AMENDMENT 5 TO THE SEVICE AGREEMENT WITH THE ADMINISTRATOR

Exhibit (h)(3)

AMENDMENT 5 TO THE SEVICE AGREEMENT WITH THE ADMINISTRATOR

This amendment (the “Amendment”) between the parties signing below (the “Parties”) amends the Existing Agreement as of July ___, 2023 (the “Effective Date”):

Term		Means
“Existing Agreement”		The Services Agreement by and among ALPS, Trust and Investment Adviser, dated January 27, 2021, as amended
“ALPS”		ALPS Fund Services, Inc.
“Trust”		GraniteShares ETF Trust
“Investment Adviser”		GraniteShares Advisors LLC

Except as amended hereby, all terms of the Existing Agreement remain in full force and effect. This Amendment includes the amendments in Schedule A and general terms in Schedule B.

IN WITNESS WHEREOF, the Parties have executed this Amendment by their duly authorized representatives.

ALPS Fund Services, Inc.			GraniteShares ETF Trust
By:	/s/ Xxxxxxx Xxxxxxxxx		By:	/s/ Xxxxxxx Xxxxx
Name:	Xxxxxxx Xxxxxxxxx		Name:	Xxxxxxx Xxxxx
Title:	Authorized Representative		Title:	President
GraniteShares Advisors LLC
By:	/s/ Xxxxxxx Xxxxx
Name:	Xxxxxxx Xxxxx
Title:	CEO