An open-ended master/feeder structure: two feeder funds, one master, a single strategy — built for legal certainty, regulatory oversight, and institutional-grade governance.
Non-U.S. Investors
Cayman LP Feeder
Feeder fund
U.S. Investors
Delaware Feeder
Feeder fund
Cayman Master Fund
CIMA-regulated · open-ended · single strategy
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Fireblocks Custody
Assets held, never on-exchange
Master Fund
Cayman Islands — the entity in which the strategy is executed and all positions are held. Both feeders invest into it. Cayman is the established domicile for institutional digital asset funds, offering robust regulation, legal certainty, and a mature service-provider ecosystem.
Non-U.S. Feeder
A Cayman Islands limited partnership through which non-U.S. investors subscribe, feeding into the master fund.
U.S. Feeder
A Delaware vehicle through which qualifying U.S. investors subscribe, likewise feeding into the master fund — so all capital is managed within a single strategy and a single set of controls.
Regulation
CIMA-regulated fund operations, with audit, reporting, and governance obligations under Cayman Islands Monetary Authority registration.
Form
Open-ended, enabling entry and exit in a regulated, transparent manner. Terms available in offering documents only.
Governance
Independently overseen.
Audit
KPMG — independent financial audit.
Administration
Ascent — independent NAV, reconciliation, and multi-signature verification, with secure investor reporting via a single portal.
Oversight
Artemis Advisory — continuous independent monitoring of risk and exposure limits.
Banking & Settlement
Zodia, Bridge, and FundBank — regulated banking, payment, and settlement infrastructure supporting subscriptions, redemptions, and treasury.