Custody & Security
Held, never deposited.
Fund assets are secured in Fireblocks’ institutional custody and traded off-exchange via Bybit — positions are executed against mirrored credit while the assets themselves never leave custody.
The Technology
No single key. No single point of failure.
Traditional wallets hinge on one private key — one thing to steal, one thing to lose. Fireblocks’ MPC-CMP protocol replaces the single key entirely.
Key Sharding
The private key never exists in one place. Cryptographic key shares are distributed across independent parties — a threshold of shares must co-operate to sign any transaction, so no individual, device, or server can ever move assets alone.
Policy Engine
Every movement of assets is governed by Fireblocks’ Transaction Authorization Policy — a rule engine that determines what is allowed, blocked, or requires additional approval. No transfer executes without the required approvals.
24/7 Monitoring
A round-the-clock security operations centre monitors for anomalies and threats across the Fireblocks network, alongside the fund’s own real-time transaction monitoring.
Off-Exchange Execution
We trade without depositing.
The largest loss events in digital asset history came from assets sitting on exchanges. Our structure is built so fund assets never do — trading occurs against mirrored credit through Fireblocks’ off-exchange settlement system, with Bybit as the execution venue.
Fireblocks Custody
Assets locked · multi-party control
Credit mirrored →
← Net settlement
Bybit
Trades executed on mirrored credit
01 Collateral locked in custody
02 Credit mirrored to venue
03 Positions traded on credit
04 Net settlement — only the difference moves
Because only mirrored credit sits on the venue, an exchange compromise or failure would not place fund assets within that estate — they remain in custody throughout.
Assurance
Audited. Certified. Insured.
Certifications
Fireblocks maintains SOC 2 Type II attestation and ISO 27001, 27017, and 27018 certifications, and holds CCSS Level 3 certification — the highest tier of the CryptoCurrency Security Standard.¹
Insurance
Fireblocks maintains an insurance programme underwritten through Lloyd’s of London covering assets secured by its custody technology.¹
Adoption
The platform is used by more than 1,200 institutions globally — banks, asset managers, and trading firms.¹
Controls
Multi-signature approvals, multi-layered access controls, and real-time transaction monitoring across every movement of assets.
Verification
Custody arrangements are independently verified through the fund’s administrator and auditor as part of monthly reconciliation and annual audit.
What This Means For You
Theft
No complete key exists to steal. Threshold signing and policy rules mean even a compromised insider cannot move assets alone.
Exchange Failure
Only mirrored credit sits on the venue. An exchange collapse would not touch the fund’s holdings, which remain in custody throughout.
Human Error
Every transfer is checked against pre-set rules before it can execute — the policy engine blocks what the rules do not permit.
Transparency
Every movement is logged, auditable, and independently reconciled monthly.
¹ Certifications, insurance, and adoption figures as published by Fireblocks; subject to change and to the terms of the relevant policies and attestations. Insurance covers the custodian’s platform, not fund performance. Presented as third-party information about the custodian, not as a representation of the fund.