Exchange Traded Concepts to Close and Liquidate the BTD Capital Fund ETF (DIP)

OKLAHOMA CITY, May 16, 2024 /PRNewswire/ -- The Board of Trustees of ETF Series Solutions, upon a recommendation from Exchange Traded Concepts, LLC, the investment adviser to the BTD Capital Fund (the "Fund"), has determined to close and liquidate the Fund immediately after the close of business on May 30, 2024 (the "Liquidation Date"). Shares of the Fund are listed on the New York Stock Exchange.

Effective on or about May 22, 2024, the Fund will begin liquidating its portfolio assets. This will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the Fund's prospectus.

The Fund will no longer accept orders for new creation units after the close of business on the business day prior to the Liquidation Date, and trading in shares of the Fund will be halted prior to market open on the Liquidation Date. Prior to the Liquidation Date, shareholders may only be able to sell their shares to certain broker-dealers, and there is no assurance that there will be a market for the Fund's shares during that time period. Customary brokerage charges may apply to such transactions.

On or about the Liquidation Date, the Fund will liquidate its assets and distribute cash pro rata to all remaining shareholders. These distributions are taxable events. Distributions made to shareholders should generally be treated as received in exchange for shares and will therefore generally give rise to a capital gain or loss depending on a shareholder's tax basis. Shareholders should contact their tax advisor to discuss the income tax consequences of the liquidation. As calculated on the Liquidation Date, the Fund's net asset value will reflect the costs of closing the Fund, if any. Once the distributions are complete, the Fund will terminate. Proceeds of the liquidation will be sent to shareholders promptly after the Liquidation Date.

Please retain this Supplement with your Summary Prospectus, Prospectus, and SAI for future reference.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing.

For a prospectus or summary prospectus with this and other information about the Fund, please visit our website at www.kaiju.ai. Read the prospectus or summary prospectus carefully before investing.

Investing involves risk, including loss of principal. An investment in the Fund is subject to the following principal risks: Active Management Risk, "Buy the Dip" Risk, Cash and Cash Equivalents Risk, Equity Market Risk, ETF Risks, Investment Company Risk, Large Cap Risk, Models and Data Risk, New Fund Risk, Portfolio Turnover Risk, REIT Investment Risk, and Sector Risk. A full description of these risks is in the prospectus.

The Fund is distributed by Quasar Distributors, LLC. Exchange Traded Concepts, LLC (the "Adviser") serves as the Fund's investment adviser. Kaiju ETF Advisors, LLC (the "Sub-Adviser") serves as the Fund's investment sub-adviser.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

Investment Products and Services:

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

SOURCE Exchange Traded Concepts, LLC

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