Designed for institutional and accredited individual investors with or seeking exposure to Bitcoin. The Trust features an actively managed systematic strategy that looks to manage downside risks and maintain substantial exposure to upside potential while seeking to defer taxable events for investors.
1.The Trust has been specifically structured to have the ability to accept in-kind subscriptions of Bitcoin without triggering a taxable event for the investor under current law. The Trust may delay the acceptance of in-kind subscriptions in order to help maintain tax-efficiency.
2. The Trust’s quantitative risk management process utilizes systems originally developed for Cambrian’s flagship hedge fund product, which has traded a total of $3B+ in Bitcoin and Ether since its launch in November 2018.
3.The Trust does not currently operate a redemption program.
Cambrian intends to apply to have the Trust’s shares approved for public quotation on OTC Markets approximately 12 months after the initial subscription date. If approved for public quotation, the Trust expects to become the first Bitcoin risk-managed investment vehicle available to public market investors. Investors subscribing directly for shares in the Trust will be required to hold those shares for a minimum period of 12 months and one day to be eligible to resell shares in the public market that may develop.
If the Trust is unsuccessful in developing public quotation for Trust shares, then the Trust intends to offer a redemption program.
“In-kind” contributions structured to not trigger a tax event
A systematic strategy designed to capture upside whilst limiting drawdowns
Anticipated future quotation on OTCQX would provide public market liquidity
The Trust’s quantitative active management utilizes the systems from Cambrian’s Hedge Fund, which has traded $3B+ of BTC and ETH since November 2018. The Cambrian figures shown are the actual performance of the Trust’s strategy executed within our affiliated hedge fund from November 2018 through October 10, 2021, net of estimated Trust fees, and thereafter the actual performance of the Trust itself. The affiliated hedge fund also executed other strategies during the referenced period, and the total performance of that fund differed from the figures shown above. Some of these returns are the result of extraordinary market events and are not expected to be repeated. Past performance is not indicative of future results and the performance shown above may be lower or higher than the future performance of the Trust.
Cambrian’s quantitative active risk management process protected investors in our affiliated hedge fund from the largest monthly drawdowns in Bitcoin, while generating returns since November 2018 that are close to those of a passive Bitcoin investor. The net result is a significant improvement of the risk-adjusted return of investing in Bitcoin and a material reduction in the downside risks associated with investing passively in BTC. The performance data shown reflects the actual performance of the Trust’s strategy as executed by Cambrian’s affiliated hedge fund from November 2018 through October 10, 2021, adjusted for the Trust’s estimated fees, and thereafter the actual performance of the Trust itself. The affiliated hedge fund also executed other strategies during the referenced period, and the total performance of that fund differed from the figures shown above. Some of these returns are the result of extraordinary market events and are not expected to be repeated. Past performance is not indicative of future results and the performance shown above may be lower or higher than the future performance of the Trust.
Cambrian's edge is honed on the real-time collection of direct market data and the rigorous application of scientific methods.
Cambrian’s quantitative systems and programmatic execution algorithms are informed by 7+ years of training data and $3.0B+ of actual trading across both Bitcoin and Ethereum since 2018. The same systems have been utilized by our affiliated hedge fund. Prior performance does not guarantee future results.
The officers of Cambrian Asset Management operate other fund vehicles and accounts, including a private hedge fund that uses similar strategies as the Trust. Because the officers of the Sponsor may trade Bitcoin, Ethereum or other digital assets for themselves or other fund vehicles and accounts (subject to certain internal trading policies and procedures) at the same time that they are managing the account of the Trust, prospective investors should be aware that the activities of the officers of Cambrian, subject to their fiduciary duties, may, from time‑to‑time, result in taking positions in their other trading accounts which are opposite of the positions taken for the Trust.Carefully consider each Trust’s investment objectives, risk factors, fees and expenses before investing. This and other information can be found in each Trust’s private placement memorandum, which may be obtained from Cambrian Asset Management. There can be no assurance that Cambrian Asset Management's objectives will be achieved or investment strategies will be successful. Past performance is not indicative of future results.
Investments in the Trusts are speculative investments that involve high degrees of risk, including a partial or total loss of invested funds. Cambrian Asset Management’s Trusts are not suitable for any investor that cannot afford loss of the entire investment. The shares of each Trust are intended to reflect the price of the assets held by such Trust, less such Trust’s expenses and other liabilities. Because each Trust does not currently operate a redemption program, there can be no assurance that the value of such Trust’s shares will reflect the value of the assets held by such Trust, less such Trust’s expenses and other liabilities, and the shares of such Trust, if traded on any secondary market, may trade at a substantial premium over, or a substantial discount to, the value of the assets held by such Trust, less such Trust’s expenses and other liabilities, and such Trust may be unable to meet its investment objective.
Cambrian Asset Management and its officers do not make any representation or warranty to any prospective investor regarding the legality of an investment by such person under applicable securities or other laws. An offering of securities will only be made pursuant to a confidential private placement memorandum and the governing documents of the Trust, each of which will be furnished on a confidential basis to qualified, “accredited investors” as defined in Rule 501(a) of Regulation D under the Securities Act of 1933 (the “Securities Act”). This information should not be relied upon as research, legal, tax or investment advice, or a recommendation regarding any Trusts, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.
The shares of each Trust are not registered under the Securities Act, the Securities Exchange Act of 1934, the Investment Company Act of 1940, or any state securities laws. The Trusts are offered in private placements pursuant to the exemption from registration provided by Rule 506(c) under Regulation D of the Securities Act and are only available to accredited investors. As a result, the shares of each Trust are restricted and subject to significant limitations on resales and transfers. Potential investors in any Trust should carefully consider the long-term nature of an investment in that Trust prior to making an investment decision.
“Cambrian Asset Management” name and logo are trademarks and properties of Cambrian Asset Management, Inc. Cambrian Asset Management is comprised of Cambrian Asset Management, Inc. and its affiliates.
