Grayscale Filecoin Trust (FIL) is a statutory trust. The Trust’s investment objective is for the value of the shares (based on FIL per share) to reflect the value of FIL held by the Trust, less the Trust’s expenses and other liabilities. The activities of the Trust includes issuing baskets in exchange for FIL transferred to the Trust as consideration in connection with the creations; transferring or selling FIL, incidental rights and IR virtual currency as necessary to cover the sponsor’s fee and/or any additional trust expenses; transferring FIL in exchange for baskets surrendered for redemption; causing the sponsor to sell FIL, incidental rights and IR virtual currency on the termination of the Trust; making distributions of incidental rights and/or IR virtual currency or cash from the sale thereof, and engaging in all administrative and security procedures. The Trust’s sponsor is Grayscale Investments, LLC.