# EDGAR Filing Document

**Accession Number:** 0001547576
**File Stem:** 0001829126-23-000836
**Filing Date:** 2023-1
**Character Count:** 4470
**Document Hash:** 94ca4505a750aca6f997f72c138a49c1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-23-000836.hdr.sgml**: 20230117

**ACCESSION NUMBER**: 0001829126-23-000836

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230117

**DATE AS OF CHANGE**: 20230117

**EFFECTIVENESS DATE**: 20230117

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Krane Shares Trust
- **CENTRAL INDEX KEY:** 0001547576
- **IRS NUMBER:** 456861457
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-180870
- **FILM NUMBER:** 23531528

**BUSINESS ADDRESS:**
- **STREET 1:** 280 PARK AVENUE
- **STREET 2:** 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 646-479-5031

**MAIL ADDRESS:**
- **STREET 1:** 280 PARK AVENUE
- **STREET 2:** 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Series and Classes Contracts Data

### KFA Large Cap Quality Dividend Index ETF (Series ID: S000065596)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| KFA Large Cap Quality Dividend Index ETF | KLCD          | C000212213 |

---

### KFA Small Cap Quality Dividend Index ETF (Series ID: S000065597)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| KFA Small Cap Quality Dividend Index ETF | KSCD          | C000212214 |

---

## Series and Classes Contracts Data

### KFA Large Cap Quality Dividend Index ETF (Series ID: S000065596)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000212213 | KFA Large Cap Quality Dividend Index ETF | KLCD            |

### KFA Small Cap Quality Dividend Index ETF (Series ID: S000065597)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000212214 | KFA Small Cap Quality Dividend Index ETF | KSCD            |

**KRANE SHARES TRUST**

**KFA Large Cap Quality Dividend ETF** 

**KFA Small Cap Quality Dividend ETF** 

**(each, a "Fund")**

**Supplement dated January 17, 2023 to the currently effective Summary Prospectus, Statutory Prospectus and Statement of Additional Information as each may be supplemented, for each Fund**

**This supplement provides new and additional information beyond that contained in each Fund's currently effective Summary Prospectus and Statutory Prospectus (together, the "Prospectus") and Statement of Additional Information and should be read in conjunction with the Prospectus and Statement of Additional Information dated August 1, 2022.**

Upon the recommendation of Krane Funds Advisors LLC, the adviser to KFA Large Cap Quality Dividend ETF and KFA Small Cap Quality Dividend ETF, the Board of Trustees of KraneShares Trust (the "Trust") has approved the liquidation and termination of each Fund, each a series of the Trust. Accordingly, shares of each Fund will cease trading on the NYSE Arca, Inc. ("Exchange"), and will be closed to purchase by investors as of the close of regular trading on the Exchange on February 1, 2023 ("Closing Date"). Shareholders may sell their holdings in each Fund prior to the Closing Date. No Fund will accept purchase orders after the Closing Date.

From the Closing Date through February 10, 2023 ("Liquidation Date"), shareholders may only be able to sell their shares to certain broker-dealers. There is no assurance that there will be a market for each Fund's shares during this period.

After the Closing Date, neither Fund should be expected to track its underlying index. Rather, each Fund should be expected to depart from its stated investment objective and strategies as it converts any remaining portfolio holdings to cash in preparation for the final distribution to shareholders.

On or about the Liquidation Date, each Fund will distribute the net asset value per share in cash, pro rata, to all shareholders who have not previously redeemed or sold their shares. As calculated and distributed on the Liquidation Date, each Fund's net asset value will reflect certain costs of closing the Fund. These distributions are a taxable event for shareholders that are subject to federal income tax. In addition, these payments to shareholders may include accrued capital gains and dividends.

Once the distributions are complete, each Fund will terminate.

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.**