Document:

EX-10.(ii)

 

 
 Exhibit 10(ii) 

CUSTODY AGREEMENT 
 (U.S.
Dollar Only) 
 AGREEMENT, dated as of December    , 2016 by and between SOLIDX BITCOIN TRUST (hereinafter the
“Trust”), a Delaware statutory trust, having its principal office and place of business at 200 Park Avenue, New York, New York 10166 and The Bank of New York Mellon, a New York corporation authorized to do a banking business, having its
principal office and place of business at 225 Liberty Street, New York, New York 10286 (“Custodian”). 
 W I T N E S S E T H:

 That for and in consideration of the mutual promises hereinafter set forth the Trust and Custodian agree as follows: 

ARTICLE I 
 DEFINITIONS

 Whenever used in this Agreement, the following words shall have the meanings set forth below: 

1. “Authorized Person” shall mean each person, whether or not an officer or an employee of the Trust, duly authorized to
execute this Agreement and to give Instructions on behalf of the Trust as set forth in Schedule I hereto and each Authorized Person’s scope of authority may be limited by setting forth such limitation in a written document signed by both
parties hereto. From time to time the Trust may deliver a new Schedule I to add or delete any person and Custodian shall be entitled to rely on the last Schedule I hereto actually received by Custodian. 

2. “Business Day” shall mean any day on which Custodian and relevant Depositories are open for business. 

3. “Cash” shall mean U.S. dollars. 

4. “Certificate” shall mean any notice, instruction, or other instrument in writing, authorized or required by this Agreement
to be given to Custodian, which is actually received by Custodian by letter or facsimile transmission and signed on behalf of the Trust by an Authorized Person or a person reasonably believed by Custodian to be an Authorized Person. 

5. “Custodian Affiliate” shall mean any office, branch or subsidiary of The Bank of New York Mellon Corporation. 

6. “Instructions” shall mean communications actually received by Custodian by S.W.I.F.T., tested telex, letter, facsimile
transmission, or other method or system specified by Custodian as for use available in connection with the services hereunder. 

  

 7. “Oral Instructions” shall mean verbal instructions received by Custodian from
an Authorized Person or from a person reasonably believed by Custodian to be an Authorized Person. 
 8. “Transfer Agent”
shall mean The Bank of New York Mellon or an affiliate, subject to a separate Transfer Agency and Service Agreement entered into between the parties, or any successor transfer agent identified to Custodian in a Certificate. 

ARTICLE II 
 APPOINTMENT
OF CUSTODIAN; ACCOUNTS; 
 REPRESENTATIONS, WARRANTIES, AND COVENANTS 

1. (a) The Trust hereby appoints Custodian as custodian of all Cash at any time delivered to Custodian during the term of this Agreement.
Custodian hereby accepts such appointment and agrees to establish and maintain one or more cash accounts for the Trust. Such account (the “Account”) shall be in the name of the Trust. 

(b) Custodian may from time to time establish on its books and records such sub-accounts within each
Account as the Trust and Custodian may agree upon (each a “Special Account”), and Custodian shall reflect therein such assets as the Trust may specify in a Certificate or Instructions. 

(c) Custodian may from time to time establish pursuant to a written agreement with and for the benefit of a broker, dealer, futures commission
merchant or other third party identified in a Certificate or Instructions such accounts on such terms and conditions as the Trust and Custodian shall agree, and Custodian shall transfer to such accounts such Cash as the Trust may specify in a
Certificate or Instructions. 
 2. The Trust hereby represents and warrants, which representations and warranties shall be continuing and
shall be deemed to be reaffirmed upon each delivery of a Certificate or each giving of Oral Instructions or Instructions by the Trust, that: 

(a) It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now
conducted, to enter into this Agreement, and to perform its obligations hereunder; 
 (b) This Agreement has been duly authorized, executed
and delivered by the Trust, constitutes a valid and legally binding obligation of the Trust, enforceable in accordance with its terms, and there is no statute, regulation, rule, order or judgment binding on it, and no provision of its charter or by-laws, nor of any mortgage, indenture, credit agreement or other contract binding on it or affecting its property, which would prohibit its execution or performance of this Agreement; 

(c) It is conducting its business in substantial compliance with all applicable laws and requirements, both state and federal, and has
obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted; 

  
 - 2 - 

 (d) It will not use the services provided by Custodian hereunder in any manner that is, or will
result in, a violation of any law, rule or regulation applicable to the Trust; 
 (e) It is fully informed of the protections and risks
associated with various methods of transmitting Instructions and Oral Instructions and delivering Certificates to Custodian, shall, and shall cause each Authorized Person, to safeguard and treat with extreme care any user and authorization codes,
passwords and/or authentication keys, understands that there may be more secure methods of transmitting or delivering the same than the methods selected by it, agrees that the security procedures (if any) to be followed in connection therewith
provide a commercially reasonable degree of protection in light of its particular needs and circumstances, and acknowledges and agrees that Instructions need not be reviewed by Custodian, may be presumed in good faith by Custodian to have been given
by person(s) duly authorized, and may be acted upon as given; 
 (f) It shall impose and maintain restrictions on the destinations to which
cash may be disbursed by Instructions to ensure that each disbursement is for a proper purpose; and 
 (g) It has the right to make the
pledge and grant the security interest and security entitlement to Custodian contained in Section 1 of Article V hereof, free of any right of redemption or prior claim of any other person or entity, such pledge and such grants shall have a
first priority subject to no setoffs, counterclaims, or other liens or grants prior to or on a parity therewith, and it shall take such additional steps as Custodian may require to assure such priority. 

3. Custodian hereby represents and warrants, which representations and warranties shall be continuing, that: 

(a) It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now
conducted, to enter into this Agreement, and to perform its obligations hereunder; 
 (b) This Agreement has been duly authorized, executed
and delivered by Custodian, constitutes a valid and legally binding obligation of Custodian, enforceable in accordance with its terms, and there is no statute, regulation, rule, order or judgment binding on it, and no provision of its charter or by-laws, nor of any mortgage, indenture, credit agreement or other contract binding on it or affecting its property, which would prohibit its execution or performance of this Agreement; 

(c) It has, and will maintain, such backup, contingency and disaster recovery procedures as are required by its regulators; and 

(d) It is conducting its business in substantial compliance with all applicable laws and requirements, both state and federal, and has
obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted. 

  
 - 3 - 

 ARTICLE III 

CUSTODY AND RELATED SERVICES 

1. Subject to the terms hereof, the Trust hereby authorizes Custodian to hold any Cash received by it from time to time for the Trust’s
Account. 
 2. Custodian shall furnish the Trust with an advice of daily transactions as promptly as practicable in its ordinary course
processing, after the close of Business on each Business Day and a monthly summary of all transfers to or from the Account as promptly as practicable in its ordinary course processing, following such month end. Custodian shall furnish such reports
for such other time periods as the Trust may from time to time reasonably request. 
 3. With respect to all Cash held hereunder, Custodian
shall, unless otherwise instructed to the contrary: 
 (a) Receive all income and other payments and advise the Trust as promptly as
practicable of any such amounts due but not paid; and 
 (b) Endorse for collection checks, drafts or other negotiable instruments. 

4. Custodian shall not under any circumstances accept bearer interest coupons which have been stripped from United States federal, state or
local government or agency securities unless explicitly agreed to by Custodian in writing. 
 5. The Trust shall be liable for all taxes,
assessments, duties and other governmental charges, including any interest or penalty with respect thereto (“Taxes”), with respect to any cash held on behalf of the Trust or any transaction related thereto. The Trust shall indemnify
Custodian for the amount of any Tax that Custodian or any withholding agent is required under applicable laws (whether by assessment or otherwise) to pay on behalf of, or in respect of income earned by or payments or distributions made to or for the
account of the Trust (including any payment of Tax required by reason of an earlier failure to withhold). Custodian shall, or shall instruct the applicable withholding agent to, withhold the amount of any Tax which is required to be withheld under
applicable law upon collection of any dividend, interest or other distribution. In the event that Custodian is required under applicable law to pay any Tax on behalf of the Trust, Custodian is hereby authorized to withdraw cash from the Account only
in the amount required to pay such Tax and to use such cash, or to remit such cash to the appropriate withholding agent, for the timely payment of such Tax in the manner required by applicable law. If the aggregate amount of cash in all cash
accounts is not sufficient to pay such Tax, Custodian shall promptly notify the Trust of the additional amount of cash (in the appropriate currency) required, and the Trust shall directly deposit such additional amount in the Account promptly after
receipt of such notice, for use by Custodian as specified herein. In the event that Custodian reasonably believes that the Trust is eligible, pursuant to applicable law or to the provisions of any tax treaty, for a reduced rate of, or exemption
from, any Tax which is otherwise required to be withheld or paid on behalf of the Trust under any applicable law, Custodian shall, or shall instruct the applicable withholding agent to, either withhold or pay such Tax at such reduced rate or refrain
from withholding or paying such Tax, as appropriate; provided that Custodian shall have received from the Trust all documentary evidence of 

  
 - 4 - 

 
residence or other qualification for such reduced rate or exemption required to be received under such applicable law or treaty. In the event that Custodian reasonably believes that a reduced
rate of, or exemption from, any Tax is obtainable only by means of an application for refund, Custodian shall have no responsibility for the accuracy or validity of any forms or documentation provided by the Trust to Custodian hereunder. The Trust
hereby agrees to indemnify and hold harmless Custodian in respect of any liability arising from any underwithholding or underpayment of any Tax which results from the inaccuracy or invalidity of any such forms or other documentation, and such
obligation to indemnify shall be a continuing obligation of the Trust, its successors and assigns notwithstanding the termination of this Agreement. 

6. (a) For the purpose of settling foreign exchange transactions, the Trust shall provide Custodian with sufficient immediately available
funds for all transactions by such time and date as conditions in the relevant market dictate. As used herein, “sufficient immediately available funds” shall mean either (i) sufficient cash denominated in U.S. dollars to purchase the
necessary foreign currency, or (ii) sufficient applicable foreign currency, to settle the transaction. Custodian shall provide the Trust with immediately available funds each day which result from the actual settlement of all sale transactions,
based upon advices received by Custodian. Such funds shall be in U.S. dollars or such other currency as the Trust may specify to Custodian. 

(b) Any foreign exchange transaction effected by Custodian in connection with this Agreement may be entered with Custodian or a Custodian
Affiliate acting as principal or otherwise through customary banking channels. The Trust may issue a standing Certificate or Instructions with respect to foreign exchange transactions, but Custodian may establish rules or limitations concerning any
foreign exchange facility made available to the Trust. The Trust shall bear all risks of holding cash denominated in a foreign currency. 

(c) To the extent that Custodian has agreed to provide pricing or other information services in connection with this Agreement, Custodian is
authorized to utilize any vendor reasonably believed by Custodian to be reliable to provide such information. The Trust understands that certain pricing information with respect to complex financial instruments (e.g., derivatives) may be
based on calculated amounts rather than actual market transactions and may not reflect actual market values, and that the variance between such calculated amounts and actual market values may or may not be material. Where vendors do not provide
information for certain property, an Authorized Person may advise Custodian in a Certificate regarding the fair market value of, or provide other information with respect to, such property as determined by it in good faith. Custodian shall not be
liable for any loss, damage or expense incurred as a result of errors or omissions with respect to any pricing or other information utilized by Custodian hereunder. 

ARTICLE IV 
 OVERDRAFTS
OR INDEBTEDNESS 
 1. If Custodian should in its sole discretion advance funds on behalf of the Trust which results in an overdraft
(including, without limitation, any day-light overdraft) because the Cash held by Custodian in the Account shall be insufficient because of a reversal of a conditional credit or the purchase of any currency,
or if the Trust is for any other reason indebted to 

  
 - 5 - 

 
Custodian, such overdraft or indebtedness shall be deemed to be a loan made by Custodian to the Trust payable on demand and shall bear interest from the date incurred at a rate per annum
ordinarily charged by Custodian to its institutional customers, as such rate may be adjusted from time to time. In addition, the Trust hereby agrees that Custodian shall to the maximum extent permitted by law have a continuing lien, security
interest, and security entitlement in and to any property, including, without limitation, any investment property or any financial asset, of the Trust at any time held by Custodian for the benefit of the Trust or in which the Trust may have an
interest which is then in Custodian’s possession or control or in possession or control of any third party acting in Custodian’s behalf. The Trust authorizes Custodian, in its sole discretion, at any time to charge any such overdraft
or indebtedness together with interest due thereon against any balance of account standing to the Trust’s credit on Custodian’s books. 

2. If the Trust borrows money from any bank (including Custodian if the borrowing is pursuant to a separate agreement) for investment or for
temporary or emergency purposes using Cash held by Custodian hereunder as collateral for such borrowings, the Trust shall deliver to Custodian a Certificate specifying with respect to each such borrowing: (a) the name of the bank, (b) the
amount of the borrowing, (c) the time and date, if known, on which the loan is to be entered into, (d) the total amount payable to the Trust on the borrowing date, (e) the Cash to be delivered as collateral for such loan, and
(f) a statement specifying whether such loan is for investment purposes or for temporary or emergency purposes and that such loan is in conformance with the Trust’s prospectus. Custodian shall deliver on the borrowing date specified in a
Certificate the specified collateral against payment by the lending bank of the total amount of the loan payable, provided that the same conforms to the total amount payable as set forth in the Certificate. Custodian may, at the option of the
lending bank, keep such collateral in its possession, but such collateral shall be subject to all rights therein given the lending bank by virtue of any promissory note or loan agreement. Custodian shall deliver such Cash as additional collateral as
may be specified in a Certificate to collateralize further any transaction described in this Section. The Trust shall cause all Cash released from collateral status to be returned directly to Custodian, and Custodian shall receive from time to time
such return of collateral as may be tendered to it. In the event that the Trust fails to specify in a Certificate the Series, or the principal amount of any Cash to be delivered as collateral by Custodian, Custodian shall not be under any
obligation to deliver Cash. 
 ARTICLE V 

SALE AND REDEMPTION OF SHARES 

1. Whenever the Trust shall sell any shares issued by the Trust (“Shares”) it shall deliver to Custodian a Certificate or
Instructions, or cause the Trust’s Transfer Agent to provide instructions, specifying the amount of Cash, if any, to be received by Custodian in connection with the sale of such Shares and specifically allocated to the Account. Upon receipt of
such Cash, if any, Custodian shall credit the Account for which such Cash, if any, is received. 
 2. Whenever the Trust desires Custodian
to make a payment, if any, out of Cash held by Custodian hereunder in connection with a redemption of any Shares, it shall furnish to Custodian a Certificate or Instructions, or cause the Trust’s Transfer Agent to provide instructions
specifying the total amount of Cash, if any, to be paid, for the redemption of such 

  
 - 6 - 

 
Shares. Custodian shall make any such payment and such delivery of Shares, as directed by a Certificate or Instructions or instructions of the Trust’s transfer agent, out of the Cash held in
the Account. 
 ARTICLE VI 

PAYMENT OF DIVIDENDS OR DISTRIBUTIONS 

1. Whenever the Trust shall determine to pay a dividend or distribution on Shares it shall furnish to Custodian Instructions or a Certificate
setting forth with respect to the Trust the date of the declaration of such dividend or distribution, the total amount payable, and the payment date. 

2. Upon the payment date specified in such Instructions or Certificate, Custodian shall pay out of the Cash held in the Account the total
amount payable to the dividend agent of the Trust specified therein. 
 ARTICLE VII 

CONCERNING CUSTODIAN 
 1.
(a) Custodian shall exercise reasonable care and diligence in carrying out all of its duties and obligations under this Agreement. Except as otherwise expressly provided herein, Custodian shall not be liable for any costs, expenses, damages,
liabilities or claims, including attorneys’ and accountants’ fees (collectively, “Losses”), incurred by or asserted against the Trust, except those Losses arising out of Custodian’s own negligence, bad faith, willful
misfeasance, or reckless disregard of its duties hereunder. In no event shall the Custodian be liable to the Trust or any third party for special, indirect or consequential damages, or lost profits or loss of business, arising in connection with
this Agreement. The Custodian shall not be liable: (i) for acting in accordance with any Certificate or Oral Instructions actually received by Custodian and reasonably believed by Custodian to be given by an Authorized Person; (ii) for
acting in accordance with such Instructions without reviewing the same; (iii) for conclusively presuming that all Instructions are given only by person(s) duly authorized; (iv) for conclusively presuming that all disbursements of cash
directed by the Trust, whether by a Certificate, an Oral Instruction, or an Instruction, are in accordance with the applicable provisions of this Agreement; (v) for holding property in any particular country, including, but not limited to,
Losses resulting from nationalization, expropriation or other governmental actions; regulation of the banking or securities industry; exchange or currency controls or restrictions, devaluations or fluctuations; availability of cash market conditions
which prevent the transfer of property or affect the value of property; (vi) for any Losses due to forces beyond the control of Custodian, including without limitation strikes, work stoppages, acts of war or terrorism, insurrection, revolution,
nuclear or natural catastrophes or acts of God, or interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; (vii) for any Losses arising from the applicability of any law or regulation now
or hereafter in effect, or from the occurrence of any event, including, without limitation, implementation or adoption of any rules or procedures which may affect, limit, prevent or impose costs or burdens on, the transferability, convertibility, or
availability of any currency in any country, and in no event shall Custodian be obligated to substitute another currency for a currency whose transferability, convertibility or availability has been affected, limited, or prevented by such law,
regulation or event, and to the 

  
 - 7 - 

 
extent that any such law, regulation or event imposes a cost or charge upon Custodian in relation to the transferability, convertibility, or availability of any currency, such cost or charge
shall be for the Account, and Custodian may treat any account denominated in an affected currency as a group of separate accounts denominated in the relevant component currencies. 

(b) Custodian may enter into subcontracts, agreements and understandings with any Custodian Affiliate, whenever and on such terms and
conditions as it deems necessary or appropriate to perform its services hereunder. No such subcontract, agreement or understanding shall discharge Custodian from its obligations hereunder, and Custodian shall be liable for the acts or omissions of
any such Custodian Affiliate to the same extent as it is liable for such acts or omissions under this Agreement. 
 (c) The Trust agrees to
indemnify Custodian and hold Custodian harmless from and against any and all Losses sustained or incurred by or asserted against Custodian by reason of or as a result of any action or inaction, or arising out of Custodian’s performance
hereunder, including reasonable fees and expenses of counsel incurred by Custodian in a successful defense of claims by the Trust; provided however, that the Trust shall not indemnify Custodian for those Losses arising out of Custodian’s own
negligence, bad faith, willful misfeasance, reckless disregard for its duties hereunder. This indemnity shall be a continuing obligation of the Trust, its successors and assigns, notwithstanding the termination of this Agreement. 

2. Without limiting the generality of the foregoing, Custodian shall be under no obligation to inquire into, and shall not be liable for: 

(a) The legality of the sale or redemption of any Shares, or the propriety of the amount to be received or paid therefor; 

(b) The legality of the declaration or payment of any dividend or distribution by the Trust; 

(c) The legality of any borrowing by the Trust; 

(d) The sufficiency or value of any amounts of Cash held in any Special Account in connection with transactions by the Trust; whether any
broker, dealer, futures commission merchant or clearing member makes payment to the Trust of any variation margin payment or similar payment which the Trust may be entitled to receive from such broker, dealer, futures commission merchant or clearing
member, or whether any payment received by Custodian from any broker, dealer, futures commission merchant or clearing member is the amount the Trust is entitled to receive, or to notify the Trust of Custodian’s receipt or non-receipt of any such payment; or 
 (e) Whether any transactions by the Trust, whether or not involving
Custodian, are such transactions as may properly be engaged in by the Trust. 
 3. Custodian may, with respect to questions of law
specifically regarding the Account, obtain the advice of counsel and shall be fully protected with respect to anything done or omitted by it provided that Custodian acts in good faith without negligence or willful misfeasance in carrying out such
advice. 

  
 - 8 - 

 4. Custodian shall have no duty or responsibility to inquire into, make recommendations,
supervise, or determine the suitability of any transactions affecting the Account. 
 5. The Trust shall pay to Custodian the fees and
charges as may be specifically agreed upon from time to time and such other fees and charges at Custodian’s standard rates for such services as may be applicable. The Trust shall reimburse Custodian for all costs associated with the transfer of
records kept in connection with this Agreement upon termination of the Agreement. The Trust shall also reimburse Custodian for out-of-pocket expenses which are a normal
incident of the services provided hereunder. 
 6. Custodian has the right to debit any cash account for any amount payable by the Trust in
connection with any and all obligations of the Trust to Custodian. In addition to the rights of Custodian under applicable law and other agreements, at any time when the Trust shall not have honored any of its obligations to Custodian, Custodian
shall have the right without notice to the Trust to retain or set-off, against such obligations of the Trust, any cash Custodian or a Custodian Affiliate may directly or indirectly hold for the account of the
Trust, and any obligations (whether matured or unmatured) that Custodian or a Custodian Affiliate may have to the Trust. Any such asset of, or obligation to, the Trust may be transferred to Custodian and any Custodian Affiliate in order to effect
the above rights. 
 7. The Trust agrees to forward to Custodian a Certificate or Instructions confirming Oral Instructions by the close of
business of the same day that such Oral Instructions are given to Custodian. The Trust agrees that the fact that such confirming Certificate or Instructions are not received or that a contrary Certificate or contrary Instructions are received by
Custodian shall in no way affect the validity or enforceability of transactions authorized by such Oral Instructions and effected by Custodian. If the Trust elects to transmit Instructions through an on-line
communications system offered by Custodian, the Trust’s use thereof shall be subject to the Terms and Conditions attached as Appendix I hereto. If Custodian receives Instructions which appear on their face to have been transmitted by an
Authorized Person via (i) computer facsimile, email, the Internet or other insecure electronic method, or (ii) secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys, the Trust
understands and agrees that Custodian cannot determine the identity of the actual sender of such Instructions and that Custodian shall conclusively presume that such Written Instructions have been sent by an Authorized Person, and the Trust shall be
responsible for ensuring that only Authorized Persons transmit such Instructions to Custodian. If the Trust elects (with Custodian’s prior consent) to transmit Instructions through an on-line
communications service owned or operated by a third party, the Trust agrees that Custodian shall not be responsible or liable for the reliability or availability of any such service. 

8. The books and records pertaining to the Trust which are in possession of Custodian shall be the property of the Trust. Such books and
records shall be prepared and maintained as described in the Investment Company Act of 1940 and the rules thereunder, as if the Trust was subject to such rules. The Trust, or its authorized representatives, shall have access to such books

  
 - 9 - 

 
and records during Custodian’s normal business hours. Upon the reasonable request of the Trust, copies of any such books and records shall be provided by Custodian to the Trust or its
authorized representative. Upon the reasonable request of the Trust, Custodian shall provide in hard copy or on computer disc any records included in any such delivery which are maintained by Custodian on a computer disc, or are similarly
maintained. 
 9. It is understood that Custodian is authorized to supply any information regarding the Accounts which is required by any
law, regulation or rule now or hereafter in effect. The Custodian shall provide the Trust with such reports on its own system of internal accounting control as the Trust may reasonably request from time to time. 

10. Custodian shall have no duties or responsibilities whatsoever except such duties and responsibilities as are specifically set forth in
this Agreement, and no covenant or obligation shall be implied against Custodian in connection with this Agreement, except as set forth in this Agreement. 

ARTICLE VIII 

TERMINATION 
 1. The term
of this Agreement shall be one year commencing upon the date hereof and shall automatically renew for additional one-year terms unless either party provides written notice of termination at least ninety
(90) days prior to the end of any one year term or, unless earlier terminated as provided in Section 3 of this Article VIII. In the event such notice is given by the Trust, it shall be accompanied by a copy of a resolution of board of
the Trust, certified by the Secretary or any assistant Secretary, electing to terminate this Agreement and designating a successor custodian or custodians, each of which shall be a bank or trust company having not less than $2,000,000 aggregate
capital, surplus and undivided profits. In the event such notice is given by Custodian, the Trust shall, on or before the termination date, deliver to Custodian a copy of a resolution of the board of the Trust, certified by the Secretary or any
assistant Secretary, designating a successor custodian or custodians. In the absence of such designation by the Trust, Custodian may designate a successor custodian which shall be a bank or trust company having not less than $2,000,000
aggregate capital, surplus and undivided profits. Upon the date set forth in such notice this Agreement shall terminate, and Custodian shall upon receipt of a notice of acceptance by the successor custodian on that date deliver directly to the
successor custodian all Cash then owned by the Trust and held by it as Custodian, after deducting all fees, expenses and other amounts for the payment or reimbursement of which it shall then be entitled. 

2. If a successor custodian is not designated by the Trust or Custodian in accordance with the preceding Section, the Trust shall upon the
date specified in the notice of termination of this Agreement and upon the delivery by Custodian of all Cash then owned by the Trust be deemed to be its own custodian and Custodian shall thereby be relieved of all duties and responsibilities
pursuant to this Agreement. 
 3. Notwithstanding Section 1 of this Article VIII, either party hereto may terminate this Agreement
immediately by sending notice thereof to the other party upon the happening of any of the following: (i) a party breaches any material provision of this Agreement, provided that the non-breaching party
gives written notice of such breach to the breaching party and the breaching 

  
 - 10 - 

 
party does not cure such violation within 90 days of receipt of such notice; (ii) a party commences as debtor any case or proceeding under any bankruptcy, insolvency or similar law, or there
is commenced against such party any such case or proceeding; (iii) a party commences as debtor any case or proceeding seeking the appointment of a receiver, conservator, trustee, custodian or similar official for such party or any substantial
part of its property or there is commenced against the party any such case or proceeding; (iv) a party makes a general assignment for the benefit of creditors; or (v) a party states in any medium, written, electronic or otherwise, any
public communication or in any other public manner its inability to pay debts as they come due. Either party hereto may exercise its termination right under this Section 3 of this Article VIII at any time after the occurrence of any of the
foregoing events notwithstanding that such event may cease to be continuing prior to such exercise, and any delay in exercising this right shall not be construed as a waiver or other extinguishment of that right. 

ARTICLE IX 

MISCELLANEOUS 
 1. The
Trust agrees to furnish to Custodian a new Certificate of Authorized Persons in the event of any change in the then present Authorized Persons. Until such new Certificate is received, Custodian shall be fully protected in acting upon Certificates or
Oral Instructions of such present Authorized Persons. 
 2. Any notice or other instrument in writing, authorized or required by this
Agreement to be given to Custodian, shall be sufficiently given if addressed to Custodian and received by it at its offices at 225 Liberty Street, New York, New York 10286, or at such other place as Custodian may from time to time designate in
writing. 
 3. Any notice or other instrument in writing, authorized or required by this Agreement to be given to the Trust shall be
sufficiently given if addressed to the Trust and received by it at its offices at 200 Park Avenue, New York, New York 10166, United States of America, or at such other place as the Trust may from time to time designate in writing. 

4. Each and every right granted to either party hereunder or under any other document delivered hereunder or in connection herewith, or
allowed it by law or equity, shall be cumulative and may be exercised from time to time. No failure on the part of either party to exercise, and no delay in exercising, any right will operate as a waiver thereof, nor will any single or partial
exercise by either party of any right preclude any other or future exercise thereof or the exercise of any other right. 
 5. In case any
provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any exclusive jurisdiction, the validity, legality and enforceability of the remaining provisions shall not in any way be affected thereby. This Agreement
may not be amended or modified in any manner except by a written agreement executed by both parties, except that any amendment to the Schedule I hereto need be signed only by the Trust and any amendment to Appendix I hereto need be signed only by
Custodian. This Agreement shall extend to and shall be binding upon the parties hereto, and their respective successors and assigns; provided, however, that this Agreement shall not be assignable by either party without the written consent of the
other. 

  
 - 11 - 

 6. This Agreement shall be construed in accordance with the substantive laws of the State of New
York, without regard to conflicts of laws principles thereof. The Trust and Custodian hereby consent to the jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute arising hereunder. The Trust
hereby irrevocably waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any such proceeding brought in such a court and any claim that such proceeding brought in such a
court has been brought in an inconvenient forum. The Trust and Custodian each hereby irrevocably waives any and all rights to trial by jury in any legal proceeding arising out of or relating to this Agreement. 

7. The Trust hereby acknowledges that Custodian is subject to federal laws, including the Customer Identification Program (CIP) requirements
under the USA PATRIOT Act and its implementing regulations, pursuant to which Custodian must obtain, verify and record information that allows Custodian to identify the Trust. Accordingly, prior to opening an Account hereunder Custodian will ask the
Trust to provide certain information including, but not limited to, the Trust’s name, physical address, tax identification number and other information that will help Custodian to identify and verify the Trust’s identity such as
organizational documents, certificate of good standing, license to do business, or other pertinent identifying information. The Trust agrees that Custodian cannot open an Account hereunder unless and until Custodian verifies the Trust’s
identity in accordance with its CIP. 
 8. The Bank of New York Mellon Corporation is a global financial organization that provides services
to clients through its affiliates and subsidiaries in multiple jurisdictions (the “BNY Mellon Group”). The BNY Mellon Group may centralize functions including audit, accounting, risk, legal, compliance, sales, administration, product
communication, relationship management, storage, compilation and analysis of customer-related data, and other functions (the “Centralized Functions”) in one or more affiliates, subsidiaries and third-party service providers. Solely in
connection with the Centralized Functions, (i) the Trust consents to the disclosure of and authorizes Custodian to disclose information regarding the Trust (“Customer-Related Data”) to the BNY Mellon Group and to its third-party
service providers who are subject to confidentiality obligations with respect to such information and (ii) Custodian may store the names and business contact information of the Trust’s employees and representatives on the systems or in the
records of the BNY Mellon Group or its service providers. The BNY Mellon Group may aggregate Customer-Related Data with other data collected and/or calculated by the BNY Mellon Group, and notwithstanding anything in this Agreement to the contrary
the BNY Mellon Group will own all such aggregated data, provided that the BNY Mellon Group shall not distribute the aggregated data in a format that identifies Customer-Related Data with a particular customer. The Trust confirms that it is
authorized to consent to the foregoing. 
 9. This Agreement may be executed in any number of counterparts, each of which shall be deemed to
be an original, but such counterparts shall, together, constitute only one instrument. 

  
 - 12 - 

 IN WITNESS WHEREOF, the Trust and Custodian have caused this Agreement to be executed by
their respective officers, thereunto duly authorized, as of the latest date set forth below. 
  

			
	SOLIDX BITCOIN TRUST
		
	By:	 	  

	
	Title:
	
	Tax Identification No:
	
	Date:
	
	THE BANK OF NEW YORK MELLON
		
	By:	 	  

	
	Title:
	
	Date:

  
 - 13 - 

 

 
 SCHEDULE I 

CERTIFICATE OF AUTHORIZED PERSONS 

(The Trust - Oral and Written Instructions) 

The undersigned hereby certifies that he is the duly elected and acting [TITLE]of the SolidX Bitcoin Trust (the “Trust”), and
further certifies that the following officers or employees of the Trust have been duly authorized in conformity with the Trust’s Declaration of Trust and By Laws to deliver Certificates and Oral Instructions to The Bank of New York Mellon
(“Custodian”) pursuant to the Custody Agreement between the Trust and Custodian dated December    , 2016 and that the signatures appearing opposite their names are true and correct: 

					
			
	  
	  	  
	 	  

	Name	  	Title	 	Signature
			
	  
	  	  
	 	  

	Name	  	Title	 	Signature
			
	  
	  		 	  

	Name	  	Title	 	Signature
			
	  
	  	  
	 	  

	Name	  	Title	 	Signature
			
	  
	  	  
	 	  

	Name	  	Title	 	Signature
			
	  
	  	  
	 	  

	Name	  	Title	 	Signature
			
	  
	  	  
	 	  

	Name	  	Title	 	Signature

 This certificate supersedes any certificate of Authorized Persons you may currently have on file. 

 

			
	 By:
	 	  

		 	Title: COO
		
		 	Date:

  

 APPENDIX I 

ELECTRONIC SERVICES TERMS AND CONDITIONS 

These Electronic Access Terms and Conditions (the “Terms and Conditions”) set forth the terms and conditions under which The Bank of
New York Mellon Corporation and/or its subsidiaries or joint ventures (collectively, “BNY Mellon”) will provide the entities and its (their) affiliates listed on Schedule A (“You” and “Your”)
with access to and use of BNY Mellon’s electronic information delivery site known as “BNY Mellon Connect” and/or other BNY Mellon-designated access portals (“Electronic Access”). Access to and use of Electronic
Access by You is contingent upon and is in consideration for Your compliance with the terms and conditions set forth below. Electronic Access includes access to BNY Mellon web sites accessible via BNY Mellon Connect and/or other BNY
Mellon-designated access portals (“Sites”), pursuant to which You are able to access products and services provided by BNY Mellon as well as data regarding Your accounts. You may amend Schedule A by delivering a revised
version to BNY Mellon. 
 Any particular product or service accessed by You through Electronic Access may be subject to a separate written agreement between
You and BNY Mellon with respect to such products and services (each a “Services Agreement”). In addition, terms and conditions and restrictions with respect to any particular product or service accessed through Electronic
Access (such as privacy and internet security matters), together with any disclaimers related to the specific products or services, may be set forth on the Sites (hereinafter referred to as “Terms of Use”) and are applicable to such
products and services. You agree to the Terms and Conditions. By any of Your Users accessing the Sites, and the products and services available through Electronic Access, You agree to any Terms of Use and acknowledge and accept any disclaimers and
disclosures included on the Sites and the restrictions concerning the use of proprietary data provided by Information Providers (as defined below) that are posted on the Data Terms Web Site (as defined below). For the avoidance of doubt, the
execution of these Terms and Conditions will not alter or amend or otherwise affect any Services Agreement whether such Services Agreement is executed prior to or after the execution of these Terms and Conditions. 

 

	1.	Access Administration: 

  

	 	a.	To facilitate access to Electronic Access, You will furnish BNY Mellon with a written list of the names, and the extent of authority or level of access, of persons You are authorizing to access the Sites, products and
services and to use the Electronic Access (“Authorized Users”) on a read-only basis. In addition, You may also designate Authorized Users who will have authority to enter transactions and provide instructions to BNY Mellon
that cause a change in or have an impact on assets held by BNY Mellon for Your accounts (“Authorized Transactional Users”). Where appropriate, Authorized Users and Authorized Transactional Users are collectively referred to
herein as “Users.” If You wish to allow any third party (such as an investment manager, consultant or third party service provider) or any employee of a third party to have access to Your account information through
Electronic Access and be included as a “User” under these Terms and Conditions, You may designate a third party or employee of a third party as an Authorized User or Authorized Transactional User under these Terms and Conditions and any
such third party or employee of a third party so designated by You (and, if a third party is so designated, any employee of such third party designated by such third party) will be included within the definition of Authorized User, Authorized
Transactional User, and User as appropriate. 

  

	 	b.	Upon BNY Mellon’s approval of Users (which approval will not be unreasonably withheld), BNY Mellon will send You a user-id, temporary password and, where applicable, a
security identification device for each User. You will be responsible for providing to Users the user-ids, temporary passwords and, where applicable, secure identification devices. You will ensure that any
User receiving a secure identification device returns such device immediately following the termination of the User’s authorization to access the products and services for which the secure identification device was provided to such User. You
are solely responsible for Users’ access to Electronic Access, and You and Users are solely responsible for the confidentiality of the user-ids and passwords and secure identification devices that are
provided to them and will remain responsible for each secure identification device until it is returned to BNY Mellon. You, on behalf of You and Your affiliates, acknowledge and agree that, BNY Mellon will have no duty or obligation to verify or
confirm the actual identity of the person who accessed Electronic Access using a validly issued user-id and password (and, where applicable, security identification device) or that the person who accessed
Electronic Access using such validly issued user-id and password (and, where applicable, security identification device) is, in fact, a User (whether an Authorized User or an Authorized Transactional User).

  

	 	c.	You shall not, and shall not permit any User or third party to, breach or attempt to breach any security measures used in connection with Electronic Access or Proprietary Software. Any attempt to circumvent or penetrate
any application, network or other security measures used by BNY Mellon or its suppliers in connection with Electronic Access is strictly prohibited. 

  

	 	d.	You are also solely responsible for ensuring that all Users comply with these Terms and Conditions and any Terms of Use included on the Sites, the Service Agreement for each product or services accessed through the
Sites and their associated services and all applicable terms and conditions, restrictions on the use of such products and services and data obtained through the use of Electronic Access. BNY Mellon reserves the right to prohibit access or revoke the
access of any User to Electronic Access whom BNY Mellon determines has violated or breached these terms and conditions or any Terms of Use on a Site accessed by the User, including the Data Terms Web Site (as defined below), or whose conduct BNY
Mellon reasonably determines may constitute a criminal offense, violate any applicable local, state, national, or international law or constitute a security risk for BNY Mellon, a BNY Mellon’s third party supplier (“BNY Mellon’s
Supplier”), BNY Mellon’s clients or any Users of Electronic Access. BNY Mellon may also terminate access to all Users following termination of all Services Agreements between You and BNY Mellon. 

 

	2.	Proprietary Software: Depending upon the products and services You elect to access through Electronic Access, You may be provided software owned by BNY Mellon or licensed to BNY Mellon by a BNY
Mellon Supplier (“Proprietary Software”). You are granted a limited, non-exclusive, non-transferable license to install the Proprietary Software
on Your authorized computer system (including mobile devices registered with BNY Mellon) and to use the Proprietary Software solely for Your own internal purposes in connection with Electronic Access and solely for the purposes for which it is
provided to You. You and Your Users may make copies of the Proprietary Software for backup purposes only, provided all copyright and other proprietary information included in the original copy of the Proprietary Software are reproduced in or on such
backup copies. You shall not reverse engineer, disassemble, decompile or attempt to determine the source code for, any Proprietary Software. Any attempt to circumvent or penetrate security of Electronic Access is strictly prohibited.

  

	3.	Use of Data: 

  

	 	a.	Electronic Access may include information and data that is proprietary to the providers of such information or data (“Information Providers”) or may be used to access Sites that include such
information or data from Information Providers. This information and data may be subject to restrictions and requirements which are imposed on BNY Mellon by the Information Providers and which are posted on
http://www.bnymellon.com/products/assetservicing/vendoragreement.pdf or any successor web site of which You are provided notice from time to time (the “Data Terms Web Site”). You will be solely responsible for ensuring that
Users comply with the restrictions and requirements concerning the use of proprietary data that are posted on the Data Terms Web Site. 

  

	 	b.	You consent to BNY Mellon, its affiliates and BNY Mellon’s Suppliers disclosing to each other and using data received from You and Users and, where applicable, Your third parties in connection with these Terms and
Conditions (including, without limitation, client data and personal data of Users) (1) to the extent necessary for the provision of Electronic Access; (2) in order for BNY Mellon and its affiliates to meet any of their obligations under
these Terms and Conditions to provide Electronic Access; or (3) to the extent necessary for Users to access Electronic Access. 

  

	 	c.	In addition, You permit BNY Mellon to aggregate data concerning Your accounts with other data collected and/or calculated by BNY Mellon. BNY Mellon will own such aggregated data, but will not distribute the aggregated
data in a format that identifies You or Your data. 

  

	4.	Ownership and Rights: 

  

	 	a.	Electronic Access, including any database, any software (including for the avoidance of doubt, Proprietary Software) and any proprietary data, processes, scripts, information, training materials, manuals or
documentation made available as part of the Electronic Access (collectively, the “Information”), are the exclusive and confidential property of BNY Mellon and/or BNY Mellon’s suppliers. You may not use or disclose the
Information except as expressly authorized by these Terms and Conditions. You will, and will cause Users and Your third parties and their users, to keep the Information confidential by using the same care and discretion that You use with respect to
Your own confidential information, but in no event less than reasonable care. 

  

	 	b.	The provisions of this paragraph will not affect the copyright status of any of the Information which may be copyrighted and will apply to all Information whether or not copyrighted. 

 

	 	c.	Nothing in these Terms and Conditions will be construed as giving You or Users any license or right to use the trade marks, logos and/or service marks of BNY Mellon, its affiliates, its Information Providers or BNY
Mellon’s Suppliers. 

  

	 	d.	Any Intellectual Property Rights and any other rights or title not expressly granted to You or Users under these Terms and Conditions are reserved to BNY Mellon, its Information Providers and BNY Mellon’s
Suppliers. “Intellectual Property Rights” includes all copyright, patents, trademarks and service marks, rights in designs, moral rights, rights in computer software, rights in databases and other protectable lists of information, rights
in confidential information, trade secrets, inventions and know-how, trade and business names, domain names (including all extensions, revivals and renewals, where relevant) in each case whether registered or
unregistered and applications for any of them and the goodwill attaching to any of them and any rights or forms of protection of a similar nature and having equivalent or similar effect to any of them which may subsist anywhere in the world.

  

	5.	Reliance: 

  

	 	a.	BNY Mellon will be entitled to rely on, and will be fully protected in acting upon, any actions or instructions associated with a user-id or a secure identification device issued
to a User until such time BNY Mellon receives actual notice in writing from You of the change in status of the User and receipt of the secure identification device issued to such User. You acknowledge that all commands, directions and instructions,
including commands, directions and instructions for transactions issued by a User are issued at Your sole risk. You agree to accept full and sole responsibility for all such commands, directions and instructions and that BNY Mellon, will have no
liability for, and you hereby release BNY Mellon from, any losses, liabilities, damages, costs, expenses, claims, causes of action or judgments (including attorneys fees and expenses) (collectively “Losses”) incurred or
sustained by you or any other party in connection with or as a result of BNY Mellon’s reliance upon or compliance with such commands, directions and instructions. 

 

	 	b.	All commands, directions and instructions involving a transaction entered by Authorized Transactional User will be treated as an authorized instruction under the applicable Services Agreement(s) between You and BNY
Mellon covering accounts, products and services and products provided by BNY Mellon with respect to which Electronic Access is being used whether such Services Agreement is executed prior to or after the execution of these Terms and Conditions.

  

	6.	Disclaimers: 

  

	 	a.	Although BNY Mellon uses reasonable efforts to provide accurate and up-to-date information through Electronic Access, BNY Mellon, its
Content Providers and Information Providers make no warranties or representations under these Terms and Conditions as to accuracy, reliability or comprehensiveness of the content, information or data accessed through Electronic Access. Without
limiting the foregoing, some of the content on Electronic Access may be provided by sources unaffiliated with BNY Mellon (“Content Providers”) and by Information Providers. For that content BNY Mellon is a distributor and not
a publisher of such content and has no control over it. Information provided by Information Providers has not been independently verified by BNY Mellon and BNY Mellon makes no representation as to the accuracy or completeness of the content or
information provided. Any opinions, advice, statements, services, offers or other information given or provided by Content Providers and Information Providers (including merchants and licensors) are those of the respective authors of such content
and not that of BNY Mellon. BNY Mellon will not be liable to You or Users for such content or information in any way nor for any action taken in reliance on such information nor for direct or indirect damages resulting from the use of such
information. For purposes of these Terms and Conditions, all information and data, including all proprietary information and materials and all client data, provided to You through Electronic Access are provided on an
“AS-IS”, “AS AVAILABLE” basis. 

  

	 	b.	BNY Mellon makes no guarantee and does not warrant that Electronic Access or the information and data provided through the Electronic Access are or will be virus-free or will be free of viruses, worms, Trojan horses or
other code with contaminating or destructive properties. BNY Mellon will employ commercially reasonable anti-virus software to its systems to protect its systems against viruses. 

	 	c.	Some Sites accessed through the use of Electronic Access may include links to websites provided by parties that are not affiliated with BNY Mellon (“Third Party Websites”). BNY Mellon will not be
liable to any person for the content found on such Third Party Websites. BNY Mellon will not be responsible for Third Party Websites that collect information from parties who visit their web sites through links on the Sites. BNY Mellon will not be
liable or responsible for any loss suffered by any person as a result of their use of any Third Party Websites that are linked to the BNY Mellon Sites. 

  

	 	d.	BNY Mellon retains complete discretion and authority to add, delete or revise in whole or in part Electronic Access, including its Sites, and to modify from time to time any Proprietary Software provided in conjunction
with the use of Electronic Access and/or any of the Sites. To the extent reasonably possible, BNY Mellon will provide notice of such modifications. BNY Mellon may terminate, immediately and without advance notice, and without right of cure, any
portion or component of Electronic Access or the Sites. 

  

	 	e.	TO THE FULLEST EXTENT PERMITTED BY LAW, THERE IS NO WARRANTY OF MERCHANTABILITY, NO WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, NO WARRANTY OF QUALITY AND NO WARRANTY OF TITLE OR NONINFRINGEMENT. THERE IS NO OTHER
WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, REGARDING ELECTRONIC ACCESS, THE SITES, ANY PROPRIETARY SOFTWARE, INFORMATION, MATERIALS OR CLIENT DATA. 

  

	 	f.	Notwithstanding the prior paragraph, The Bank of New York Mellon or an Affiliate designated by it will defend You and pay any amounts agreed to by BNY Mellon in a settlement and damages finally awarded by a court of
competent jurisdiction, in an action or proceeding commenced against You based on a claim that Electronic Access or the Proprietary Software infringe plaintiff(s)’s patent, copyright, or trade secret, provided that You (i) notify BNY
Mellon promptly of any such action or claim (except that the failure to so notify BNY Mellon will not limit BNY Mellon’s obligations hereunder except to the extent that such failure prejudices BNY Mellon); (ii) grant BNY Mellon or its
designated Affiliate full and exclusive authority to defend, compromise or settle such claim or action; and (iii) provide BNY Mellon or its designated Affiliate all assistance reasonably necessary to so defend, compromise or settle. The
foregoing obligations will not apply, however, to any claim or action arising from (i) use of the Proprietary Software Information or Electronic Access in a manner not authorized under these Terms and Conditions, the Terms of Use, or the Data
Terms Web Site; or (ii) use of the Proprietary Software or Electronic Access in combination with other software or services not supplied by BNY Mellon. 

  

	7.	Limitation of Liability: 

  

	 	a.	IN NO EVENT WILL BNY MELLON, BNY MELLON’S SUPPLIERS OR ITS CONTENT PROVIDERS OR INFORMATION PROVIDERS BE LIABLE TO YOU OR ANYONE ELSE UNDER THESE TERMS AND CONDITIONS FOR ANY LOSSES, LIABILITIES, DAMAGES, COSTS OR
EXPENSES INCLUDING BUT NOT LIMITED TO, ANY DIRECT DAMAGES, CONSEQUENTIAL DAMAGES, RELIANCE DAMAGES, EXEMPLARY DAMAGES, INCIDENTAL DAMAGES, SPECIAL DAMAGES, PUNITIVE DAMAGES, INDIRECT DAMAGES OR DAMAGES FOR LOSS OF PROFITS, GOOD WILL, BUSINESS
INTERRUPTION, USE, DATA, EQUIPMENT OR OTHER INTANGIBLE LOSSES (EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES) THAT RESULT FROM (1) THE USE OF OR INABILITY TO USE ELECTRONIC ACCESS (2) THE CONSEQUENCES OF ANY DECISION MADE
OR ACTION OR NON-ACTION TAKEN BY YOU OR ANY OTHER PERSON, OR FOR ANY ERRORS BY YOU IN COMMUNICATING SUCH INFORMATION; (3) THE COST OF SUBSTITUTE ACCESS SERVICES; OR (4) ANY OTHER MATTER RELATING TO
THE CONTENT OR ACCESS THROUGH ELECTRONIC ACCESS. BNY MELLON WILL NOT BE LIABLE FOR LOSS, DAMAGE OR INJURY TO PERSONS OR PROPERTY ARISING FROM ANY USE OF ANY PRODUCT, INFORMATION, PROCEDURE, OR SERVICE OBTAINED THROUGH ELECTRONIC ACCESS. BNY MELLON
WILL NOT BE LIABLE FOR ANY LOSS, DAMAGE OR INJURY RESULTING FROM VOLUNTARY SHUTDOWN OF THE SERVER, ELECTRONIC ACCESS OR ANY OF THE SITES TO ADDRESS TECHNICAL PROBLEMS, COMPUTER VIRUSES,
DENIAL-OF-SERVICE MESSAGES OR OTHER SIMILAR PROBLEMS. 

  

	 	b.	 BNY MELLON’S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY UNDER THESE TERMS AND CONDITIONS FOR ANY DISPUTE OR
CLAIM RELATED TO THESE TERMS OF USE, ELECTRONIC ACCESS OR SITES, IS AS FOLLOWS: IF YOU REPORT A MATERIAL 

	 	
MALFUNCTION IN ELECTRONIC ACCESS THAT BNY MELLON IS ABLE TO REPRODUCE, BNY MELLON WILL USE REASONABLE EFFORTS TO CORRECT THE MALFUNCTION. IF BNY MELLON IS UNABLE TO CORRECT THE MALFUNCTION, YOU
MAY CEASE ALL USE OF ELECTRONIC ACCESS AND RECEIVE A REFUND OF ANY FEES PAID IN ADVANCE, SPECIFICALLY FOR ELECTRONIC ACCESS, APPLICABLE TO PERIODS AFTER CESSATION OF SUCH USE. BECAUSE SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF
LIABILITY FOR DAMAGES, IN SUCH JURISDICTIONS LIABILITY IS LIMITED TO THE FULLEST EXTENT PERMITTED BY LAW. 

  

	 	c.	The limitation of liability set forth in this Limitation of Liability section and in other provisions in these Terms and Conditions is in addition to any limitation of liability provisions contained in any Services
Agreements and will not supersede or be superseded by limitation of liability provisions contained in such Services Agreements, whether executed prior to or after the execution of these Terms and Conditions, except to the extent specifically set
forth in such other Services Agreements containing a reference to these Terms and Conditions. 

  

	8.	Indemnification: 

  

	 	a.	You agree to indemnify, protect and hold BNY Mellon, BNY Mellon’s Suppliers, Content Providers and Information Providers harmless from and against all liability, claims damages, costs and expenses, including
reasonable attorneys’ fees and expenses, resulting from a claim that arises out of (i) any breach by You or Users of these Terms and Conditions, the Terms of Use or the Data Terms Web Site and (ii) any person obtaining access to
Electronic Access through You or Users or through use of any password, user-id or secure identification device issued to a User, whether or not You or a User authorized such access. For the avoidance of doubt,
and by way of illustration and not by way of limitation, the forgoing indemnity is applicable to disputes between the parties, including the enforcement of these Terms and Conditions. The rights and remedies conferred hereunder will be cumulative
and the exercise or waiver of any such right or remedy will not preclude or inhibit the exercise of additional rights or remedies or the subsequent exercise of such right or remedy. 

 

	 	b.	The indemnity provided in herein is in addition to any indemnity and other remedies contained in any Services Agreements and will not supersede or be superseded by such Services Agreements, whether executed prior to or
after the execution of these Terms and Conditions, except to the extent specifically set forth in such other Services Agreements and expressly stating an intent to modify this Terms and Conditions. Nothing contained herein will, or be deemed to,
alter or modify the rights and remedies of BNY Mellon as set forth in the Services Agreements. 

  

	9.	Choice of Law and Forum: Unless otherwise agreed and specified herein, these Terms and Conditions are governed by and construed in accordance with the laws of the State of New York, without
giving effect to any principles of conflicts of law; You expressly and irrevocably agree that exclusive jurisdiction and venue for any claim or dispute with BNY Mellon, its employees, contractors, officers or directors or relating in any way to Your
use of Electronic Access resides in the state or federal courts in New York City, New York; and You further irrevocably agree and expressly and irrevocably consent to the exercise of personal jurisdiction in those courts over any action brought with
respect to these Terms and Conditions. BNY Mellon and You hereby waive the right of trial by jury in any action arising out of or related to the BNY Mellon or these Terms and Conditions. 

 

	10.	Term and Termination: 

  

	 	a.	Either BNY Mellon or You may terminate these Terms and Conditions and the Electronic Access upon thirty (30) days’ written notice to the other party. 

 

	 	b.	In the event of any breach of the provisions of these Terms and Conditions or a breach by any Authorized User of the Terms of Use or the restrictions and requirements concerning the use of Information Providers’
proprietary data that are posted on the Data Terms Web Site, the non-breaching party may terminate these Terms and Conditions and the Electronic Access immediately upon written notice to the breaching party if
any breach remains uncured after ten (10) days’ written notice of the breach is sent to the breaching party. 

  

	 	c.	BNY Mellon may immediately terminate access through an Authorized User’s user-id and password and may, at its discretion, also terminate access by an Authorized User, without
right of cure, in the event of an unauthorized use of an Authorized User’s user-id or password, or where BNY Mellon believes there is a security risk created by such access. 

	 	d.	BNY Mellon may terminate, without advance notice, Your access or the access of Users to any portion or component of Electronic Access or the Sites in the event a BNY Mellon Supplier, Content Provider or Information
Provider prohibits BNY Mellon from permitting You or Users to have access to their information or services. 

  

	 	e.	Promptly upon receiving or giving notice of termination, You will notify all Users of the effective date of the termination. 

  

	 	f.	Upon termination of Your access to Electronic Access, You shall return of manuals, documentation, workflow descriptions and the like that are in Your possession or under Your control and all security identification
devices. 

  

	 	g.	The Reliance, Disclaimers, Limitation of Liability Indemnification and confidentiality provisions of the Terms and Conditions (and other provision of these Terms and Conditions containing disclaimers, limitation of
liability and indemnification) shall survive the termination of these Terms and Conditions. 

 You represent and warrant to BNY Mellon that
these Terms and Conditions and the indemnity contained herein have been duly authorized and accepted, that You have full authority to enter into these Terms and Conditions, both for the entities at Schedule A and for any affiliate with Electronic
Access, and that these Terms and Conditions constitute a binding obligation enforceable in accordance with its terms. 

 SCHEDULE A to APPENDIX I 

Affiliates of Client 

SolidX Management LLCEX-10.(iv)

 

 
 Exhibit 10(iv) 

FORM OF 
 FUND
ADMINISTRATION AND ACCOUNTING AGREEMENT 
 THIS AGREEMENT is made as of December     , 2016 by and between
SolidX Bitcoin Trust (the “Trust”) and The Bank of New York Mellon, a New York corporation authorized to do a banking business (“BNY Mellon”). 

W I T N E S S E T H : 

WHEREAS, the Trust desires to retain BNY Mellon to provide the services described herein, and BNY Mellon is willing to provide such services,
all as more fully set forth below; 
 NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein, the parties
hereby agree as follows: 
  

	 	1.	Definitions. 

 Whenever used in this Agreement, unless the context otherwise requires,
the following words shall have the meanings set forth below: 
 “1933 Act” means the Securities Act of 1933, as amended.

 “1934 Act” means the Securities Exchange Act of 1934, as amended. 

“Authorized Person” shall mean each person, whether or not an officer or an employee of the Trust, duly authorized to execute
this Agreement and to give Instructions on behalf of the Trust as set forth in Exhibit A hereto and each Authorized Person’s scope of authority may be limited by setting forth such limitation in a written document signed by both parties hereto.
From time to time the Trust may deliver a new Exhibit A to add or delete any person and BNY Mellon shall be entitled to rely on the last Exhibit A actually received by BNY Mellon. 

“bitcoin” means the unit of account within the Bitcoin network. 

 “Bitcoin network” means the network of computers running the software protocol
underlying bitcoin involved in maintaining the database of bitcoin ownership and facilitating the transfer of bitcoin among parties. 

“BNY Mellon Affiliate” shall mean any office, branch, or subsidiary of The Bank of New York Mellon Corporation. 

“Confidential Information” shall have the meaning given in Section 21 of this Agreement. 

“Documents” shall mean such other documents, including but not limited to, resolutions of the Sponsor authorizing the
execution, delivery and performance of this Agreement by the Trust, and opinions of outside counsel, as BNY Mellon may reasonably request from time to time, in connection with its provision of services under this Agreement. 

“Instructions” shall mean Oral Instructions or written communications actually received by BNY Mellon by S.W.I.F.T., tested
telex, letter, facsimile transmission, or other method or system specified by BNY Mellon as available for use in connection with the services hereunder, from an Authorized Person or person believed in good faith to be an Authorized Person. 

“Net Asset Value” shall mean the per share value of the Trust, calculated in the manner described in the Trust’s
Offering Materials. 
 “Offering Materials” shall mean the Trust’s currently effective prospectus and most recently
filed registration statement with the SEC relating to shares of the Trust. 
 “Organizational Documents” shall mean
certified copies of the Trust’s articles of incorporation, certificate of incorporation, certificate of formation or organization, certificate of limited partnership, bylaws, limited partnership agreement, memorandum of association, limited
liability company agreement, operating agreement, confidential offering memorandum, material contracts, Offering Materials, all SEC exemptive orders issued to the Trust, required filings or similar documents of formation or organization, as
applicable, delivered to and received by BNY Mellon. 

  
 - 2 - 

 “Oral Instructions” shall mean oral instructions received by BNY Mellon under
permissible circumstances specified by BNY Mellon, in its sole discretion, as being from an Authorized Person or person believed in good faith by BNY Mellon to be an Authorized Person. 

“Other Trust Assets” shall mean cash and any short term instruments held by the Trust. 

“SEC” means the United States Securities and Exchange Commission. 

“Securities Laws” means the 1933 Act and the 1934 Act. 

“Shares” means the shares of beneficial interest of any series or class of the Trust. 

“Sponsor” shall mean the entity identified by the Trust to BNY Mellon as the entity having investment responsibility with
respect to the Trust, currently SolidX Management LLC. 
  

	 	2.	Appointment. 

 The Trust hereby appoints BNY Mellon as its agent for the term of this
Agreement to perform the services described herein. BNY Mellon hereby accepts such appointment and agrees to perform the duties hereinafter set forth. 
  

	 	3.	Representations and Warranties. 

 (i) The Trust hereby represents and warrants to BNY
Mellon, which representations and warranties shall be deemed to be continuing, that: 
 (a) It is duly organized and existing under the laws
of the jurisdiction of its organization, with full power to carry on its business as now conducted, to enter into this Agreement and to perform its obligations hereunder; 

(b) This Agreement has been duly authorized, executed and delivered by the Trust in accordance with all requisite action and constitutes a
valid and legally binding obligation of the Trust, enforceable in accordance with its terms; 
 (c) The Sponsor is in good standing and
qualified to do business in each jurisdiction in which the nature or conduct of its business requires such qualification. 
 (d) It is
conducting its business in compliance with all applicable laws and regulations, both state and federal, has made and will continue to make all necessary filings 

  
 - 3 - 

 
including tax filings and has obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted; there is no statute, regulation, rule, order or
judgment binding on it and no provision of its Organizational Documents, nor of any mortgage, indenture, credit agreement or other contract binding on it or affecting its property which would prohibit its execution or performance of this Agreement;

 (e) The method of valuation of bitcoin and Other Trust Assets and the method of computing the Net Asset Value shall be as set forth in
the Offering Materials of the Trust. To the extent the performance of any services described in Schedule I attached hereto by BNY Mellon in accordance with the then effective Offering Materials for the Trust would violate any applicable laws or
regulations, the Trust shall immediately so notify BNY Mellon in writing and thereafter shall either furnish BNY Mellon with the appropriate values of bitcoin, Other Trust Assets, net asset value or other computation, as the case may be, or,
instruct BNY Mellon in writing to value bitcoin and Other Trust Assets and/or compute Net Asset Value or other computations in a manner the Trust specifies in writing, and either the furnishing of such values or the giving of such instructions shall
constitute a representation by the Trust that the same is consistent with all applicable laws and regulations and with its Offering Materials, all subject to confirmation by BNY Mellon as to its capacity to act in accordance with the foregoing; 

(f) Each person named on Exhibit A hereto is duly authorized by the Trust to be an Authorized Person hereunder; and 

(g) It has implemented, and is acting in accordance with, procedures reasonably designed to ensure that it will disseminate to all market
participants, other than Authorized Participants (as defined in its Prospectus and Statement of Additional Information), each calculation of net asset value provided by BNY hereunder to Authorized Participants at the time BNY Mellon provides such
calculation to Authorized Participants. 
 (ii) BNY Mellon hereby represents and warrants to the Trust, which representations and warranties
shall be deemed to be continuing, that: 
 (a) It is duly organized and existing under the laws of the jurisdiction of its organization,
with full power and authority to carry on its business as now conducted, to enter into this Agreement and to perform its obligations hereunder; 

  
 - 4 - 

 (b) This Agreement has been duly authorized, executed and delivered by BNY Mellon in accordance
with all requisite action and constitutes a valid and legally binding obligation of BNY Mellon, enforceable in accordance with its terms; 

(c) It has, and will maintain, such backup, contingency and disaster recovery procedures as are required by its regulators. 

 

	 	4.	Delivery of Documents. 

 The Trust shall promptly provide, deliver, or cause to be
delivered from time to time, to BNY Mellon the Trust’s Organizational Documents, a copy of any and all SEC exemptive orders issued to the Trust, and Documents and other materials used in the distribution of Shares and all amendments thereto as
may be reasonably necessary for BNY Mellon to perform its duties hereunder. BNY Mellon shall not be deemed to have notice of any information (other than information supplied by BNY Mellon or contained in an Organizational Document or Document
previously delivered to BNY Mellon) contained in such Organizational Documents, Documents or other materials until they are actually received by BNY Mellon. 
  

	 	5.	Duties and Obligations of BNY Mellon. 

 (a) Subject to the direction and control of the
Sponsor and the provisions of this Agreement, BNY Mellon shall provide to the Trust the administrative services and the valuation and computation services listed on Schedule I attached hereto. 

(b) In performing hereunder, BNY Mellon shall provide, at its expense, office space, facilities, equipment and personnel. 

(c) BNY Mellon shall not provide any services relating to the management, investment advisory or
sub-advisory functions of the Trust, distribution of shares of the Trust, maintenance of the Trust’s financial records, other than those listed in Schedule I attached hereto, or other services normally
performed by the Trust’s counsel or independent auditors and the services provided by BNY Mellon do not constitute, nor shall they be construed as constituting, legal advice or the provision of legal services for or on behalf of the Trust or
any other person, and the Trust acknowledges that BNY Mellon does not provide public accounting or auditing services or advice and will not be making any tax filings, or doing any tax reporting on its behalf, other than those specifically agreed to
hereunder. The scope of services provided 

  
 - 5 - 

 
by BNY Mellon under this Agreement shall not be increased as a result of new or revised regulatory or other requirements that may become applicable with respect to the Trust, unless the parties
hereto expressly agree in writing to any such increase in the scope of services. 
 (d) The Trust shall cause its officers, advisors,
sponsor, distributor, legal counsel, independent accountants, current administrator (if any), transfer agent, and any other service provider to cooperate with BNY Mellon and to provide BNY Mellon, upon request, with such information, documents and
advice relating to the Trust as is within the possession or knowledge of such persons, and which in the opinion of BNY Mellon, is necessary in order to enable BNY Mellon to perform its duties hereunder. In connection with its duties hereunder, BNY
Mellon shall not be responsible for, under any duty to inquire into, or be deemed to make any assurances with respect to the accuracy, validity or propriety of any information, documents or advice provided to BNY Mellon by any of the aforementioned
persons. BNY Mellon shall not be liable for any loss, damage or expense resulting from or arising out of the failure of the Trust to cause any information, documents or advice to be provided to BNY Mellon as provided herein and shall be held
harmless by the Trust when acting in good faith reliance upon such information, documents or advice relating to the Trust, provided that BNY Mellon has carried out its duties in accordance with its standard of care as set forth herein. All fees or
costs charged by such persons shall be borne by the Trust. In the event that any services performed by BNY Mellon hereunder rely, in whole or in part, upon information obtained from a third party service utilized or subscribed to by BNY Mellon which
BNY Mellon in its reasonable judgment deems reliable, BNY Mellon shall not have any responsibility or liability for, under any duty to inquire into, or deemed to make any assurances with respect to, the accuracy or completeness of such information.

 (e) Nothing in this Agreement shall limit or restrict BNY Mellon, any BNY Mellon Affiliate or any officer or employee thereof from acting
for or with any third parties, and providing services similar or identical to some or all of the services provided hereunder. 
 (f) The
Trust shall furnish BNY Mellon with any and all instructions, explanations, information, specifications and documentation deemed necessary by BNY Mellon in the performance of its duties hereunder, including, without limitation, the amounts or
written formula for calculating the amounts and times of accrual of Trust liabilities and expenses. BNY 

  
 - 6 - 

 
Mellon shall not be required to include as Trust liabilities and expenses, nor as a reduction of net asset value, any accrual for any federal, state, or foreign income taxes unless the Trust
shall have specified to BNY Mellon in Instructions the precise amount of the same to be included in liabilities and expenses or used to reduce net asset value. The Trust shall also furnish BNY Mellon with valuations for bitcoin and Other Trust
Assets if BNY Mellon notifies the Trust that same are not available to BNY Mellon from a pricing service utilized, or subscribed to, by BNY Mellon which the Trust directs BNY Mellon to utilize, and which BNY Mellon in its judgment deems reliable at
the time such information is required for calculations hereunder. At any time and from time to time, the Trust also may furnish BNY Mellon with valuations for bitcoin and Other Trust Assets and instruct BNY Mellon in Instructions to use such
information in its calculations hereunder. BNY Mellon shall at no time be required or obligated to commence or maintain any utilization of, or subscriptions to, any pricing service. In no event shall BNY Mellon be required to determine, or have any
obligations with respect to, whether a market price represents any fair or true value, nor to adjust any price to reflect any events or announcements, including, without limitation, those with respect to the issuer thereof, it being agreed that all
such determinations and considerations shall be solely for the Trust. 
 (g) BNY Mellon may apply to an Authorized Person of the Trust for
Instructions with respect to any matter arising in connection with BNY Mellon’s performance hereunder, and in the absence of manifest error, BNY Mellon shall not be liable for any action taken or omitted to be taken by it in good faith without
gross negligence or willful misconduct in accordance with such Instructions. Such application for Instructions may, at the option of BNY Mellon, set forth in writing any action proposed to be taken or omitted to be taken by BNY Mellon with respect
to its duties or obligations under this Agreement and the date on and/or after which such action shall be taken. Except as otherwise set forth herein, BNY Mellon shall not be liable for any action taken or omitted to be taken in accordance with a
proposal included in any such application on or after the date specified therein unless, prior to taking or omitting to take any such action, BNY Mellon has received Instructions from an Authorized Person in response to such application specifying
the action to be taken or omitted. 
 (h) BNY Mellon may consult with counsel to the Trust and shall be fully protected with respect to
anything done or omitted by it provided that BNY Mellon acts in good faith and without gross negligence or willful misfeasance in carrying out such advice or opinion of such counsel to the Trust, and provided further that any such action or omission
by BNY Mellon is consistent with BNY Mellon’s rights and responsibilities under this Agreement. 

  
 - 7 - 

 (i) Notwithstanding any other provision contained in this Agreement or Schedule I attached
hereto, BNY Mellon shall have no duty or obligation to determine, or advise or notify the Trust of: (i) the taxable nature of any distribution or amount received or deemed received by, or payable to, the Trust, (ii) the taxable nature or
effect on the Trust or its shareholders of any corporate actions, class actions, tax reclaims, tax refunds or similar events, (iii) the taxable nature or taxable amount of any distribution or dividend paid, payable or deemed paid, by the Trust
to its shareholders; or (iv) the effect under any federal, state, or foreign income tax laws of the Trust making or not making any distribution or dividend payment, or any election with respect thereto. 

(j) BNY Mellon shall have no duties or responsibilities whatsoever except such duties and responsibilities as are specifically set forth in
this Agreement and Schedule I attached hereto, and no covenant or obligation, except for those set forth herein, shall be implied against BNY Mellon in connection with this Agreement. 

(k) BNY Mellon, in performing the services required of it under the terms of this Agreement, shall be entitled to rely fully on the accuracy
and validity of any and all Instructions, explanations, information, specifications, Documents and documentation furnished to it by the Trust and shall have no duty or obligation to review the accuracy, validity or propriety of such Instructions,
explanations, information, specifications, Documents or documentation, including, without limitation, evaluations of bitcoin; the amounts or formula for calculating the amounts and times of accrual of the Trust’s liabilities and expenses; the
amounts receivable and the amounts payable on the sale or purchase of bitcoin or Other Trust Assets; and amounts receivable or amounts payable for the sale or redemption of Trust Shares effected by or on behalf of the Trust. In the event BNY
Mellon’s computations hereunder rely, in whole or in part, upon information, including, without limitation, bid, offer or market values of bitcoin, Other Trust Assets or other assets, or accruals of interest or earnings thereon, from a pricing
or similar service utilized, or subscribed to, by BNY Mellon which the Trust directs BNY Mellon to utilize, and which BNY Mellon in its reasonable judgment deems reliable, BNY Mellon shall not be responsible for, under any duty to inquire into, or
deemed to make any assurances with respect 

  
 - 8 - 

 
to, the accuracy or completeness of such information. Without limiting the generality of the foregoing, BNY Mellon shall not be required to inquire into any valuation of bitcoin, Other Trust
Assets or other assets by the Trust or any third party described in this sub-section (k) even though BNY Mellon in performing services similar to the services provided pursuant to this Agreement for
others may receive different valuations of bitcoin or Other Trust Assets. 
 (l) BNY Mellon, in performing the services required of it under
the terms of this Agreement, shall not be responsible for determining whether any interest accruable to the Trust is or will be actually paid, but will accrue such interest until otherwise instructed by the Trust. 

(m) BNY Mellon shall not be responsible for damages (including without limitation damages caused by delays, failure, errors, interruption or
loss of data) which occurring directly or indirectly by reason of circumstances beyond its reasonable control in the performance of its duties under this Agreement, including, without limitation, labor difficulties within or without BNY Mellon,
mechanical breakdowns, flood or catastrophe, acts of God, failures of transportation, interruptions, loss, or malfunctions of utilities, action or inaction of civil or military authority, national emergencies, public enemy, war, terrorism, riot,
sabotage, non-performance by a third party, failure of the mails, communications, computer (hardware or software) services, or functions or malfunctions of the internet, firewalls, encryption systems or
security devices caused by any of the above. Nor shall BNY Mellon be responsible for delays or failures to supply the information or services specified in this Agreement where such delays or failures are caused by the failure of any person(s)
other than BNY Mellon or a BNY Mellon Affiliate to supply any instructions, explanations, information, specifications or documentation deemed necessary by BNY Mellon in the performance of its duties under this Agreement. Upon the circumstances of
any such delay or failure BNY Mellon shall use commercially reasonable efforts to resume performance as soon as practicable under the circumstances. 
  

	 	6.	Allocation of Expenses. 

 Except as otherwise provided herein, all costs and expenses
arising or incurred in connection with the performance of this Agreement shall be paid by the Trust, including but not limited to, organizational costs and costs of maintaining corporate existence, taxes, interest, brokerage fees and commissions,
insurance premiums, compensation and expenses of the Sponsor, officers or employees, legal, accounting and audit expenses, management, advisory, 

  
 - 9 - 

 
sub-advisory, administration and shareholder servicing fees, charges of custodians, transfer and dividend disbursing agents, expenses (including clerical
expenses) incident to the issuance, redemption or repurchase of Trust shares or membership interests, as applicable, fees and expenses incident to the registration or qualification under the Securities Laws, state or other applicable securities laws
of the Trust or its shares or membership interests, as applicable, costs (including printing and mailing costs) of preparing and distributing Offering Materials, reports, notices and proxy material to the Trust’s shareholders or members, as
applicable, all expenses incidental to holding meetings of the Trust’s shareholders, and extraordinary expenses as may arise, including litigation affecting the Trust and legal obligations relating thereto for which the Trust may have to
indemnify its officers, managers, and/or members, as may be applicable. Except as provided herein and in the related fee schedule, as may be amended from time to time, BNY Mellon shall pay all of its costs and expenses arising or incurred in
connection with its performance under this Agreement. 
  

	 	7.	Portfolio Compliance Services. 

 (a) If Schedule I contains a requirement for BNY Mellon
to provide the Trust with portfolio compliance services, such services shall be provided pursuant to the terms of this Section 7 (the “Portfolio Compliance Services”). The precise compliance review and testing services to be provided
shall be mutually agreed between BNY Mellon and the Trust, and the results of BNY Mellon’s Portfolio Compliance Services shall be detailed in a portfolio compliance summary report (the “Compliance Summary Report”) prepared on a
periodic basis as mutually agreed. Each Compliance Summary Report shall be subject to review and approval by the Trust. BNY Mellon shall have no responsibility or obligation to provide Portfolio Compliance Services other that those services
specifically listed in Schedule I. 
 (b) The Trust will examine each Compliance Summary Report delivered to it by BNY Mellon and notify BNY
Mellon of any error, omission or discrepancy within ten (10) days of its receipt. The Trust agrees to notify BNY Mellon promptly in writing if it fails to receive any such Compliance Summary Report. In addition, if the Trust learns of any out-of-compliance condition before receiving a Compliance Summary Report reflecting such condition, the Trust will notify BNY Mellon of such condition promptly after discovery
thereof. 

  
 - 10 - 

 (c) While BNY Mellon will endeavor to identify out-of-compliance conditions, BNY Mellon does not and could not for the fees charged, make any guarantees, representations or warranties with respect to its ability to identify all such conditions. Provided
BNY Mellon acted with its standard of care as described herein. In the event of any errors or omissions in the performance of Portfolio Compliance Services, the Trust’s sole and exclusive remedy and BNY Mellon’s sole liability shall be
limited to re-performance by BNY Mellon of the Portfolio Compliance Services affected and in connection therewith the correction of any error or omission, if practicable and the preparation of a corrected
report, at no cost to the Trust. 
  

	 	8.	Regulatory Administration Services. 

 (a) If Schedule I contains a requirement for BNY
Mellon to provide the Trust with compliance support services and/or Regulatory Administration services, such services shall be provided pursuant to the terms of this Section 7 (such services, collectively hereinafter referred to as the
“Regulatory Support Services”). 
 (b) Notwithstanding anything in this Agreement to the contrary, the Regulatory Support Services
provided by BNY Mellon under this Agreement are administrative in nature and do not constitute, nor shall they be construed as constituting, legal advice or the provision of legal services for or on behalf of the Trust or any other person. 

(c) All work product produced by BNY Mellon in connection with its provision of Regulatory Support Services under this Agreement is subject to
review and approval by the Trust and by the Trust’s legal counsel. The Regulatory Support Services performed by BNY Mellon under this Agreement will be at the request and direction of the Trust and/or the Sponsor. BNY Mellon disclaims liability
to the Trust, and the Trust is solely responsible, for the adequacy and effectiveness of the Trust’s compliance program. 
  

	 	9.	Standard of Care; Indemnification. 

 (a) Except as otherwise provided herein, BNY Mellon
and any BNY Mellon Affiliate shall exercise reasonable care and diligence in carrying out all of its duties and obligations under this Agreement and BNY Mellon shall not be liable for any costs, expenses, damages, liabilities or claims (including
reasonable attorneys’ and accountants’ fees) incurred by 

  
 - 11 - 

 
the Trust, except those costs, expenses, damages, liabilities or claims arising out of BNY Mellon’s own bad faith, gross negligence willful misfeasance, reckless disregard of its duties
hereunder, or breach of any representation or warranty of BNY Mellon contained in this Agreement. In no event shall either party be liable to the other party or any third party for any special, indirect or consequential damages, or lost profits or
loss of business, arising under or in connection with this Agreement, even if previously informed of the possibility of such damages and regardless of the form of action. BNY Mellon and any BNY Mellon Affiliate shall not be liable for any loss,
damage or expense, including counsel fees and other costs and expenses of a defense against any claim or liability, resulting from, arising out of, or in connection with its performance hereunder, including its actions or omissions, the
incompleteness or inaccuracy of any specifications or other information furnished by the Trust, or for delays caused by circumstances beyond BNY Mellon’s reasonable control, unless such loss, damage or expense arises out of the bad faith, gross
negligence or willful misconduct of BNY Mellon. 
 (b) The Trust shall indemnify and hold harmless BNY Mellon from and against any and all
costs, expenses, damages, liabilities and claims (including claims asserted by the Trust), and reasonable attorneys’ and accountants’ fees relating thereto, which are sustained or incurred by or which may be asserted against BNY Mellon or
any BNY Mellon Affiliate, by reason of or as a result of any action taken or omitted to be taken by BNY Mellon or any BNY Mellon Affiliate without bad faith, gross negligence, or willful misconduct, or in reliance upon (i) any law, act,
regulation or interpretation of the same even though the same may thereafter have been altered, changed, amended or repealed, (ii) the Trust’s Offering Materials or Documents (excluding information provided by BNY Mellon), (iii) any
Instructions, or (iv) any opinion of legal counsel for the Trust, or arising out of transactions or other activities of the Trust which occurred prior to the commencement of this Agreement; provided, that the Trust shall not indemnify
BNY Mellon for costs, expenses, damages, liabilities or claims for which BNY Mellon is liable under the preceding sub-section 9(a). This indemnity shall be a continuing obligation of the Trust, its successors
and assigns, notwithstanding the termination of this Agreement. Without limiting the generality of the foregoing, the Trust shall indemnify BNY Mellon against and save BNY Mellon harmless from any loss, damage or expense, including reasonable
counsel fees and other costs and expenses of a defense against any claim or liability, arising from any one or more of the following: 
 I.
Errors in records or instructions, explanations, information, specifications or documentation of any kind, as the case may be, supplied to BNY Mellon by or on behalf of the Trust; 

  
 - 12 - 

 II. Action or inaction taken or omitted to be taken by BNY Mellon pursuant to Instructions of
the Trust or otherwise carried out by BNY Mellon without gross negligence, bad faith, willful misfeasance or reckless disregard of its duties hereunder; 

III. Any action taken or omitted to be taken by BNY Mellon in good faith in accordance with the advice or opinion of counsel for the Trust or
its own counsel pursuant to Section 5(h) of this Agreement; 
 IV. Any improper use by the Trust or its agents, distributor or Sponsor of
any valuations or computations supplied by BNY Mellon pursuant to this Agreement; 
 V. The method of valuation and the method of computing
the Trust’s net asset value to the extent such methods were instructed by the Trust or its agents, directly or by way of its Prospectus; or 

VI. Any valuations or net asset value provided by the Trust. 

(c) Actions taken or omitted in reliance on Instructions or upon any information, order, indenture, stock certificate, membership certificate,
power of attorney, assignment, affidavit or other instrument believed by BNY Mellon in good faith to be from an Authorized Person, or upon the opinion of legal counsel for the Trust or its own counsel, shall be conclusively presumed to have been
taken or omitted in good faith. 
  

	 	10.	Compensation. 

 For the services provided hereunder, the Trust agrees to pay BNY Mellon
such compensation as is mutually agreed to in writing by the Trust and BNY Mellon from time to time and such reasonable out-of-pocket expenses (e.g.,
telecommunication charges, postage and delivery charges, costs of independent compliance reviews, record retention costs, reproduction charges and transportation and lodging costs) as are incurred by BNY Mellon in performing its duties hereunder.
Except as hereinafter set forth, compensation shall be calculated and accrued daily and paid monthly. The Trust authorizes BNY Mellon to debit the Trust’s custody account for all amounts due and payable hereunder. BNY Mellon shall deliver to
the Trust invoices for 

  
 - 13 - 

 
services rendered after debiting the Trust’s custody account with an indication that payment has been made. Upon termination of this Agreement before the end of any month, the compensation
for such part of a month shall be prorated according to the proportion which such period bears to the full monthly period and shall be payable upon the effective date of termination of this Agreement. For the purpose of determining compensation
payable to BNY Mellon, the Trust’s net asset value shall be computed at the times and in the manner specified in the Trust’s Offering Materials. 
  

	 	11.	Records; Visits. 

 (a) The books and records pertaining to the Trust which are in the
possession or under the control of BNY Mellon shall be the property of the Trust and shall be surrendered promptly to the Trust and on and in accordance with its reasonable request. The Trust and Authorized Persons shall have access to such books
and records at all times during BNY Mellon’s normal business hours. Upon the reasonable request of the Trust, copies of any such books and records shall be provided by BNY Mellon to the Trust or to an Authorized Person, at the Trust’s
expense. 
 (b) BNY Mellon shall keep all books and records with respect to the services to be performed by BNY Mellon hereunder in the form
and manner required by Section 31 of the Investment Company Act of 1940 and the rules thereunder, as if the Trust was subject to such requirements. 
  

	 	12.	Term of Agreement. 

 (a) This Agreement shall be effective on the date first written
above and, unless terminated pursuant to its terms, shall continue until 11:59 PM on the date which is the third anniversary of such date (the “Initial Term”), at which time this Agreement shall terminate, unless renewed in accordance with
the terms hereof. 
 (b) This Agreement shall automatically renew for successive terms of one (1) year each (each, a “Renewal
Term”), unless the Trust or BNY Mellon gives written notice to the other party of its intent not to renew and such notice is received by the other party not less than ninety (90) days prior to the expiration of the Initial Term or the
then-current Renewal Term (a “Non-Renewal Notice”). In the event a party provides a Non-Renewal Notice, this Agreement shall terminate at 11:59 PM on the last
day of the Initial Term or Renewal Term, as applicable. 

  
 - 14 - 

 (c) If a party materially breaches this Agreement (a “Defaulting Party”) the other
party (the “Non-Defaulting Party”) may give written notice thereof to the Defaulting Party (“Breach Notice”), and if such material breach shall not have been remedied within thirty
(30) days after the Breach Notice is given, then the Non- Defaulting Party may terminate this Agreement by giving written notice of termination to the Defaulting Party (“Breach Termination
Notice”), in which case this Agreement shall terminate as of 11:59 PM on the 30th day following the date the Breach Termination Notice is given, or such later date as may be specified in the Breach Termination Notice (but not later than
the last day of the Initial Term or then-current Renewal Term, as appropriate). In all cases, termination by the Non-Defaulting Party shall not constitute a waiver by the
Non-Defaulting Party of any other rights it might have under this Agreement or otherwise against the Defaulting Party. 

(d) Notwithstanding any other provision of this Agreement, BNY Mellon may in its sole discretion terminate this Agreement immediately by
sending notice thereof to the Trust upon the happening of any of the following: (i) the Trust commences as debtor any case or proceeding under any bankruptcy, insolvency or similar law, or there is commenced against the Trust any such case or
proceeding; (ii) the Trust commences as debtor any case or proceeding seeking the appointment of a receiver, conservator, trustee, custodian or similar official for the Trust or any substantial part of its property or there is commenced against
the Trust any such case or proceeding; (iii) the Trust makes a general assignment for the benefit of creditors; or (iv) the Trust admits in any recorded medium, written, electronic or otherwise, its inability to pay its debts as they come
due. BNY Mellon may exercise its termination right under this Section 12(d) at any time after the occurrence of any of the foregoing events notwithstanding that such event may cease to be continuing prior to such exercise, and any delay in
exercising this right shall not be construed as a waiver or other extinguishment of that right. Any exercise by BNY Mellon of its termination right under this Section 12(d) shall be without any prejudice to any other remedies or rights available to
BNY Mellon and shall not be subject to any fee or penalty, whether monetary or equitable. Notwithstanding the provisions of Section 18, notice of termination under this Section 12(d) shall be considered given and effective when given, not when
received. 

  
 - 15 - 

 (e) The Trust may terminate this Agreement at any time upon ninety (90) days’ prior
written notice in the event that the Sponsor determines to liquidate the Trust and terminate its registration with the Securities and Exchange Commission. 
  

	 	13.	Amendment. 

 This Agreement may not be amended, changed or modified in any manner except
by a written agreement executed by BNY Mellon and the Trust to be bound thereby, and authorized or approved by the Sponsor. 
  

	 	14.	Assignment; Subcontracting. 

 (a) This Agreement shall extend to and shall be binding
upon the parties hereto, and their respective successors and assigns; provided, however, that this Agreement shall not be assignable or delegable by the Trust without the written consent of BNY Mellon, or by BNY Mellon without the written consent of
the Trust. 
 (b) Notwithstanding the foregoing: (i) BNY Mellon may transfer this Agreement in connection with a sale of a majority or
more of its assets, equity interests or voting control, provided that BNY Mellon gives the Trust thirty (30) days’ prior written notice of such transfer and such transfer does not impair the provision of services under this Agreement in
any material respect, and the transferee agrees to be bound by all terms of this Agreement in place of BNY Mellon; (ii) BNY Mellon may subcontract with, hire, engage or otherwise outsource to any BNY Mellon Affiliate with respect to the
performance of any one or more of the functions, services, duties or obligations of BNY Mellon under this Agreement but any such subcontracting, hiring, engaging or outsourcing shall not relieve BNY Mellon of any of its liabilities hereunder; for
the avoidance of doubt, BNY Mellon will be liable for any costs, expenses, damages, liabilities or claims incurred by the Trust as a result of the acts or failures to act by any BNY Mellon Affiliate to the extent that BNY Mellon itself would itself
be liable for such acts or omissions under this Agreement had it performed or not performed the relevant act or omission itself; (iii) BNY Mellon may subcontract with, hire, engage or otherwise outsource to an unaffiliated third party with
respect to the performance of any one or more of the functions, services, duties or obligations of BNY Mellon under this Agreement but any such subcontracting, hiring, engaging or outsourcing shall require the prior written consent of the Trust; and
(iv) BNY Mellon, in the course of providing certain additional services requested by 

  
 - 16 - 

 
the Trust, including but not limited to, Typesetting or eBoard Book services (“Vendor Eligible Services”) as further described in Schedule I, may in its sole discretion, enter into an
agreement or agreements with a financial printer, or electronic services provider (“Vendor”) to provide BNY Mellon with the ability to generate certain reports or provide certain functionality. BNY Mellon shall not be obligated to perform
any of the Vendor Eligible Services unless an agreement between BNY Mellon and the Vendor for the provision of such services is then-currently in effect, and shall only be liable for the failure to reasonably select the Vendor. Upon request, BNY
Mellon will disclose the identity of the Vendor and the status of the contractual relationship, and the Trust is free to attempt to contract directly with the Vendor for the provision of the Vendor Eligible Services. 

(c) As compensation for the Vendor Eligible Services rendered by BNY Mellon pursuant to this Agreement, the Trust will pay to BNY Mellon such
fees as may be agreed to in writing by the Trust and BNY Mellon. In turn, BNY Mellon will be responsible for paying the Vendor’s fees. For the avoidance of doubt, BNY Mellon anticipates that the fees it charges hereunder will be more than the
fees charged to it by the Vendor, and BNY Mellon will retain the difference between the amount paid to BNY Mellon hereunder and the fees BNY Mellon pays to the Vendor as compensation for the additional services provided by BNY Mellon in the course
of making the Vendor Eligible Services available to the Trust. 
  

	 	15.	Governing Law; Consent to Jurisdiction. 

 This Agreement shall be construed in accordance
with the laws of the State of New York, without regard to conflict of laws principles thereof. The Trust hereby consents to the jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute arising
hereunder, and waives to the fullest extent permitted by law its right to a trial by jury. To the extent that in any jurisdiction the Trust may now or hereafter be entitled to claim, for itself or its assets, immunity from suit, execution,
attachment (before or after judgment) or other legal process, the Trust irrevocably agrees not to claim, and it hereby waives, such immunity. 
  

	 	16.	Severability. 

 In case any provision in or obligation under this Agreement shall be
invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining 

  
 - 17 - 

 
provisions or obligations shall not in any way be affected or impaired thereby, and if any provision is inapplicable to any person or circumstances, it shall nevertheless remain applicable to all
other persons and circumstances. 
  

	 	17.	No Waiver. 

 Each and every right granted to BNY Mellon hereunder or under any other
document delivered hereunder or in connection herewith, or allowed it by law or equity, shall be cumulative and may be exercised from time to time. No failure on the part of BNY Mellon to exercise, and no delay in exercising, any right will operate
as a waiver thereof, nor will any single or partial exercise by BNY Mellon of any right preclude any other or future exercise thereof or the exercise of any other right. 
  

	 	18.	Notices. 

 All notices, requests, consents and other communications pursuant to this
Agreement in writing shall be sent as follows: 
 if to the Trust, at 

SolidX Management LLC 
 200 Park
Avenue 
 New York, New York 10166 

if to BNY Mellon, at 
 BNY
Mellon 
 2 Hanson Place 

Brooklyn, NY 11217 
 Attention:

 with a copy to: 
 The Bank
of New York Mellon 
 One Wall Street 

New York, New York 10286 

Attention: 
 or at such other place as may from
time to time be designated in writing. Notices hereunder shall be effective upon receipt. 

  
 - 18 - 

	 	19.	Counterparts. 

 This Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original; but such counterparts together shall constitute only one instrument. 
  

	 	20.	Reserved. 

  

	 	21.	Confidentiality. 

 (a) Each party shall keep confidential any information relating to the
other party’s business (“Confidential Information”). Confidential Information shall include (a) any data or information that is competitively sensitive material, and not generally known to the public, including, but not limited
to, information about product plans, marketing strategies, finances, operations, customer relationships, customer profiles, customer lists, sales estimates, business plans, and internal performance results relating to the past, present or future
business activities of the Trust or BNY Mellon and their respective subsidiaries and affiliated companies; (b) any scientific or technical information, design, process, procedure, formula, or improvement that is commercially valuable and secret
in the sense that its confidentiality affords the Trust or BNY Mellon a competitive advantage over its competitors; (c) all confidential or proprietary concepts, documentation, reports, data, specifications, computer software, source code,
object code, flow charts, databases, inventions, know-how, and trade secrets, whether or not patentable or copyrightable; and (d) anything designated as confidential. Notwithstanding the foregoing,
information shall not be Confidential Information and shall not be subject to such confidentiality obligations if it: (a) is already known to the receiving party at the time it is obtained; (b) is or becomes publicly known or available
through no wrongful act of the receiving party; (c) is rightfully received from a third party who, to the best of the receiving party’s knowledge, is not under a duty of confidentiality; (d) is released by the protected party to a
third party without restriction; (e) is requested or required to be disclosed by the receiving party pursuant to a court order, subpoena, governmental or regulatory agency request or law; (f) is relevant to the defense of any claim or
cause of action asserted against the receiving party; (g) is Trust information provided by BNY Mellon in connection with an independent third party compliance or other review; (h) is released in connection with the provision of services
under this Agreement; or (i) has been or is independently developed or obtained by the receiving party. The provisions of this Section 20 shall survive termination of this Agreement for a period of one (1) year after such termination.

  
 - 19 - 

 (b) The Bank of New York Mellon Corporation is a global financial organization that provides
services to clients through its affiliates and subsidiaries in multiple jurisdictions (the “BNY Mellon Group”). The BNY Mellon Group may centralize functions including audit, accounting, risk, legal, compliance, sales, administration,
product communication, relationship management, storage, compilation and analysis of customer-related data, and other functions (the “Centralized Functions”) in one or more affiliates, subsidiaries and third-party service providers. Solely
in connection with the Centralized Functions, (i) the Trust consents to the disclosure of and authorizes BNY Mellon to disclose information regarding the Trust (“Customer-Related Data”) to the BNY Mellon Group and to its third-party
service providers who are subject to confidentiality obligations with respect to such information and (ii) BNY Mellon may store the names and business contact information of the Trust’s employees and representatives on the systems or in
the records of the BNY Mellon Group or its service providers. The BNY Mellon Group may aggregate Customer-Related Data with other data collected and/or calculated by the BNY Mellon Group, and notwithstanding anything in this Agreement to the
contrary the BNY Mellon Group will own all such aggregated data, provided that the BNY Mellon Group shall not distribute the aggregated data in a format that identifies Customer-Related Data with a particular customer. The Trust confirms that it is
authorized to consent to the foregoing. 
  

	 	22.	Non-Solicitation. 

 During the term of this
Agreement and for one (1) year thereafter, the Trust shall not (with the exceptions noted in the immediately succeeding sentence) knowingly solicit or recruit for employment or hire any of BNY Mellon’s employees, and the Trust shall cause
the Trust’s Sponsor and any affiliates of the Trust to not (with the exceptions noted in the immediately succeeding sentence) knowingly solicit or recruit for employment or hire any of BNY Mellon’s employees. To “knowingly”
solicit, recruit or hire within the meaning of this provision does not include, and therefore does not prohibit, solicitation, recruitment or hiring of a BNY Mellon employee by the Trust, the Sponsor or an affiliate of the Trust if the BNY Mellon
employee was identified by such entity solely as a result of the BNY Mellon employee’s response to a general advertisement by such entity in a publication of trade or industry interest or other similar general solicitation by such entity. 

[Signature page follows.] 

  
 - 20 - 

 IN WITNESS WHEREOF, the parties hereto have caused the foregoing instrument to be executed by
their duly authorized officers and their seals to be hereunto affixed, all as of the latest date set forth below. 
  

			
	By:	 	  

		 	on behalf of SolidX Bitcoin Trust

 
			
	Name:	 	
	Title:	 	
	Date:	 	

 
			
	
	THE BANK OF NEW YORK MELLON
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	
	Date:	 	

  
 - 22 - 

 EXHIBIT A 

I, Ivan Brightly, of SolidX Bitcoin Trust, a Delaware trust (the “Trust”), do hereby certify that: 

The following individuals serve in the following positions with the Trust, and each has been duly elected or appointed by the Trust to each
such position and qualified therefor in conformity with the Trust’s Organizational Documents, and the signatures set forth opposite their respective names are their true and correct signatures. Each such person is designated as an Authorized
Person under the Fund Administration and Accounting Agreement dated as of              2016, between the Trust and The Bank of New York Mellon. 

 

					
	Name	  	Position	  	Signature
			
		  		  	  

			
		  		  	  

			
		  		  	  

			
		  		  	  

 SCHEDULE I 

Schedule of Services 
 All
services provided in this Schedule of Services are subject to the review and approval of the appropriate Trust officers, Trust counsel and accountants of the Trust, as may be applicable. The services included on this Schedule of Services may be
provided by BNY Mellon or a BNY Mellon Affiliate, collectively referred to herein as “BNY Mellon”. 
 VALUATION AND COMPUTATION ACCOUNTING
SERVICES 
 BNY Mellon shall provide the following valuation and computation accounting services for the Trust: 

 

	 	•	 	Journalize investment, capital share and income and expense activities; 

  

	 	•	 	Maintain individual ledgers for Trust assets; 

  

	 	•	 	Maintain certain financial books and records for the Trust, including creation and redemption books and records, and Trust accounting records; 

 

	 	•	 	Maintain historical tax lots for Trust assets; 

  

	 	•	 	Reconcile cash and investment balances of the Trust with the Trust’s custodian and provide the Sponsor with the beginning cash balance available for investment purposes upon request; 

 

	 	•	 	Calculate various contractual expenses; 

  

	 	•	 	Calculate capital gains and losses; 

  

	 	•	 	Calculate daily distribution rate per share; 

  

	 	•	 	Determine net income; 

  

	 	•	 	Obtain bitcoin quotes and Other Trust Asset quotes from pricing services approved by the Sponsor, or if such quotes are unavailable, then obtain such prices from the Sponsor, and in either case, calculate the market
value of the Trust’s investments in accordance with the Trust’s valuation policies or guidelines; provided, however, that BNY Mellon shall not under any circumstances be under a duty to independently price or value any of the Trust ‘s
investments itself or to confirm or validate any information or valuation provided by the Sponsor or any other pricing source, nor shall BNY Mellon have any liability relating to inaccuracies or otherwise with respect to such information or
valuations; 

  

	 	•	 	Compute net asset value, calculated in the manner described in the Trust’s Offering Materials; 

  

	 	•	 	Transmit or make available a copy of the daily portfolio valuation to the Sponsor; 

  

	 	•	 	Publish basket to NSCC on each day on which trading occurs on the NYSE Arca; and 

  

	 	•	 	Compute portfolio returns. 

 FINANCIAL REPORTING 

BNY Mellon shall provide the following financial reporting services for the Trust: 

 

	 	•	 	Financial Statement Preparation & Review 

  

	 	•	 	Prepare financial statements for the Trust; 

	 	•	 	Prepare the Trust’s periodic shareholder reports as required pursuant to the Securities and Exchange Act of 1934; and 

  

	 	•	 	Prepare, circulate and maintain the Trust’s financial reporting production calendar; 

  

	 	•	 	Typesetting Services 1 

 

	 	•	 	Create financial compositions for the applicable financial report and related EDGAR files; 

  

	 	•	 	Maintain country codes, industry class codes, security class codes and state codes; 

  

	 	•	 	Map individual general ledger accounts into master accounts to be displayed in the applicable financial reports; 

  

	 	•	 	Create components that will specify the proper grouping and sorting for display of portfolio information; 

  

	 	•	 	Create components that will specify the proper calculation and display of financial data required for each applicable financial report (except for identified manual entries, which BNY Mellon will enter);

  

	 	•	 	Process, convert and load security and general ledger data; 

  

	 	•	 	Include data in financial reports provided from external parties to BNY Mellon which, includes, but is not limited to: Forms 10-Q, 10-K and
S-1, shareholder letters, “Management Discussion and Analysis” commentary, notes on performance, notes to financials, report of independent auditors, Trust management listing, service providers
listing and Trust spectrums; 

  

	 	•	 	Document publishing, including the output of print-ready PDF files and EDGAR html files (such EDGAR html files will be limited to one per the applicable financial report and unless mutually agreed to in writing between
BNY Mellon and the Trust, BNY Mellon will use the same layout for production data for every successive reporting period); 

  

	 	•	 	Generate financial reports using the Vendor’s capabilities which include the following: 

  

	 	•	 	front/back cover; 

  

	 	•	 	table of contents; 

  

	 	•	 	shareholder letter; 

  

	 	•	 	Management Discussion and Analysis commentary; 

  

	 	•	 	sector weighting graphs/tables; 

  

	 	•	 	disclosure of Trust expenses; 

  

	 	•	 	schedules of investments; 

  

	 	•	 	statement of net assets; 

  

	 	•	 	statements of assets and liabilities; 

  

	 	•	 	statements of operation; 

  

	 	•	 	statements of changes; 

  

	 	•	 	statements of cash flows; 

  

	 	•	 	financial highlights; 

  

	 	•	 	notes to financial statements; 

  

	 	•	 	report of independent registered public accounting firm; 

  

	 	•	 	tax information; and 

  

	 	•	 	additional Trust information as mutually agreed in writing between BNY Mellon and the Trust. 

  
 - 3 - 

	 	•	 	Unless mutually agreed in writing between BNY Mellon and the Trust, BNY Mellon will use the same layout and format for every successive reporting period for the typeset reports. At the request of the Trust and upon the
mutual written agreement of BNY Mellon and the Trust as to the scope of any changes and additional compensation of BNY Mellon, BNY Mellon will, or will cause the Vendor to change format or layout of reports from time to time. 

TAX SERVICES 
 BNY Mellon shall
provide the following tax services for the Trust: 
  

	 	•	 	Tax Provision Preparation 

  

	 	•	 	Prepare fiscal year-end tax provision analysis; 

  

	 	•	 	Process tax adjustments on securities identified by the Trust that require such treatment; 

  

	 	•	 	Prepare ROCSOP adjusting entries; and 

  

	 	•	 	Prepare financial statement footnote disclosures. 

  

	 	•	 	BNY Mellon is not responsible for the identification of assets requiring U.S. tax treatment that differs from treatment under U.S. generally accepted accounting principles; this responsibility resides with the Trust
or Trust’s management. BNY Mellon is responsible for processing such identified assets, in accordance with U.S. tax laws and regulations. 

  

	 	•	 	Tax Distributions Calculations 

  

	 	•	 	Prepare calendar year tax distribution analysis; 

  

	 	•	 	Process tax adjustments on Other Trust Assets identified by the Trust that require such treatment; and 

  

	 	•	 	Prepare annual tax-based distribution estimate for the Trust. 

  

	 	•	 	BNY Mellon is not responsible for the identification of assets requiring U.S. tax treatment that differs from treatment under U.S. generally accepted accounting principles; this responsibility resides with the Trust
or Trust’s management. BNY Mellon is responsible for processing such identified assets, in accordance with U.S. tax laws and regulations. 

  

	 	•	 	Other Tax Services 

  

	 	•	 	Prepare for execution and filing, the federal and state income tax returns; and 

  

	 	•	 	Prepare year-end broker/dealer reporting and prepare Trust distribution calculations disseminated to broker/dealers. 

 

	 	•	 	Uncertain Tax Provisions 

  

	 	•	 	Documentation of all material tax positions taken by the Trust with respect to specified fiscal years and identified to BNY Mellon (“Tax Positions”); 

 

	 	•	 	Review of the Trust’s: (i) tax provision work papers, (ii) income tax returns, and (iii) tax policies and procedures; 

  
 - 4 - 

	 	•	 	Determine as to whether or not Tax Positions have been consistently applied, and documentation of any inconsistencies; 

  

	 	•	 	Review relevant statutory authorities; 

  

	 	•	 	Review tax opinions and legal memoranda prepared by tax counsel or tax auditors to the Trust; 

  

	 	•	 	Review standard industry practices, to the extent such practices are known to, or may reasonably be determined by, BNY Mellon; and 

  

	 	•	 	Delivery of a written report to the Trust detailing such items. 

  

	 	•	 	The following are expressly excluded from the Uncertain Tax Positions services: (i) assessment of risk of any challenge by the Internal Revenue Service or other taxing authority against any Tax
Position (including, without limitation, whether it is “more likely than not” such Tax Position would be sustained); (ii) calculation of any tax benefit measurement, in whole or in part, that may be required if any “more likely than
not” threshold has not been met; and (iii) any tax opinion or tax advice. Additionally, none of the Uncertain Tax Positions services shall be deemed to be or constitute a tax opinion or tax advice.

 (a) The Trust shall provide such information and documentation as BNY Mellon may reasonably request in connection with
the Uncertain Tax Positions services. The Trust’s independent public accountants shall cooperate with BNY Mellon and make such information available to BNY Mellon as BNY Mellon may reasonably request. 

(b) Notwithstanding anything to the contrary in this Agreement and without limiting any rights, protections or limitations of liability
otherwise provided to BNY Mellon pursuant to this Agreement, (i) BNY Mellon is authorized and permitted to release such information as is necessary or desirable to be released in connection with the provision of any of the Uncertain Tax
Positions services, (ii) management of the Trust is responsible for complying with all uncertain tax positions reporting obligations relating to the Trust and BNY Mellon shall have no liability to the Trust or any other entity or governmental
authority with respect to any tax positions taken by the Trust, (iii) BNY Mellon shall have no liability either for any error or omission of any other service provider (including any accounting firm or tax adviser) to the Trust or for any
failure to discover any such error or omission, (iv) the Trust shall be responsible for all filings, tax returns and reports on all Tax Positions and for the payment of all taxes and similar items (including without limitation penalties and
interest related thereto) and (v) in the event of any error or omission in the performance of a Uncertain Tax Positions service the Trust’s sole and exclusive remedy and BNY Mellon’s sole liability shall be limited to re-performance of the applicable Uncertain Tax Positions service and the preparation and delivery to the Trust of a corrected report (if necessary), such re-performance,
preparation and delivery to be provided at no additional service charge to the Trust. 

  
 - 5 - 

 FUND ADMINISTRATION SERVICES 

BNY Mellon shall provide the following fund administration services for the Trust: 

 

	 	•	 	In accordance with Instructions received from the Trust, and subject to portfolio limitations as provided by the Trust to BNY Mellon in writing from time to time, monitor the Trust’s compliance, on a post-trade
basis, with such portfolio limitations, provided that BNY Mellon maintains in the normal course of its business all data necessary to measure the Trust’s compliance; 

 

	 	•	 	Establish appropriate expense accruals and compute expense ratios, maintain expense files and coordinate the payment of Trust approved invoices; 

 

	 	•	 	Calculate Trust approved income and per share amounts required for periodic distributions to be made by the Trust; 

  

	 	•	 	Calculate total return information; 

  

	 	•	 	Coordinate the Trust’s annual audit; 

  

	 	•	 	Supply various normal and customary portfolio and Trust statistical data as requested on an ongoing basis; and 

IRS CIRCULAR 230 DISCLOSURE: 
 To
ensure compliance with requirements imposed by the Internal Revenue Service, BNY Mellon informs the Trust that any U.S. tax advice contained in any communication from BNY Mellon to the Trust (including any future communications) is not intended or
written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein or therein. 

REGULATORY ADMINISTRATION SERVICES 

BNY Mellon shall provide the following regulatory administration services for the Trust: 

 

	 	•	 	Maintain a regulatory calendar for the Trust listing various SEC filing and approval deadlines; 

  

	 	•	 	Prepare and coordinate the filing of annual post-effective amendments to the Trust’s registration statement (not including the initial registration statement or related to the addition of one or more classes of
shares or series); 

  

	 	•	 	Assist the Trust in the handling of SEC examinations by providing requested documents in the possession of BNY Mellon that are on the SEC examination request list; and 

 

	 	•	 	Assist in the preparation of notices of annual or special meetings of shareholders and proxy materials relating to such meetings1. 

 

	1 	Separate fees will apply for the noted services. 

  
 - 6 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00266-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00266-of-00352.parquet"}]]