| PERCENTAGE OF NET ASSETS |
NAME |
TICKER |
IDENTIFIER |
SHARES HELD |
MARKET VALUE |
| Data as of TBD |
Holdings are subject to change. Current and future holdings are subject to risk.
Investing involves risk, including possible loss of principal. There can be no assurance that the fund
will achieve its investment objective.
Investors should consider the investment objectives, risks, charges, and expenses carefully
before investing. For a prospectus or summary prospectus with this and other information about
the Fund, please call 1.844.282.3837 (1.844.BTC.ETFs) or visit our
website at www.cyberhornetetfs.com. Read the
prospectus or summary prospectus carefully before investing.
Important Risk Information
Bitcoin and Bitcoin futures contracts are relatively new investments. They are subject to unique and
substantial risks, and historically, have been subject to significant price volatility. The value of an
investment in the Fund could decline significantly and without warning. You should be prepared to lose
the entirety of the Bitcoin component of your investment in the Fund. The performance of Bitcoin futures
contracts and therefore the performance of the Fund may differ significantly from the performance of
Bitcoin.
Bitcoin Futures Risks. Bitcoin Futures expose the Fund to the following risks:
- Historically, Bitcoin, and Bitcoin Futures have been subject to significant price volatility. The
price of
Bitcoin Futures may differ significantly from the spot price of Bitcoin and changes in the price of
Bitcoin
Futures may happen rapidly and without notice.
- The market for Bitcoin Futures is less developed than older, more established futures markets (such
as
corn or wheat futures) and may be more volatile and less liquid than other futures markets. Although
this
market has grown since Bitcoin Futures were initially developed, there is no guarantee that the
market will
continue to develop in ways that support the continued growth and operation of the Fund.
- The value of Bitcoin depends on the development and acceptance of the Bitcoin network. The slowing
or stopping of the development or acceptance of the Bitcoin network may adversely affect an
investment
in the Fund.
- New competing digital assets may pose a challenge to Bitcoin’s current market position, resulting in
a
reduction in demand for Bitcoin, which could have a negative impact on the price of Bitcoin and
Bitcoin
Futures, and thus a negative impact on the performance of the Fund.
Market Risk: The market values of the portfolio’s holdings rise and fall from day to day, so
investments
may lose value. Equity Securities Risk: The Fund invests in publicly traded equity securities,
and their
value may fluctuate, sometimes rapidly and unpredictably, which means a security may be worth more or
less than when it was purchased. Liquidity Risk: Liquidity risk is the risk that the Fund might
not be able
to sell an investment without significantly changing the value of the investment on the Fund’s books.
Liquidity risk can be elevated by market disruptions or volatility, and during these periods, it may be
difficult or impossible for the Fund to buy or sell an investment, including in Bitcoin Futures, at a
desired
price. Derivatives Risk: The Fund’s use of derivatives (in the form of Bitcoin Futures) presents
risks
different than investing directly in traditional securities. Using derivatives can lead to losses
because of
adverse movements in the price or value of the underlying reference asset, which may be magnified by
features of the derivatives. New Fund Risk: The Fund is a newly organized, non-diversified
management
investment company with no operating history. There can be no assurance that the Fund will grow to or
maintain an economically viable size, or that an active trading market for the Fund’s shares will
develop or
be maintained. Subsidiary Risk: The Fund expects to invest in the Bitcoin futures through a
whollyowned
subsidiary of the Fund, ONEFUND International Ltd, organized under the laws of the Cayman
Islands and advised by the Adviser. This Subsidiary is not subject to all of the investor protections of
the
Fund because it is not registered under The Investment Company Act of 1940. The Fund is exposed to
the Risk of the Subsidiary’s investments and will also incur the expenses of the Subsidiary. Changes in
the laws of the US or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary
to
operate as intended and could negatively affect the Fund and its shareholder. Correlation and
Tracking
Error Risk: Various factors may impede the Fund’s ability to track the Index or achieve a high
degree of
correlation with the Index. For example, the Fund has operating and other expenses, while the Index does
not. The Fund may not be fully invested at times, generally as a result of cash flows into or out of the
Fund or excess cash held by the Fund for various reasons, which could create cash drag. As a result, the
Fund may underperform the Index to some degree over time.
S&P 500 Index is a market-capitalization-weighted index of the 500 leading publicly traded companies in
the U.S. it is regarded as one of the best gauges of prominent American equities’ performance.
S&P CME Bitcoin Futures Index measures the performance of Bitcoin futures contract trading on the
Chicago Mercantile Exchange.
ZZZ is distributed by Foreside Fund Services, LLC.
