Our current Bitcoin strategy operates within the broader Ethereum strategy — meaning BTC exposure is kept inside the ETH fund during the accumulation phase.
To limit tail risk, we grow the position organically by reinvesting a portion of weekly options premiums into spot BTC purchases.
Additionally, we may selectively sell small 1-DTE cash-secured puts to enhance yield, acknowledging the associated tail risk.
Beginning February 27, 2026, 1% of weekly options premiums from Ethereum strategy is allocated to spot Bitcoin, with the allocation increasing by 1 percentage point each week over a 52-week period.