CoinShares Digital Securities Limited, GB00BNRRFW10

CoinShares Digital Securities Limited, GB00BNRRFW10

14.09.2022 - 15:48:52

CoinShares Digital Securities Limited: Merge Update - CoinShares Physical Ethereum ETP

September 14, 2022

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CoinShares Digital Securities Limited

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CoinShares Digital Securities Limited (the "Issuer") announces developments relevant to its CoinShares Physical Ethereum securities.

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The Issuer has been closely following the developments in the Ethereum protocol, with respect to both the proposed move (the "Merge") to a Proof of Stake consensus network (the "ETHPoS") as well as the proposed fork (the "Fork") of the existing Proof of Work consensus network (the "ETHPoW").? As a result of the Fork, the Issuer understands that a new Digital Currency ("ETHW") will be created and distributed pro rata to all holders of the existing Ether Digital Currency (ETH).??

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The Fork will constitute a Fork Event for the purposes of the Conditions.? The Issuer expects, to the extent possible,? to share the ETHW with Security Holders of CoinShares Physical Ethereum pursuant to Condition 15.4 of the Conditions of the Digital Securities.? However, the Issuer notes (i) that the markets for both ETHW and ETH may experience significant price volatility during the Merge, and (ii) that the new protocol for ETHW may experience risks associated with the stability of the technology underpinning the protocol as well as risks to the adoption of ETHW among exchanges and custodians.? As a result, the Issuer will continue to monitor the situation for ETHW, with a focus on the timing, adoption and viability of the new protocol and underlying digital currency before finalising any approach to a distribution associated with a Fork Event.?

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Terms used in this announcement and not otherwise defined bear the same meanings as used in the base prospectus of the Issuer dated April 20, 2022.

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This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact?rns@lseg.com?or visit?www.rns.com.

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End of Inside Information Language: English Company: CoinShares Digital Securities Limited 2 Hill Street JE2 4UA St Helier

Jersey Guernsey Phone: +44 1534513100 E-mail: physical@coinshares.com Internet: https://coinshares.com/ ISIN: GB00BNRRFW10, GB00BMWB4803, GB00BNRRF659, GB00BNRRFY34 Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; SIX Swiss Exchange EQS News ID: 1442549 ? End of Announcement EQS News Service

1442549??14-Sep-2022?CET/CEST

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