The value of a Spot Bitcoin ETP security may be more volatile than the market as a whole and may perform differently from the value of the market as a whole. The Fund will have significant exposure to the Bitcoin Futures ETF through its options positions. Bitcoin is a relatively new innovation and the market for bitcoin is subject to rapid price swings, changes and uncertainty. Additionally, the bitcoin futures contracts held by the Bitcoin Futures ETF are subject to liquidity risk. The fund is new and has a limited operating history. The fund does not invest directly in Bitcoin.