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lotter on DSK11XQN23PROD with NOTICES1

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Federal Register / Vol. 86, No. 172 / Thursday, September 9, 2021 / Notices
redeem Shares on a continuous basis at the NAV per Share only in large, specified blocks each consisting of a certain number of Shares each such block of shares called a Creation Unit, and collectively, the Creation Units in transactions with broker-dealers and large institutional investors that have entered into participation agreements Authorized Participants. It is currently anticipated that a Creation Unit will consist of 50,000 Shares, although this number may change from time to time. It is currently expected that the Trusts Creation Units will generally be issued and redeemed for cash. Except when aggregated in Creation Units, the Shares are not redeemable securities. Once created, Shares of the Trust may trade on the secondary market in amounts less than a Creation Unit.
Creation Procedures. On any Business Day, an Authorized Participant may place an order to create one or more Creation Units. Purchase orders must be placed by 2:00 p.m. Eastern time. The cut-off time may be earlier if, for example, the Exchange or another exchange material to the valuation or operation of the Trust closes before the cut-off time. If a purchase order is received prior to the applicable cut-off time, the day on which the Marketing Agent receives a valid purchase order is the purchase order date. If the purchase order is received after the applicable cut-off time, the purchase order date will be the next Business Day. Purchase orders are irrevocable. By placing a purchase order, and prior to delivery of such Creation Units, an Authorized Participants DTC account will be charged the non-refundable transaction fee due for the purchase order.
Redemption Procedures. On any Business Day, an Authorized Participant may place an order with the Marketing Agent to redeem one or more Creation Units. Redemption orders must be received prior to 2:00 p.m. Eastern time, or earlier if, for example, the Exchange or another exchange material to the valuation or operation of the Trust closes before the cut-off time. If a redemption order is received prior to the applicable cut-off time, the day on which the Marketing Agent receives a valid redemption order is the redemption order date. If the redemption order is received after the applicable cut-off time, the redemption order date will be the next day.
Redemption orders are irrevocable.
Individual shareholders may not redeem directly from the Trust.
By placing a redemption order, an Authorized Participant agrees to deliver the Creation Units to be redeemed
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through DTCs book-entry system to the applicable Trust not later than noon Eastern time, on the first Business Day immediately following the redemption order date T+1. The Sponsor reserves the right to extend the deadline for the Trust to receive the Creation Units required for settlement up to the second Business Day following the redemption order date T+2. By placing a redemption order, and prior to receipt of the redemption proceeds, an Authorized Participant must wire to the Custodian the non-refundable transaction fee due for the redemption order or any proceeds due will be reduced by the amount of the fee payable. At its sole discretion, the Sponsor may agree to a delivery date other than T+2. Additional fees may apply for special settlement.
Upon the request of an Authorized Participant made at the time of a redemption order, the Sponsor at its sole discretion may determine, in addition to delivering redemption proceeds, to transfer futures contracts to the Authorized Participant pursuant to an exchange of a futures contract for related position EFCRP or to a block trade sale of futures contracts to the Authorized Participant.

Exchanges Regular Market Session 9:30 a.m. to 4:00 p.m. Eastern time.66
The IIV will be calculated by using the prior days closing NAV per Share as a base and updating that value during the Exchanges Regular Market Session to reflect changes in the value of the Trusts NAV during the trading day.
The IIV disseminated during the Exchanges Regular Market Session should not be viewed as an actual realtime update of the NAV, which will be calculated only once at the end of each trading day. The IIV will be widely disseminated on a per Share basis every 15 seconds during the Exchanges Regular Market Session by one or more major market data vendors. In addition, the IIV will be available through on-line information services.
The NAV for the Trust will be calculated by the Sponsor once a day and will be disseminated daily to all market participants at the same time.
Quotation and last-sale information regarding the Shares will be disseminated through the facilities of the Consolidated Tape Association CTA.
Initial and Continued Listing
The Trusts website www.valkyriefunds.io will include quantitative information on a per Share basis updated on a daily basis, including i the current NAV per Share daily and the prior business days NAV
and the reported closing price; ii the mid-point of the bid-ask price 65 in relation to the NAV as of the time the NAV is calculated Bid-Ask Price and a calculation of the premium or discount of such price against such NAV; and iii data in chart format displaying the frequency distribution of discounts and premiums of the daily Bid-Ask Price against the NAV, within appropriate ranges, for each of the four previous calendar quarters or for the life of the Trust, if shorter. In addition, on each business day the Trusts website will provide pricing information for the Shares. Also, an estimated value that reflects an estimated intraday value of the Trusts portfolio the Intraday Indicative Value, will be disseminated.
The Trusts website will provide an intra-day indicative value IIV per Share updated every 15 seconds, as calculated by the Exchange or a thirdparty financial data provider during the
The Shares will be subject to Nasdaq Rule 5711gvi, which sets forth the initial and continued listing criteria applicable to Commodity Futures Trust Shares. The Exchange will obtain a representation that the Trusts NAV will be calculated daily and will be made available to all market participants at the same time. Upon termination of the Trust, the Shares will be removed from listing. The Trustee, Delaware Trust Company, is a trust company having substantial capital and surplus and the experience and facilities for handling corporate trust business, as required under Nasdaq Rule 5711gviD and no change will be made to the trustee without prior notice to and approval of the Exchange.
As required in Nasdaq Rule 5711gvii, the Exchange notes that any registered market maker Market Maker in the Shares must file with the Exchange, in a manner prescribed by the Exchange, and keep current a list identifying all accounts for trading the underlying commodity, related futures or options on futures, or any other related derivatives, which the registered Market Maker may have or over which it may exercise investment discretion.
No registered Market Maker in the Shares shall trade in the underlying
65 The bid-ask price of the Trust is determined using the highest bid and lowest offer on the Consolidated Tape as of the time of calculation of the closing day NAV.

66 The IIV on a per Share basis disseminated during the Regular Market Session should not be viewed as a real-time update of the NAV, which is calculated once a day.

Availability of Information
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