CLNK 10-K & 10-Q changes, risk factors and insider trading

For the Periodthree months ended June 30, 2026 and for the period from January 13, 2026 (commencement of operations) to MarchJune 31,30, 2026*

1. Net assets in the above table are calculated in accordance with U.S. GAAP based on the principal market price for Chainlink that the Trust considered its principal market, as of 4:00 p.m.,p.m. New York time,ET on the valuation date.

During the period ended MarchJune 31,30, 2026, the Trust's net assets increased from $200 on January 13, 2026 (commencement of operations) to $15,481,264 on March 31, 2026 to $19,912,357 on June 30, 2026. The increase in the Trust's net assets resulted primarily from additions of approximately 1,766,2591,001,198 Chainlink with a value of $18,323,320$8,989,917 in connection with Share creations during the period. ForAdditions were partially offset by dispositions to the period, there were no dispositionsTrust of approximately (1,051) Chainlink to pay the Sponsor Fee orwith fora value of $(9,483) during the redemption of Shares.period.

Net realized and change in unrealized loss on investment in Chainlink for the three months ended MarchJune 31,30, 2026 was $(2,842,0564,543,574), which included a realized gain of $1,003 on the transfer of Chainlink to pay the Sponsor Fee, and a change in unrealized depreciation on investment in Chainlink of $(2,842,0564,544,577). There were no realized gains or losses for sales of Chainlink for the redemption of Shares or for the transfer of Chainlink to pay the Sponsor Fee.Shares. Net realized and change in unrealized loss on investment in Chainlink for the period resulted primarily from Chainlink price depreciation from $13.73 on January 13, 2026 (commencement of operations) to $8.77 on March 31, 2026 to $7.20 on June 30, 2026. Net decrease in net assets resulting from operations for the three months ended MarchJune 31,30, 2026 was $(2,842,0564,558,824), which consisted solely of the net realized and unrealized loss on investment in Chainlink.Chainlink Theless the Sponsor fee of $(6,98117,154) of which $1,904 was waived in its entirety for the period, as the Sponsor has agreed to waive the entire Sponsor Fee on the first $500 million of Trust assets for the three-month period starting on January 14, 2026, the day the Shares were initially listed on the Exchange, through April 13, 2026.waived.

As of MarchJune 31,30, 2026, the Trust held a net closing balance of 1,766,259.41922,766,406.1198 Chainlink with a total market value of $15,489,071$19,915,330 based on the LINKUSD_NY price of $8.76942,$7.20, used to determine the Trust's NAV. The total market value of the Trust's Chainlink held was $15,481,264$19,918,124 based on the price of Chainlink (Lukka Prime Rate) in the principal market (Coinbase) of $8.765,$7.20, used to determine the Trust's Principal Market NAV.

As of MarchJune 31,30, 2026, the Trust has not used, nor does it expect to use in the future, special purpose entities to facilitate off-balance sheet financing arrangements and has no loan guarantee arrangements or off-balance sheet arrangements of any kind other than agreements entered into in the normal course of business, which may include indemnification provisions related to certain risks service providers undertake in performing services which are in the best interests of the Trust. While the Trust’s exposure under such indemnification provisions cannot be estimated, these general business indemnifications are not expected to have a material impact on the Trust’s financial position.

Second, Lukka, Inc. sorts these Digital Asset Markets from high to low by market-based volume and level of activity of Chainlink traded on each Digital Asset Market. For the periodsix months ended MarchJune 31,30, 2026, this sort was performed for Digital Asset Markets for the period mid-Februarymid-May through mid-Marchmid-June 2026.

As of MarchJune 31,30, 2026, Lukka, Inc. included Binance, Bitfinex, Bitflyer, Bitstamp, Bullish, Bybit, Coinbase, Crypto.com, Gate.io, Gemini, HitBTC, Huobi, itBit, Kraken, KuCoin, LMAX, MEXC Global, OKX and Poloniex as its primary Exchange Markets in consideration.

At MarchJune 31,30, 2026, the principal market and the principal market price for Chainlink, which is composed of the majority of the Trust’s assets as of MarchJune 31,30, 2026, was Coinbase with a price of $8.77.$7.20.

The cost basis of the Chainlink received by the Trust in connection with a creation order is recorded by the Trust at the fair value of Chainlink at 4:00 p.m.,p.m. New York time,ET on the creation date for financial reporting purposes. The cost basis recorded by the Trust may differ from proceeds collected by the Authorized Participant from the sale of the corresponding Shares to investors.