBER:** 23705116

**BUSINESS ADDRESS:**
- **STREET 1:** 30 MAPLE STREET
- **STREET 2:** SUITE 2
- **CITY:** SUMMIT
- **STATE:** NJ
- **ZIP:** 07901
- **BUSINESS PHONE:** (908) 897-0513

**MAIL ADDRESS:**
- **STREET 1:** 30 MAPLE STREET
- **STREET 2:** SUITE 2
- **CITY:** SUMMIT
- **STATE:** NJ
- **ZIP:** 07901

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FactorShares Trust
- **DATE OF NAME CHANGE:** 20090929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FactorETF Trust
- **DATE OF NAME CHANGE:** 20090707

As filed with the U.S. Securities and Exchange Commission on March 3, 2023

File No. 333-182274

File No.: 811-22310

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-1A**

---

| | |
|:---|:---|
| REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | [X] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Effective Amendment No.  | [ ] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Post-Effective Amendment No. <u>155</u> | [X] |
| and/or |  |
| REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | [X] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendment No. <u>157</u> | [X] |

---

**<u>ETF MANAGERS TRUST</u>**

(Exact Name of Registrant as Specified in Charter)

30 Maple Street, 2nd Floor

Summit, New Jersey 07901

(Address of Principal Executive Offices, Zip Code)

(Registrant's Telephone Number, including Area Code)

(877) 756-7873

Corporation Service Company

2711 Centerville Road, Suite 400

Wilmington, DE 19808

(Name and Address of Agent for Service)

Copy to:

Eric Simanek, Esq

Eversheds Sutherland (US) LLP

700 6th St NW

Washington, DC 20001

This Post-Effective Amendment consists of the following:

1. Facing Sheet of the Registration Statement.

2. Explanatory Note.

3. Part C to the Registration Statement (including signature page) and certain exhibits to the Registration Statement.

**Explanatory Note:** This Post-Effective Amendment is being filed solely for the purpose of filing exhibits to the Registration Statement on Form N-1A. Parts A and B of Post-Effective Amendment No. 154 to the Registration Statement on Form N-1A filed on January 26, 2023 pursuant to Rule 485(b) under the Securities Act of 1933, as amended, are incorporated by reference herein.

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**PART C: OTHER INFORMATION**

**ETF Managers Trust**

**<u>ITEM 28</u>. <u>EXHIBITS</u>**

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| | | | |
|:---|:---|:---|:---|
| (a) | (1) |  | <u>[Certificate of Trust dated June 30, 2009, as filed with the state of Delaware on July 1, 2009, for ETF Managers Trust (the "Trust" or the "Registrant") is incorporated herein by reference to Exhibit (a)(1) to the Registrant's Initial Registration Statement on Form N-1A, as filed with the Securities and Exchange Commission (the "SEC") on June 22, 2012.](http://www.sec.gov/Archives/edgar/data/1467831/000135448812003313/fact_ex99a1.htm)</u> |
|  | (2) |  | <u>[Certificate of Amendment dated May 25, 2016 to the Registrant's Certificate of Trust dated June 30, 2009, as filed with the State of Delaware on May 31, 2016, is incorporated herein by reference to Exhibit (a)(2) to Post-Effective Amendment No. 41 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on August 25, 2016.](http://www.sec.gov/Archives/edgar/data/1467831/000089418916011504/cert-trust_amend.htm)</u> |
|  | (3) |  | <u>[Registrant's Agreement and Declaration of Trust, adopted June 30, 2009, is incorporated herein by reference to Exhibit (a)(3) to Pre-Effective Amendment No. 2 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on November 20, 2012.](http://www.sec.gov/Archives/edgar/data/1467831/000135448812006099/fact_ex99a3.htm)</u> |
|  | (4) |  | <u>[Amendment dated June 20, 2016 to the Registrant's Agreement and Declaration of Trust, adopted June 30, 2009, is incorporated herein by reference to Exhibit (a)(4) to Post-Effective Amendment No. 41 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on August 25, 2016.](http://www.sec.gov/Archives/edgar/data/1467831/000089418916011504/declration-trust_agmt.htm)</u> |
| (b) |  |  | <u>[Registrant's By-Laws, adopted October 1, 2012, are incorporated herein by reference to Exhibit (b) to Pre-Effective Amendment No. 2 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on November 20, 2012.](http://www.sec.gov/Archives/edgar/data/1467831/000135448812006099/fact_ex99b.htm)</u> |
| (c) |  |  | Not applicable. |
| (d) | (1) |  | <u>[Amended and Restated Advisory Agreement dated June 24, 2016 between the Trust and ETF Managers Group LLC is incorporated herein by reference to Exhibit (d)(1) to Post-Effective Amendment No. 41 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on August 25, 2016.](http://www.sec.gov/Archives/edgar/data/1467831/000089418916011504/advisory_agmt.htm)</u> |
|  | (2) |  | <u>[Amendment to the Amended and Restated Advisory Agreement is incorporated herein by reference to Exhibit (d)(2) to Post-Effective Amendment No. 133 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on January 28, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000121390021005017/s130101_ex99-d2.htm)</u> |
|  | (3) |  | <u>[Amended Schedule A to the Amended and Restated Advisory Agreement dated October 15, 2021 is incorporated herein by reference to Exhibit (d)(3) to Post-Effective No. 146 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on October 15, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921007333/exhd3-amendedandrestatedad.htm)</u> |
|  | (4) |  | <u>[Sub-Advisory Agreement between ETF Managers Group LLC and EquBot LLC is incorporated herein by reference to Exhibit (e) to Post-Effective Amendment No. 71 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on September 28, 2017.](http://www.sec.gov/Archives/edgar/data/1467831/000089418917005217/sub-adv_agmt.htm)</u> |
|  | (5) |  | <u>[Sub-Advisory Agreement between ETF Managers Group LLC and Sit Fixed Income Advisors II, LLC is incorporated herein by reference to Exhibit (d) (4) to Post-Effective Amendment No. 111 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on June 24, 2019.](http://www.sec.gov/Archives/edgar/data/1467831/000089418919003777/exd4etfmgsitsub-advisoryag.htm)</u> |
| (e) | (1) |  | <u>[Amended and Restated Distribution Agreement dated December 26, 2017 between the Trust and ETFMG Financial, LLC is incorporated herein by reference to Exhibit (e) to Post-Effective Amendment No. 80 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on December 20, 2017.](http://www.sec.gov/Archives/edgar/data/1467831/000161577417007471/s108492_ex-e.htm)</u> |
|  | (2) |  | <u>[Amendment No. 6 to the Amended and Restated Distribution Agreement dated September 9, 2021 between the Trust and ETFMG Financial, LLC is incorporated herein by reference to Exhibit (e)(2) to Post-Effective Amendment No. 146 to the Registrant's Registration Statement on Form N-A, as filed with the SEC on October 15, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921007333/exhe2-amendmentno6toamende.htm)</u> |
| (f) |  |  | Not applicable. |
| (g) | (1) | (a) | <u>[Amended and Restated Custody Agreement between the Trust and U.S. Bank National Association is incorporated herein by reference to Exhibit (g)(1)(a) to the Post-Effective Amendment to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on June 4, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921003482/exg1aetfmg-arcustodyagreem.htm)</u> |
|  |  | (b) | <u>[Amendment to Amended and Restated Custody Agreement is incorporated herein by reference to Exhibit (g)(1)(b) to the Post-Effective Amendment to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on October 15, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921007333/exhg1b-etfmgtrustxamendmen.htm)</u> |
| (h) | (1) | (a) | <u>[Fund Servicing Agreement between the Trust and U.S. Bancorp Fund Services, LLC is incorporated herein by reference to Exhibit (h)(1)(a) to the Post-Effective Amendment to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on June 4, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921003482/exh1aetfmg-fundservicesagr.htm)</u> |

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| | | | |
|:---|:---|:---|:---|
| | | (b) | <u>[Amendment to Fund Servicing Agreement is incorporated herein by reference to Exhibit (h)(1)(b) to the Post-Effective Amendment to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on October 15, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921007333/exhh1b-etfmgtrustxamendmen.htm)</u> |
| | (2) | | <u>[Form of Sub-License Agreement is incorporated herein by reference to Exhibit (h)(4) to Pre-Effective Amendment No. 2 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on November 20, 2012.](http://www.sec.gov/Archives/edgar/data/1467831/000135448812006099/fact_exh4.htm)</u> |
| | (3) | (a) | <u>[Securities Lending Agreement dated January 8, 2016 between the Trust and U.S. Bank National Association LLC (with respect to all series except for the ETFMG Alternative Harvest ETF, ETFMG Prime Junior Silver ETF and ETFMG Sit Ultra Short ETF) is incorporated herein by reference to Exhibit (h)(11) to Post-Effective Amendment No. 31 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on January 28, 2016.](http://www.sec.gov/Archives/edgar/data/1467831/000089418916007206/lending_agmt.htm)</u> |
| | | (b) | <u>[F](etfmgseclendingagreement-1.htm)[i](etfmgseclendingagreement-1.htm)[rst Amendment](etfmgseclendingagreement-1.htm)[to the Securities Lending Agreement](etfmgseclendingagreement-1.htm)</u> – **filed herewith.** |
| | | (c) | <u>[Second](etfmgseclendingagreement-2.htm)[Amendment to the Securities Lending Agreement](etfmgseclendingagreement-2.htm)</u> – **filed herewith.** |
| | | (d) | <u>[Third Amendment to the Securities Lending Agreement is incorporated herein by reference to Exhibit (h)(3)(b) to the Post-Effective Amendment to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on June 4, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921003482/exh3bthirdamendmenttotheet.htm)</u> |
| | | (e) | <u>[Fourth](etfmgseclendingagreement-4.htm)[Amendment to the Securities Lending Agreement](etfmgseclendingagreement-4.htm)</u> – **filed herewith.** |
| (i) | (1) |  | <u>[Legal Opinion and Consent for AI Powered Equity ETF is incorporated herein by reference to Exhibit (i)(9) to Post-Effective Amendment No. 71 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on September 28, 2017.](http://www.sec.gov/Archives/edgar/data/1467831/000089418917005217/legal-opin.htm)</u> |
|  | (2) |  | <u>[Legal Opinion and Consent for ETFMG Alternative Harvest ETF is incorporated herein by reference to Exhibit (i)(10) to Post-Effective Amendment No. 8 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on December 20, 2017.](http://www.sec.gov/Archives/edgar/data/1467831/000161577417007471/s108492_ex-i10.htm)</u> |
|  | (3) |  | <u>[Legal Opinion and Consent for ETFMG Prime Junior Silver ETF, ETFMG Prime Cyber Security ETF, ETFMG Prime Mobile Payments ETF, ETFMG Drone Economy Strategy ETF, ETFMG Video Game Tech ETF, BlueStar Israel Technology ETF and Etho Climate Leadership U.S. ETF is incorporated herein by reference to Exhibit (i)(4) to Post-Effective Amendment No. 83 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on January 26, 2018.](http://www.sec.gov/Archives/edgar/data/1467831/000089418918000450/legal_consent.htm)</u> |
|  | (4) |  | <u>[Legal Opinion and Consent for ETFMG Sit Ultra Short ETF is incorporated herein by reference to Exhibit (i)(5) to Post-Effective Amendment No. 111 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on June 24, 2019.](http://www.sec.gov/Archives/edgar/data/1467831/000089418919003777/exi5legalopinion.htm)</u> |
|  | (5) |  | <u>[Legal Opinion and Consent for ETFMG Travel Tech ETF is incorporated herein by reference to Exhibit (i)(6) to Post-Effective Amendment No. 122 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on February 10, 2020.](http://www.sec.gov/Archives/edgar/data/1467831/000089418920001080/exi6legalopiniontraveltech.htm)</u> |
|  | (6) |  | <u>[Legal Opinion and Consent for ETFMG Treatments, Testing and Advancements ETF is incorporated herein by reference to Exhibit (i)(6) to Post-Effective Amendment No. 129 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on June 15, 2020.](http://www.sec.gov/Archives/edgar/data/1467831/000089418920004579/exi6-legalopinionforgerm.htm)</u> |
|  | (7) |  | <u>[Legal Opinion and Consent for ETFMG U.S. Alternative Harvest ETF is incorporated herein by reference to Exhibit (i)(7) to Post-Effective Amendment No. 137 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on May 5, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921002941/exi7legalopinionformjus.htm)</u> |
|  | (8) |  | <u>[Legal Opinion and Consent for ETFMG Prime 2X Daily Junior Silver Miners ETF and ETFMG 2X Travel Tech ETF, is incorporated herein by reference to Exhibit (i)(8) to the Post-Effective Amendment to Registrant's Registration Statement on Form N-1A, as filed with the SEC on June 4, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921003482/exi8legalopinionforetfmg2x.htm)</u> |
|  | (9) |  | <u>[Legal Opinion and Consent for ETFMG Breakwave Sea Decarbonization Tech ETF is incorporated herein by reference to Exhibit (i)(10) to Post Effective Amendment No. 145 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on September 16, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921006688/exhi10-legalopinionforetfm.htm)</u> |
|  | (10) |  | <u>[Legal Consent for use of Eversheds Sutherland (US) LLP is incorporated herein by reference to Exhibit (i)(10) to Post Effective Amendment No. 154 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on January 26, 2023.](http://www.sec.gov/Archives/edgar/data/1467831/000089418923000595/etfmg-legalconsent2023annu.htm)</u> |
| (j) |  |  | Consent of independent registered public accounting firm **– not applicable to this filing** |
| (k) |  |  | Not applicable. |
| (l) |  |  | Not applicable. |
| (m) | (1) |  | <u>[Amended and Restated Rule 12b-1 Plan is incorporated herein by reference to Exhibit (m)(2) to Post-Effective Amendment No. 71 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on September 28, 2017.](http://www.sec.gov/Archives/edgar/data/1467831/000089418917005217/rule12b-1.htm)</u> |

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| | | |
|:---|:---|:---|
| | (2) | <u>[Schedule A to the Amended and Restated Rule 12b-1 Plan](http://www.sec.gov/Archives/edgar/data/1467831/000089418921007333/exhm2-amendedandrestateddi.htm)</u><u>[is incorporated herein by reference to Exhibit (m)(2) to Post-Effective Amendment No. 146 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on October 15, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921007333/exhm2-amendedandrestateddi.htm)</u> |
| (n) |  | Not applicable. |
| (o) |  | Not applicable. |
| (p) | (1) | <u>[Code of Ethics of the Trust, ETFMG Financial LLC, and ETF Managers Group LLC is incorporated herein by reference to Exhibit (p)(1) to Post-Effective Amendment No. 111 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on June 24, 2019.](http://www.sec.gov/Archives/edgar/data/1467831/000089418919003777/exp1coetrustetfmgfinancial.htm)</u> |
|  | (2) | <u>[Code of Ethics of EquBot LLC is incorporated herein by reference to Exhibit (p)(4) to Post-Effective Amendment No. 71 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on September 28, 2017.](http://www.sec.gov/Archives/edgar/data/1467831/000089418917005217/coe-equbot.htm)</u> |
|  | (3) | <u>[Code of Ethics of Sit Fixed Income Advisors II, LLC is incorporated herein by reference to Exhibit (p)(3) to Post-Effective Amendment No. 111 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on June 24, 2019.](http://www.sec.gov/Archives/edgar/data/1467831/000089418919003777/exp3sitcoe.htm)</u> |
| (q) | (1) | <u>[Power of Attorney dated September 28, 2020 for Terry Loebs is incorporated herein by reference to Exhibit (q)(1) to Post-Effective Amendment No. 132 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on January 29, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921000565/exq1etfmgpowerofattorney-t.htm)</u> |
|  | (2) | <u>[Power of Attorney dated September 28, 2020 for Eric Weigel is incorporated herein by reference to Exhibit (q)(2) to Post-Effective Amendment No. 132 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on January 29, 2021.](http://www.sec.gov/Archives/edgar/data/1467831/000089418921000565/exq2etfmgpowerofattorney-e.htm)</u> |
|  | (3) | <u>[Opinion of counsel regarding legal status of the ETFMG Alternative Harvest ETF and ETFMG U.S. Alternative Harvest ETF, s incorporated herein by reference to Exhibit (q)(3) to Post-Effective Amendment 152 to the Registrant's Registration Statement on Form N-1A, as filed with the SEC on August 18, 2022.](http://www.sec.gov/Archives/edgar/data/1467831/000089418922005764/etfmgmj-seyfarthshawlegalo.htm)</u> |

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**<u>ITEM 29</u>. <u>PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH THE REGISTRANT</u>**

Not Applicable.

**<u>ITEM 30</u>. <u>INDEMNIFICATION</u>**

The Trustees shall not be responsible or liable in any event for any neglect or wrongdoing of any officer, agent, employee, adviser or principal underwriter of the Trust, nor shall any Trustee be responsible for the act or omission of any other Trustee, and, subject to the provisions of the By-Laws, the Trust out of its assets may indemnify and hold harmless each and every Trustee and officer of the Trust from and against any and all claims, demands, costs, losses, expenses, and damages whatsoever arising out of or related to such Trustee's or officer's performance of his or her duties as a Trustee or officer of the Trust; provided that nothing herein contained shall indemnify, hold harmless or protect any Trustee or officer from or against any liability to the Trust or any Shareholder to which he or she would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office.

Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever issued, executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been issued, executed or done only in or with respect to their or his or her capacity as Trustees or Trustee, and such Trustees or Trustee shall not be personally liable thereon.

Insofar as indemnification for liability arising under the Securities Act of 1933 (the "Securities Act") may be permitted to Trustees, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such Trustee, officer, or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

**<u>ITEM 31.</u> <u>BUSINESS AND OTHER CONNECTIONS OF THE INVESTMENT ADVISER</u>**

ETF Managers Group LLC (the "Adviser") serves as the investment adviser for each series of the Trust. The principal address of the Adviser is 30 Maple Street, 2<sup>nd</sup> Floor, Summit, New Jersey 07901.

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EquBot LLC serves as investment sub-adviser for the AI Powered Equity ETF. The principal address of EquBot LLC is 450 Townsend Street, San Francisco, California 94107.

Sit Fixed Income Advisors II, LLC serves as investment sub-adviser for the ETFMG Sit Ultra Short ETF. The principal address of Sit Fixed Income Advisors II, LLC is 3300 IDS Center, 80 South 8th Street, Minneapolis, Minnesota 55402.

Each of the above entities is an investment adviser registered with the SEC under the Investment Advisers Act of 1940.

This Item incorporates by reference each firm's Uniform Application for Investment Adviser Registration ("Form ADV") on file with the SEC, as listed below. The Form ADV may be obtained, free of charge, at the SEC's website at www.adviserinfo.sec.gov. Additional information as to any other business, profession, vocation or employment of a substantial nature engaged in by each officer and director of the firms below is included in the Trust's Statement of Additional Information.

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| | |
|:---|:---|
| <u>Investment Adviser</u> | <u>SEC File No.</u> |
| ETF Managers Group LLC | 801-107165 |
| EquBot LLC | 801-110987 |
| Sit Fixed Income Advisors II, LLC | 801-55201 |

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**Item 32. Principal Underwriter.**

(a)&nbsp;&nbsp;&nbsp;&nbsp; ETF Managers Trust is the only investment company for which ETFMG Financial LLC acts as a principal underwriter.

(b)&nbsp;&nbsp;&nbsp;&nbsp; To the best of Registrant's knowledge, the directors and executive officers of ETFMG Financial LLC are as follows:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**<u>Name\*</u>** | &nbsp;&nbsp;**<u>Position with Underwriter</u>** | &nbsp;&nbsp;**<u>Positions with Fund</u>** |
| &nbsp;&nbsp;Samuel R. Masucci III | &nbsp;&nbsp;Chief Executive Officer | &nbsp;&nbsp;Trustee, President and Secretary |
| &nbsp;&nbsp;Daniel Beaton  | &nbsp;&nbsp;FINOP | &nbsp;&nbsp;None |
| &nbsp;&nbsp;Joseph Kessel | &nbsp;&nbsp;Chief Compliance Officer | &nbsp;&nbsp;None |
| &nbsp;&nbsp;Matthew Bromberg | &nbsp;&nbsp;General Counsel and Secretary | &nbsp;&nbsp;Assistant Secretary |

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\* The principal business address for each of the above individuals is 30 Maple Street, 2nd Floor, Summit, New Jersey 07901.

(c)&nbsp;&nbsp;&nbsp;&nbsp; Not applicable.

**<u>ITEM 33.</u> <u>LOCATION OF ACCOUNTS AND RECORDS:</u>**

State the name and address of each person maintaining principal possession of each account, book or other document required to be maintained by section 31(a) of the 1940 Act Section 15 U.S.C. 80a-30(a) and the rules under that section.

All accounts, books, and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the rules promulgated thereunder are maintained at the following offices:

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;(a) Registrant: | ETF Managers Trust<br>30 Maple Street, 2<sup>nd</sup> Floor <br>Summit, New Jersey 07901  |
| &nbsp;&nbsp;&nbsp;&nbsp;(b) Adviser: | ETF Managers Group<br>30 Maple Street, 2<sup>nd</sup> Floor <br>Summit, New Jersey 07901  |
| &nbsp;&nbsp;&nbsp;&nbsp;(c) Sub-Adviser | EquBot, Inc.<br>450 Townsend Street <br>San Francisco, California 94107 |
| &nbsp;&nbsp;&nbsp;&nbsp;(d) Sub-Adviser | Sit Fixed Income Advisors II, LLC <br>3300 IDS Center, 80 South 8th Street Minneapolis, Minnesota 55402 |
| &nbsp;&nbsp;&nbsp;&nbsp;(e) Principal Underwriter: | ETFMG Financial LLC<br>30 Maple Street, 2<sup>nd</sup> Floor <br>Summit, New Jersey 07901  |
| &nbsp;&nbsp;&nbsp;&nbsp;(f) Custodian: | U.S. Bank National Association <br>Custody Operations<br>1555 North Rivercenter Drive, Suite 302 <br>Milwaukee, Wisconsin 53212  |

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**<u>ITEM 34.</u> <u>MANAGEMENT SERVICES</u>**

Not Applicable.

**<u>ITEM 35.</u> <u>UNDERTAKINGS</u>**

Not Applicable.

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**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Trust has duly caused this Amendment to be signed below on its behalf by the undersigned, duly authorized, in the City of Summit, State of New Jersey, on March 3, 2023.

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| | |
|:---|:---|
| **ETF Managers Trust** | **ETF Managers Trust** |
| By: | /s/ Samuel Masucci, III |
|  | Samuel Masucci, III |
|  | Trustee and President |

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Pursuant to the requirements of the Securities Act, this Registration Statement has been signed below by the following persons in the capacity indicated on March 3, 2023.

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| | |
|:---|:---|
| Signature | Title |
| /s/ Samuel Masucci, III | Trustee and President (principal executive officer) |
| Samuel Masucci, III | |
| /s/ John A. Flanagan | Treasurer (principal financial officer and principal accounting officer) |
| John A. Flanagan | |
| Terry Loebs\* | Trustee |
| Terry Loebs | |
| Eric Weigel\* | Trustee |
| Eric Weigel | |

---

---

| |
|:---|
| /s/ Samuel Masucci, III |
| \*Samuel Masucci, III, Power of Attorney |

---

------

**INDEX TO EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| (h)(3)(b) | <u>[First Amendment to the Securities Lending Agreement](etfmgseclendingagreement-1.htm)</u> |
| (h)(3)(c) | <u>[Second Amendment to the Securities Lending Agreement](etfmgseclendingagreement-2.htm)</u> |
| (h)(3)(e) | <u>[Fourth Amendment to the Securities Lending Agreement](etfmgseclendingagreement-4.htm)</u> |

---

------

## Ex-99.(H)(3)(B)

**FIRST AMENDMENT TO**

**SECURITIES LENDING AGREEMENT**

THIS FIRST AMENDMENT TO SECURITIES LENDING AGREEMENT ("First Amendment"), dated effective as of October 3, 2016, is made and entered into by and between U.S. Bank National Association ("Bank") and ETF Managers Trust, formerly known as FactorShares Trust ("Trust"), on behalf of each respective series identified in <u>Exhibit C</u> to the Agreement (each such series hereinafter referred to as a separate "Customer").

**WITNESSETH:**

WHEREAS, U.S. Bank and Trust, on behalf of each of its Customers, are parties to that certain Securities Lending Agreement, dated effective as of January 8, 2016 ("Agreement"); and

WHEREAS, the parties now desire to amend the Agreement as set forth herein.

NOW, THEREFORE, in consideration of the mutual premises, covenants and undertakings set forth herein, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>References</u>. All references to "FactorShares Trust'' in the Agreement shall hereby be deleted and replaced with references to "ETF Managers Trust".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Approved Borrowers</u>. The Approved Borrowers attached as Exhibit A to the Agreement shall hereby be deleted and replaced by the Approved Borrowers attached as Exhibit A to this First Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Customer Information Sheet</u>. The Customer Information Sheet attached to the Agreement shall hereby be deleted and replaced by the Customer Information Sheet attached as <u>Exhibit C</u> to this Second Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Election of Collateral Investment</u>. The Election of Collateral Investment attached as <u>Exhibit D</u> to the Agreement shall hereby be deleted and replaced by the Election of Collateral Investment attached as <u>Exhibit D</u> to this First Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Full Force and Effect</u>. Except as specifically modified by this First Amendment, the Agreement shall r main in full force and effect. All references to the Agreement shall be deemed to mean the Agreement as modified by this First Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Counterparts</u>. This First Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

**[SIGNATURE PAGE FOLLOWS]**

------

IN WITNESS WHEREOF, the undersigned parties have executed this First Amendment effective as of the day and year first above written.

---

| | | | |
|:---|:---|:---|:---|
| U.S. BANK NATIONAL ASSOCIATION | U.S. BANK NATIONAL ASSOCIATION | ETF MANAGERS TRUST | ETF MANAGERS TRUST |
| By: | /s/ Kenneth L. Delecki | By: | /s/ Samuel Masucci |
| Name: | Kenneth L. Delecki | Name: | Samuel Masucci |
| Title: | Head of Securities Lending | Title: | CEO |

---

------

**APPROVED BORROWERS**

**The following entities are pre-approved as "Borrowers" pursuant to the Securities Lending Agreement unless the Customer places an "X" on the line across from a Borrower name.**

---

| | |
|:---|:---|
| Bank of Montreal | |
| The Bank of Nova Scotia | |
| Barclays Capital, Inc. | |
| BMO Capital Markets Corp | |
| BNP Paribas, New York Branch | |
| BNP Paribas Prime Brokerage, Inc. | |
| BNP Paribas Securities Corp | |
| Cantor Fitzgerald & Co. | |
| Citigroup Global Markets, Inc. | |
| Commerz Markets LLC | **X** |
| Credit Agricole Securities (USA) Inc. | |
| Credit Suisse Securities (USA), LLC | |
| Deutsche Bank Securities, Inc. | **X** |
| First Clearing, LLC | |
| Goldman Sachs & Co. | |
| HSBC Securities (USA), Inc. | |
| ING Financial Markets, LLC | |
| Jefferies & Company, Inc. | |
| J.P. Morgan Securities LLC | |
| Merrill Lynch, Pierce, Fenner & Smith, Inc. | |
| Mitsubishi UFJ Securities (USA), Inc. | |
| Morgan Stanley & Co. LLC | |
| National Financial Services LLC | |
| Pershing, LLC | |
| Raymond James & Associates, Inc. | |
| RBC Capital Markets, LLC | |
| RBS Securities, Inc. | |
| Scotia Capital (USA), Inc. | |
| SG Americas Securities, LLC | |
| Societe Generale, New York Branch | |
| TD Ameritrade Clearing, Inc. | |
| TD Securities (USA) LLC | |
| UBS Securities, LLC | |
| Wells Fargo Securities, LLC | |

---

---

| | |
|:---|:---|
| ETF MANAGERS TRUST | ETF MANAGERS TRUST |
| By: | /s/ Samuel Masucci |
| Name: | Samuel Masucci |
| Title: | CEO |
| Date: | 9-29-16 |

---

------

**<u>EXHIBIT C</u>**

**CUSTOMER INFORMATION SHEET**

Please provide the Bank with the following information:

Name: <u>ETF Managers Trust</u>

Tax identification number: <u>46-0983196</u>

(for multiple tax identification numbers, please use the bottom half of this page)

Principal place of business: <u>30 Maple Street, 2nd Floor, Summit, NJ 07901</u>

State and nation of incorporation or organization: <u>State of Delaware, United States</u>

Address (or the address of

your registered agent) within

state of incorporation or organization: <u>300 Delaware Ave., Suite 800, Wilmington, DE 19801</u>

If multiple legal entities will be lending securities under this Customer Agreement, please list the name of each entity and its unique tax identification number below (attach additional pages if necessary):

---

| | |
|:---|:---|
| **<u>Name</u>** | **<u>Tax ID</u>** |
| PureFunds ISE Cyber Security ETF | 47-2111761 |
| PureFunds ISE Big Data ETF | 47-3883274 |
| PureFunds ISE Mobile Payments ETF | 47-3870731 |
| Tierra XP Latin America Real Estate ETF | 47-4900914 |
| The Restaurant ETF | 47-4896281 |
| BlueStar TA-BIGITech Israel Technology ETF | 47-4925476 |
| Etho Climate Leadership U.S. ETF | 47-4913623 |
| PureFunds Video Game Tech ETFs | 81-0866952 |
| PureFunds Drone Economy Strategy ETF | 81-0871286 |

---

------

**<u>EXHIBIT D</u>**

**ELECTION OF COLLATERAL INVESTMENT**

U.S. Bank, N.A.

800 Nicollet Mall

Minneapolis, MN 55402

Ladies and Gentlemen:

Pursuant to the Securities Lending Agreement, as may be amended from time to time ("Agreement") between U.S. Bank National Association ("Bank") and ETF Managers Trust, on behalf of each respective series identified in Exhibit C to the Agreement (each such series hereinafter referred to as a separate ("Customer"), Trust desires to elect the Collateral Investment into which Cash Collateral and Proceeds are invested (as such terms are defined in the Agreement).

Trust hereby requests that Mount Vernon Liquid Assets Portfolio, LLC ("MVL'') be designated as a Collateral Investment pursuant to Section 1 of the Agreement, effective as of the date on which the subscription agreement relating to MVL attached as Attachment 1 has been fully executed by Customer and Bank. This election to use MVL does not otherwise amend the terms of the Agreement.

Please acknowledge your agreement to the terms set out above by signing and dating where indicated below.

---

| | | | |
|:---|:---|:---|:---|
| ETF MANAGERS TRUST, on behalf of each Customer listed on <u>Exhibit C</u> to the Agreement | ETF MANAGERS TRUST, on behalf of each Customer listed on <u>Exhibit C</u> to the Agreement | ACKNOWLEDGED:<br>U.S. BANK NATIONAL ASSOCIATION | ACKNOWLEDGED:<br>U.S. BANK NATIONAL ASSOCIATION |
| By: | /s/ Samuel Masucci | By: | /s/ Kenneth L. Delecki |
| Name: | Samuel Masucci | Name: | Kenneth L. Delecki |
| Title: | President | Title: | Head of Securities Lending |
| Date: | 8/31/16 | Date: | 10/4/16 |

---

## Ex-99.(H)(3)(C)

**SECOND AMENDMENT TO** 

**SECURITIES LENDING AGREEMENT**

THIS SECOND AMENDMENT TO SECURITIES LENDING AGREEMENT ("Second Amendment"), dated effective as of December (L 2019, is made and entered into by and between U.S. Bank National Association ("Bank") and ETF Managers Trust ("Trust"), on behalf of each respective series identified in Exhibit C to the Agreement (each such series hereinafter referred to as a separate "Customer").

**WITNESSETH:**

WHEREAS, U.S. Bank and Trust, on behalf of each of its Customers, are parties to that ce1iain Securities Lending Agreement, dated effective as of January 8, 2016, as amended effective as of October 3, 2016 ("Agreement"); and

WHEREAS, the parties now desire to amend the Agreement as set forth herein.

NOW, THEREFORE, in consideration of the mutual premises, covenants and undertakings set forth herein, the patties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Customer Information Sheet</u>. The Customer Information Sheet attached to the Agreement shall hereby be deleted and replaced by the Customer Information Sheet attached as <u>Exhibit C</u> to this Second Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Election of Collateral Investment</u>. The Election of Collateral Investment attached as <u>Exhibit D</u> to the Agreement shall hereby be deleted and replaced by the Election of Collateral Investment attached as <u>Exhibit D</u> to this Second Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Full Force and Effect</u>. Except as specifically modified by this Second Amendment, the Agreement shall remain in full force and effect. All references to the Agreement shall be deemed to mean the Agreement as modified by this Second Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Counterparts</u>. This Second Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

**[SIGNATURE PAGE FOLLOWS]**

------

IN WITNESS WHEREOF, the undersigned parties have executed this Second Amendment effective as of the day and year first above written.

---

| | | | |
|:---|:---|:---|:---|
| U.S. BANK NATIONAL ASSOCIATION | U.S. BANK NATIONAL ASSOCIATION | ETF MANAGERS TRUST | ETF MANAGERS TRUST |
| By: | /s/ Kenneth L. Delecki | By: | /s/ Samuel Masucci |
| Name: | Kenneth L. Delecki | Name: | Samuel Masucci |
| Title: | Head of Securities Lending | Title: | CEO |

---

------

**EXHIBIT C**

**CUSTOMER INFORMATION SHEET**

**as of December 9, 2019**

Please provide the Bank with the following information:

Name: <u>ETF Managers Trust</u>

Tax identification number: <u>see below</u>

(for multiple tax identification numbers, please use the bottom half of this page)

Principal place of business: <u>30 Maple Street, 2</u><sup>nd</sup> <u>Floor, Summit, NJ 07901</u>

State and nation of incorporation or organization: <u>State of Delaware, United States</u>

Address (or the address of

your registered agent) within

state of incorporation or organization: <u>300 Delaware Ave., Suite 800, Wilmington, DE 19801</u>

If multiple legal entities will be lending securities under this Customer Agreement, please list the name of each entity and its unique tax identification number below (attach additional pages if necessary):

---

| | |
|:---|:---|
| **<u>Name</u>** | **<u>Tax ID</u>** |
| AI Powered Equity ETF | 82-2073816 |
| BlueStar T A-BIGITech Israel Technology ETF | 47-4925476 |
| Etho Climate Leadership U.S. ETF | 47-4913623 |
| ETFMG Drone Economy Strategy ETF | 81-0871286 |
| ETFMG Prime Cyber Security ETF | 47-2111761 |
| ETFMG Prime Mobile Payments ETF | 47-3870731 |
| ETFMG Video Game Tech ETF | 81-0866952 |

---

------

<u>EXHIBIT D</u>

ELECTION OF COLLATERAL INVESTMENT

U.S. Bank, N.A.

800 Nicollet Mall

Minneapolis, MN 55402

Ladies and Gentlemen:

Pursuant to the Securities Lending Agreement, as may be amended from time to time ("Agreement") between U.S. Bank National Association ("Bank") and ETF Managers Trust, on behalf of each respective series identified in <u>Exhibit C</u> to the Agreement (each such series hereinafter referred to as a separate "Customer"), Trust desires to elect the Collateral Investment into which Cash Collateral and Proceeds are invested (as such terms are defined in the Agreement).

Customer hereby requests that Mount Vernon Liquid Assets Portfolio, LLC ("MVL") be designated as a Collateral Investment pursuant to Section 1 of the Agreement, effective as of the date on which the subscription agreement relating to MVL has been fully executed by Customer and Bank. Customer hereby requests that ETFMG Sit Ultra Short EFT, a series of ETF Managers Trust ("VALT") be designated as an additional Collateral Investment pursuant to Section 1 of the Agreement, effective as of the effective date of the Second Amendment. Customer represents and warrants that it is familiar with the Investment Company Act of 1940, as amended, and that it has reviewed and understands the most recent prospectus relating to VALT. Trust, on behalf of each Customer, covenants and agrees that no more than twenty percent (20%) of Customer's Collateral Account may be invested in VALT ("VALT Ceiling Level"), measured at the time of purchase. Trust, on behalf of each Customer, further covenants and agrees that in the event more than fifty percent (50%) of Customer's Collateral Account becomes invested in VALT for any reason, Customer shall promptly redeem units of VALT and/or take such other actions as may be necessary to restore the investment in VALT within Customer's Collateral Account to or below the VALT Ceiling Level.

Customer acknowledges and understands that Customer's use of VALT as a Collateral Investment is likely to periodically result in Loans which incur losses ("Negative Loans"). Customer agrees that any losses to Customer or Bank due to Negative Loans or Customer's use of VALT as a Collateral Investment shall be the sole responsibility of Customer and Bank shall be promptly reimbursed for any such losses, including lost profits, and shall have no liability in connection therewith. Customer shall provide written instruction to Bank from time to time directing the respective amounts and propo1tions of Customer's Cash Collateral to be invested in MVL and VALT, and Bank shall exercise reasonable care and efforts to follow such instructions, subject to the limitations set forth above.

These elections to use MVL and VALT do not othe1wise amend the terms of the Agreement including, without limitation, (1) Customer's understanding that it bears the risks of investment loss, including any decline in value of Cash Collateral investments, and (2) Customer's agreement that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, Customer shall pay to Bank, on demand, cash in an amount equal to such deficiency. Customer shall be

------

responsible for payment of any overdraft charges incurred in connection with Customer's use of VALT as a Collateral Investment, including without limitation any overdraft charges resulting from unsettled redemptions that may be required to return Collateral to Borrowers,

**[SIGNATURE PAGE FOLLOWS]**

------

Please acknowledge your agreement to the tem1s set out above by signing and dating where indicated below.

---

| | | | |
|:---|:---|:---|:---|
| ETF MANAGERS TRUST,<br>on behalf of each Customer listed on <u>Exhibit C</u> to the Agreement | ETF MANAGERS TRUST,<br>on behalf of each Customer listed on <u>Exhibit C</u> to the Agreement | ACKNOWLEDGED:<br>U.S. BANK NATIONAL ASSOCIATION | ACKNOWLEDGED:<br>U.S. BANK NATIONAL ASSOCIATION |
| By: | /s/ Samuel Masucci | By: | /s/ Kenneth L. Delecki |
| Name: | Samuel Masucci | Name: | Kenneth L. Delecki |
| Title: | CEO | Title: | Head of Securities Lending |
| Date: | 12/17/19 | Date: | 12/17/19 |

---

## Ex-99.(H)(3)(E)

**FOURTH AMENDMENT TO** 

**SECURITIES LENDING AGREEMENT**

THIS FOURTH AMENDMENT TO SECURITIES LENDING AGREEMENT ("Second Amendment"), dated effective as of October 1, 2021, is made and entered into by and between U.S. Bank National Association ("Bank") and ETF Managers Trust ("Trust"), on behalf of each respective series identified in <u>Exhibit C</u> to the Agreement (each such series hereinafter referred to as a separate "Customer").

**WITNESSETH:**

WHEREAS, U.S. Bank and Trust, on behalf of each of its Customers, are parties to that certain Securities Lending Agreement, dated effective as of January 8, 2016, as amended effective as of October 3, 2016 ("Agreement"); and

WHEREAS, the parties now desire to amend the Agreement as set forth herein.

NOW, THEREFORE, in consideration of the mutual premises, covenants and undertakings set forth herein, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Election of Collateral Investment</u>. The Election of Collateral Investment attached as <u>Exhibit D</u> to the Agreement shall hereby be deleted and replaced by the Election of Collateral Investment attached as <u>Exhibit D</u> to this Fourth Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Full Force and Effect</u>. Except as specifically modified by this Fourth Amendment, the Agreement shall remain in full force and effect. All references to the Agreement shall be deemed to mean the Agreement as modified by this Fourth Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Counterparts</u>. This Fourth Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

**[SIGNATURE PAGE FOLLOWS]**

------

IN WITNESS WHEREOF, the undersigned parties have executed this Fourth Amendment effective as of the day and year first above written.

---

| | | | |
|:---|:---|:---|:---|
| U.S. BANK NATIONAL ASSOCIATION | U.S. BANK NATIONAL ASSOCIATION | ETF MANAGERS TRUST | ETF MANAGERS TRUST |
| By: | /s/ Jill Stevenson | By: | /s/ John A. Flanagan |
| Name: | Jill Stevenson | Name: | John A. Flanagan |
| Title: | Vice President | Title: | Treasurer |

---

------

**<u>EXHIBIT D</u>**

**ELECTION OF COLLATERAL INVESTMENT**

U.S. Bank, N.A.

800 Nicollet Mall

Minneapolis, MN 55402

Ladies and Gentlemen:

Pursuant to the Securities Lending Agreement, as may be amended from time to time ("Agreement") between U.S. Bank National Association ("Bank") and ETF Managers Trust, on behalf of each respective series identified in <u>Exhibit C</u> to the Agreement (each such series hereinafter referred to as a separate "Customer"), Trust desires to elect the Collateral Investment into which Cash Collateral and Proceeds are invested (as such terms are defined in the Agreement).

Customer hereby requests that Mount Vernon Liquid Assets Portfolio, LLC ("MVL") be designated as a Collateral Investment pursuant to Section 1 of the Agreement, effective as of the date on which the subscription agreement relating to MVL has been fully executed by Customer and Bank. Customer hereby requests that ETFMG Sit Ultra Short EFT, a series of ETF Managers Trust ("VALT") be designated as an additional Collateral Investment pursuant to Section 1 of the Agreement, effective as of the effective date of the Second Amendment. Customer represents and warrants that it is familiar with the Investment Company Act of 1940, as amended, and that it has reviewed and understands the most recent prospectus relating to VALT. Trust, on behalf of each Customer, covenants and agrees that no more than (i) thirty three percent (33%) of the Collateral Account of ETFMG Prime Cyber Security ETF and ETF Prime Mobile Payments ETF; and (ii) twenty percent (20%) of each other Customer's Collateral Account may be invested in VALT ("VALT Ceiling Level"), measured at the time of purchase. Trust, on behalf of each Customer, further covenants and agrees that in the event more than fifty percent (50%) of Customer's Collateral Account becomes invested in VALT for any reason, Customer shall promptly redeem units of VALT and/or take such other actions as may be necessary to restore the investment in VALT within Customer's Collateral Account to or below the VALT Ceiling Level.

Customer acknowledges and understands that Customer's use of VALT as a Collateral Investment is likely to periodically result in Loans which incur losses ("Negative Loans"). Customer agrees that any losses to Customer or Bank due to Negative Loans or Customer's use of VALT as a Collateral Investment shall be the sole responsibility of Customer and Bank shall be promptly reimbursed for any such losses, including lost profits, and shall have no liability in connection therewith. Customer shall provide written instruction to Bank from time to time directing the respective amounts and proportions of Customer's Cash Collateral to be invested in MVL and VALT, and Bank shall exercise reasonable care and efforts to follow such instructions, subject to the limitations set forth above.

These elections to use MVL and VALT do not otherwise amend the terms of the Agreement including, without limitation, (1) Customer's understanding that it bears the risks of investment loss, including any decline in value of Cash Collateral investments, and (2) Customer's agreement that, to the extent any loss arising out of investments of Cash Collateral

------

results in a deficiency in the amount of Collateral available for return to a Borrower, Customer shall pay to Bank, on demand, cash in an amount equal to such deficiency. Customer shall be responsible for payment of any overdraft charges incurred in connection with Customer's use of VALT as a Collateral Investment, including without limitation any overdraft charges resulting from unsettled redemptions that may be required to return Collateral to Borrowers.

**[SIGNATURE PAGE FOLLOWS]**

------

Please acknowledge your agreement to the terms set out above by signing and dating where indicated below.

---

| | | | |
|:---|:---|:---|:---|
| ETF MANAGERS TRUST,<br>on behalf of each Customer listed on <u>Exhibit C</u> to the Agreement | ETF MANAGERS TRUST,<br>on behalf of each Customer listed on <u>Exhibit C</u> to the Agreement | ACKNOWLEDGED:<br>U.S. BANK NATIONAL ASSOCIATION | ACKNOWLEDGED:<br>U.S. BANK NATIONAL ASSOCIATION |
| By: | /s/ John A. Flanagan | By: | /s/ Jill Stevenson |
| Name: | John A. Flanagan | Name: | Jill Stevenson |
| Title: | Treasurer | Title: | Vice President |
| Date: | 10/13/21 | Date: | October 14, 2021 |

---

<br>