Simplify US Equity PLUS GBTC ETF

The Simplify US Equity PLUS GBTC ETF investment objective seeks to provide capital appreciation by providing an efficient way for asset allocators to add Bitcoin exposure to portfolios Under normal circumstances, the Fund will invest at least 80 percentage of its net assets (plus any borrowings for investment purposes) in equity securities of U.S. companies and the Grayscale Bitcoin Trust. The Fund invests in equity securities of U.S. companies through (i) exchange-traded futures contracts, (ii) equity securities of U.S. companies, and (iii) ETFs that primarily invest in the equity securities of U.S. companies.