CurrencyShares Canadian Dollar Trust (the Trust) is a grantor trust. The Trust issues shares (the Shares) in blocks of 50,000 (a Basket) in exchange for deposits of Canadian dollars and distributes Canadian dollars in connection with the redemption of Baskets. The investment objective of the Trust is for the Shares to reflect the price of Canadian Dollars plus accrued interest, less the expenses of the Trust’s operations. The Shares are intended to offer investors an opportunity to participate in the market for the Canadian Dollar through an investment in securities. The Shares are backed by the assets of the Trust, which does not hold or use derivative products.