BETE is designed to provide equal exposure to the two most wellknown digital assets bitcoin and ether It does so by investing in USD cashsettled frontmonth CME bitcoin and ether futures contracts while also considering backmonth contracts Both cryptocurrencies exposures are split into a 5050 allocation and will be rebalanced monthly The fund will roll the contracts each month as they near expiration Note that a portion of this investment is through a whollyowned subsidiary organized under the laws of the Cayman Islands capped at 25 at each quarter end Other ETFs money market instruments and reverse purchase agreements may also be utilized in certain circumstances to maintain the funds desired level of exposure to assets The bitcoin and ether future contracts are cash settled based upon the CME CF BitcoinDollar Reference Rate and CME CF EtherDollar Reference Rate respectively