HBTC – Fortuna Hedged Bitcoin – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to achieve long-term capital appreciation. The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective primarily through its options on exchange-traded products that hold bitcoin directly (“bitcoin ETPs”). Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of borrowings for investment purposes), directly or indirectly, in investments that provide exposure to bitcoin and/or bitcoin-related investments. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
HBTC	Fortuna Hedged Bitcoin Fund	ETF	Open	—	—	Mar 18, 2025	$838,697.00	1.970%	—	—	$168,971.83

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