Grayscale Avalanche Staking ETF Trust Agreement Amendment

Grayscale Investments Sponsors, LLC, as sponsor of Grayscale Avalanche Staking ETF, intends to enter into Amendment No. 2 to the Trust Agreement. This amendment will allow the Trust to commence regular distributions of net cash proceeds from staking rewards to shareholders, by requiring the Trust to convert Staking Consideration to cash at least quarterly and distribute the net proceeds. This change is intended to comply with IRS Revenue Procedure 2025-31 for grantor trust classification. The amendment also includes conforming changes to facilitate the Trust's staking program and distribution framework. Shareholders will receive twenty days' prior notice of this amendment, which is expected to take effect around August 7, 2026. Shareholders are advised to consult tax advisors regarding potential tax consequences.