QXAS

ABOUT THIS FUND

QXAS seeks 2x daily exposure to the largest crypto assets, excluding Bitcoin (BTC), stablecoins, and memecoins. It does not hold crypto directly, but gains exposure via swaps, options, futures contracts, or ETPs, targeting up to 10 crypto assets traded in US exchanges. The fund uses options contracts for leveraged exposure, allowing dynamic adjustments based on market conditions, liquidity, or pricing. The fund buys standardized, cash-settled futures to manage contango and backwardation and invests in ETPs for long exposure. The fund holds cash and cash-like instruments as collateral and may enter reverse repurchase agreements. Up to 25% of assets may be invested through a wholly owned Cayman Islands subsidiary. The market cap-weighted portfolio is reviewed and rebalanced at least monthly, capping each asset at 50%. The actively managed fund has full discretion to adjust at any time. Daily leverage resets may cause long-term returns to differ from the underlying assets.