21Shares Polkadot Staking ETF Switches to FTSE Benchmark; Name Change

What Happened

• 21Shares US LLC (the Sponsor) entered a Benchmark Licensing Agreement with FTSE International Limited on August 20, 2026. The Trust will begin valuing its shares and calculating NAV by reference to the FTSE Polkadot Index (the Pricing Benchmark) starting August 27, 2026, replacing the CME CF Polkadot‑Dollar Reference Rate — New York Variant (termination of the prior license was disclosed June 30, 2026, effective August 31, 2026).
• The Sponsor and the Trust made two related changes in late August 2026: the Trust’s name was changed from “21Shares Polkadot ETF” to “21Shares Polkadot Staking ETF” (Certificate of Amendment filed August 25, 2026), and the Trust and Sponsor executed a Fourth Amended and Restated Trust Agreement (dated August 26, 2026) to reflect the benchmark switch, the name change, and other conforming updates.

Key Details

• Benchmark Licensing Agreement with FTSE dated August 20, 2026; license is non‑exclusive, non‑transferable, worldwide, with a one‑year initial term and automatic one‑year renewals.
• NAV valuation will reference the FTSE Polkadot Index beginning August 27, 2026.
• Sponsor fee timing changed via Amendment No. 1 to the Sponsor Agreement (dated August 26, 2026): payment timing moved from weekly in arrears to at least quarterly in arrears; Sponsor Fee continues to be payable in DOT.
• Trust formalized changes in a Fourth Amended and Restated Trust Agreement dated August 26, 2026; filing states revisions do not materially impact holders’ rights.

Why It Matters

• The change of pricing benchmark and NAV reference (to the FTSE Polkadot Index) can affect how the ETF’s NAV and share price track the underlying market because different benchmarks may use different data sources or calculation methods. Investors should note the effective NAV change date: August 27, 2026.
• The sponsor fee payment timing moving from weekly to quarterly (paid in DOT) affects the timing of fee distribution but not necessarily the fee amount; this is an operational change investors may want to monitor.
• The formal name change to “21Shares Polkadot Staking ETF” and the updated trust agreement reflect the fund’s operational and administrative updates; the filing says these revisions are primarily technical and do not materially change shareholder rights.