The Fund is an actively managed exchange-traded fund (ETF) that seeks to provide investment results that, before taking total fund operating fees and expenses into account, track the positive price return of Spot bitcoin up to the Cap over a specified period of time of approximately one (1) year (the Outcome Period), while seeking to provide downside protection against decreases in the price of Spot bitcoin exceeding 20 (the Floor) over the same Outcome Period (before taking total fund operating fees and expenses into account). The Spot bitcoin price for determining the Cap for any Outcome Period will be determined by taking the BRRNY as of the first day of the Outcome Period. The BRRNY is a once a day benchmark index price for bitcoin that aggregates trade data from multiple bitcoin-USD markets operated by major cryptocurrency exchanges that conform to the CME CF Constituent Exchange Criteria.