| Investment Objective: |
The Fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in the economic equivalents of bitcoin by investing in one or more Reference ETPs that invest directly in bitcoin and financial instruments that provide 200% daily exposure to the Reference ETPs. The financial instruments in which the Fund normally invests will include uncleared, cash-settled swap agreements, which are intended to produce economically leveraged investment results. The Fund intends to utilize the iShares Bitcoin Trust ETF as the initial Reference ETP, although the Fund may use other Reference ETPs. Bitcoin is a digital asset. The Fund will invest up to 25% of its total assets in a wholly owned and controlled subsidiary (the "Subsidiary"). The Fund's investment in the Subsidiary is expected to provide the Fund with exposure to the Reference ETPs in a manner that is permitted by the federal tax laws, which limit the ability of investment companies such as the Fund to invest directly in such instruments. |
