Repurchase
Agreements
Each
of
the
Funds
may
enter
into
repurchase
agreements.
Repurchase
agreements
are
primarily
used
by
the
Funds
as
short
term
investments
for
cash
positions.
Under
a
repurchase
agreement,
a
Fund
purchases
one
or
more
debt
securities
and
simultaneously
agrees
to
sell
those
securities
back
to
the
seller
at
a
mutually
agreed-upon
future
price
and
date,
normally
one
day
or
a
few
days
later.
The
resale
price
is
greater
than
the
purchase
price,
reflecting
an
agreed-upon
market
interest
rate
during
the
purchaser’s
holding
period.
While
the
maturities
of
the
underlying
securities
in
repurchase
transactions
may
be
more
than
one
year,
the
term
of
each
repurchase
agreement
will
always
be
less
than
one
year.
The
Funds
follow
certain
procedures
designed
to
minimize
the
risks
inherent
in
such
agreements.
These
procedures
include
effecting
repurchase
transactions
generally
with
major
global
financial
institutions
whose
creditworthiness
is
monitored
by
the
Advisor.
In
addition,
the
value
of
the
collateral
underlying
the
repurchase
agreement
is
required
to
be
at
least
equal
to
the
repurchase
price,
including
any
accrued
interest
income
earned
on
the
repurchase
agreement.
The
Funds
may
invest
in
repurchase
agreements
through
joint
account
arrangements;
in
such
cases,
each
Fund
holds
a
pro
rata
share
of
the
collateral
and
interest
income
based
upon
the
dollar
amount
of
the
repurchase
agreements
entered
into
by
each
Fund.
The
collateral
underlying
the
repurchase
agreement
is
held
by
the
Fund’s
custodian.
A
repurchase
agreement
is
subject
to
the
risk
that
the
counterparty
to
the
repurchase
agreement
that
sells
the
securities
may
default
on
its
obligation
to
repurchase
them.
In
this
circumstance,
a
Fund
may
lose
money
because
it
may
not
be
able
to
sell
the
securities
at
the
agreed
upon
time
and
price,
the
securities
may
lose
value
before
they
can
be
sold,
the
selling
institution
may
declare
bankruptcy
or
the
Fund
may
have
difficulty
exercising
rights
to
the
collateral.
During
periods
of
high
demand
for
repurchase
agreements,
the
Funds
may
be
unable
to
invest
available
cash
in
these
instruments
to
the
extent
desired
by
the
Advisor.
On
February
29,
2024,
the
Funds
had
interest
in
joint
repurchase
agreements
with
the
following
counterparties,
for
the
time
periods
and
rates
indicated.
Amounts
shown
in
the
table
below
represent
Principal
Amount,
Cost
and
Value
for
each
respective
repurchase
agreement.
Each
Repurchase
Agreement
was
fully
collateralized
by
U.S.
government
and/or
agency
securities
at
February
29,
2024
as
follows:
Fund
Name
A
Bank
of
America
Securities,
Inc., 5.3%,
dated
02/29/2024
due
03/01/2024
(a)
Barclays
Capital,
Inc., 5.2%,
dated
02/29/2024
due
03/01/2024
(b)
Barclays
Capital,
Inc., 5.28%,
dated
02/29/2024
due
03/01/2024
(c)
BNP
Paribas
Securities
Corp.,
5.3%,
dated
2/29/2024
due
03/01/2024
(d)
ING
Financial
Markets
LLC,
5.3%,
dated
02/29/2024
due
03/01/2024
(e)
Total
Bitcoin
&
Ether
Equal
Weight
Strategy
ETF
...........
$
437,597
$
63,650
$
251,370
$
1,511,698
$
628,547
$
2,892,862
Bitcoin
&
Ether
Market
Cap
Weight
Strategy
ETF
.......
631,541
91,861
362,778
2,181,689
907,123
4,174,992
Bitcoin
Strategy
ETF
..........................
127,129,207
18,491,521
73,027,176
439,173,623
182,603,770
840,425,297
Ether
Strategy
ETF
...........................
5,393,111
784,453
3,097,980
18,630,747
7,746,469
35,652,760
Short
Bitcoin
Strategy
ETF
......................
9,251,130
1,345,619
5,314,151
31,958,447
13,287,986
61,157,333
Short
Ether
Strategy
ETF
.......................
117,414
17,077
67,446
405,571
168,649
776,157
$
142,960,000
$
20,794,181
$
82,120,901
$
493,861,775
$
205,342,544
$
945,079,401
(a)
U.S.
Treasury
Bonds,
0%
to
4.75%,
due
8/15/2033
to
8/15/2048;
U.S.
Treasury
Notes,
0.13%
to
4.88%,
due
8/31/2024
to
1/15/2030,
which
had
an
aggregate
value
at
the
Trust
level
of
$561,000,000.
(b)
U.S.
Treasury
Notes,
4.88%,
due
10/31/2030,
which
had
an
aggregate
value
at
the
Trust
level
of
$81,600,038.
(c)
U.S.
Treasury
Notes,
3.63%
to
4.88%,
due
5/31/2028
to
10/31/2030
,
which
had
an
aggregate
value
at
the
Trust
level
of
$322,256,847.
(d)
U.S.
Treasury
Bills,
0%,
due
5/14/2024
to
8/8/2024;
U.S.
Treasury
Bonds,
0%
to
6.75%,
due
1/15/2025
to
8/15/2052;
U.S.
Treasury
Notes,
0.13%
to
5.25%,
due
4/30/2024
to
7/15/2031,
which
had
an
aggregate
value
at
the
Trust
level
of
$1,938,000,138.
(e)
Federal
Home
Loan
Banks,
0%,
due
3/28/2024
to
11/1/2024;
U.S.
Treasury
Bills,
0%,
due
4/2/2024
to
10/31/2024;
U.S.
Treasury
Bonds,
1.88%
to
4.38%,
due
2/15/2041
to
5/15/2049;
U.S.
Treasury
Notes,
0.25%
to
4.63%,
due
1/31/2025
to
2/15/2034,
which
had
an
aggregate
value
at
the
Trust
level
of
$805,801,009.