BMCS Sumcoin Index Fund

the investment objective of the trust company is for the shares to reflect the value of the sumcoins held by the trust, determined by reference to the sumcoin index price, less the trust’s expenses and other liabilities. the shares are intended to constitute a cost-effective and convenient means of gaining investment exposure to sumcoin. a substantial direct investment in sumcoins may require expensive and sometimes complicated arrangements in connection with the acquisition, security, and safekeeping of the sumcoins and may involve the payment of substantial fees to acquire such sumcoins from third-party facilitators through cash payments of u.s. dollars. although the shares will not be the exact equivalent of a direct investment in sumcoins, they provide investors with an alternative that constitutes a relatively cost-effective way to participate in sumcoin markets through the securities market. because the value of the shares is correlated with the value of the sumcoins held by the