ARCA Investment Management LLC

ITEM 5 FEES AND COMPENSATION
The fees applicable to a client, which may include a management fee (“Management Fee”) and a performance-based
incentive allocation (“Performance Allocation” and together with the Management Fee, the “Fees”), are detailed in each
Fund’s offering documents and each SMA client’s investment management agreement, as applicable (the “Governing
Documents”). The Fees described below for the Funds may be waived in AIM’s discretion for investors that are
members, employees, or affiliates of AIM, as well as for relatives of such persons. AIM does not accept any other
compensation in connection with its advisory business.
SMA Fees and payment terms applicable to each SMA client are negotiated directly with each client.

Management Fee and Performance Allocation

AIM receives compensation in the form of asset-based Management Fees for managing Fund investments in the Arca
Digital Assets Fund (Master Fund), the Arca Endeavor Fund, and the Arca Crypto Medallion Fund. Limited partners
(each, a “Limited Partner”) in the Arca Digital Assets Fund feeder funds, the Arca Endeavor Fund, and the Arca Crypto
Medallion Fund are charged a Management Fee, in advance, based on the capital account balance as of the last business
day of each preceding calendar quarter, of up to 0.5% (2% annualized), in addition to a Performance Allocation as
discussed below. AIM does not charge any Management Fee to the NFT Funds.

Limited Partners in the BlockTower Feeder Funds are charged a Management Fee, in advance, based on the capital
account balance as of the last business day of each preceding month, of up to 2.5% annualized, in addition to a
Performance Allocation as discussed below. These Fees are detailed in the BlockTower Feeder Funds investment
management agreements (as assigned to AIM following the Transaction).

Performance Allocations are calculated quarterly and are based on net profits subject to a loss carryforward mechanism
commonly referred to as a “High Water Mark.” If applicable, other than the BlockTower Feeder Funds (see below),
each Fund’s general partner will receive a Performance Allocation that is aggregated and crystallized each quarter and
paid from the respective Fund in an amount of up to 25% of net realized and unrealized returns of each Limited Partner’s
capital account during the period since the immediately preceding Performance Allocation was made (or if no
Performance Allocation was made, the date the relevant capital account was established) and after the allocation of any
appreciation or depreciation for the relevant accounting period.

Performance Allocations for the BlockTower Feeder Funds are aggregated and crystallized annually in an amount of up
to 25% of net realized and unrealized returns of each Limited Partner’s capital account during the period since the
immediately preceding annual period, and after the allocation of any expenses for the relevant accounting period.

In addition, clients are also subject to additional fees, expenses and transaction costs relating to investments including,
without limitation, organizational, reorganizational and offering expenses including, without limitation, related travel,
lodging and meal expenses, investment related fees and expenses incurred in connection with the evaluation, acquisition
or disposition of investments (whether or not consummated), including, without limitation, trading related expenses
(including any applicable commissions and brokerage charges, clearing expenses, interest expense, stock borrowing fees,
and related items) and related software expenses; fees and expenses of any external consultants and administrators;
Securities and Exchange Commission (“SEC”) and other reporting and filing expenses and costs incurred by a Fund’s
general partner in connection with its investment activities for a Fund, including Form PF expenses; due diligence and
investment-related travel expenses; government expenses; taxes; administrative expenses, legal expenses, and external
accounting expenses, including the fees of a third party administrator; research and market data expenses; audit and tax
preparation expenses; costs of valuing a Fund’s portfolio, including the use of third-party pricing services or valuation
agents; costs of reports and other communications to limited partners in a Fund; corporate licensing; custodial fees;
directors’ and officers’ liability insurance; insurance related to loss of cryptocurrencies; expenses incurred in negotiating

and complying with side letters, if any; the Management Fee (as applicable); liquidation costs; indemnification expenses
and other extraordinary expenses; and other expenses associated with the operation of a Fund, and other fees described
in the Governing Documents.

Terms of Redemption Applicable to Limited Partners in the Funds
No Limited Partner will be permitted to withdraw from a Fund or from a BlockTower Feeder Fund (either, a “Fund”)
except in limited circumstances as set forth in the relevant Fund’s Governing Documents. Investments in the Funds
may incur an early withdrawal charge of up to 4%, commonly referred to as a “soft lock” and may be subject to a
withdrawal gate (typically no more than 25% of the Fund’s net asset value at the discretion of the Fund’s general partner)
and other withdrawal restrictions.

ITEM 7 TYPES OF CLIENTS
AIM’s clients include the Funds and an SMA client. The Funds are privately offered pooled investment vehicles, and the
Limited Partners in the Funds consist primarily of endowments, foundations, family offices, and employees or affiliates of
AIM. The current minimum amount for an initial investment in the Funds ranges from USD $100,000 to $5,000,000, and
is set forth in the Governing Documents applicable to each investor and/or client. These minimum investment amounts
may be waived in AIM’s discretion for investors that are members, employees, strategic partners, or affiliates of AIM. Such
waivers have been made for certain current Limited Partners in the Funds who are members, employees, and/or strategic
partners of AIM.