Corporate Reorganization of Grayscale Investments

Summary

On October 22, 2025, GSO Intermediate Holdings Corporation (GSOIH) completed an internal corporate reorganization. GSOIH transferred a portion of its common membership units of Grayscale Operating, LLC (GSO) for Class A shares of Grayscale Investments, Inc., and ceded its managing member rights in GSO to Grayscale Investments. The Board of Grayscale Investments, consisting of Barry Silbert, Mark Shifke, Simon Koster, Peter Mintzberg, and Edward McGee, is now responsible for managing the affairs of the Sponsor. The reorganization does not expect to have any material impact on the operations of the Trust.