{
 "ticker": "HBTC",
 "name": "Fortuna Hedged Bitcoin ETF",
 "issuer": "Fortuna",
 "desk": "crypto",
 "url": "https://etfiq.com/funds/hbtc",
 "html": "https://etfiq.com/funds/hbtc",
 "markdown": "https://etfiq.com/funds/hbtc.md",
 "as_of": "2026-10-20",
 "verdict": "Over the year to Oct 20, 2026, HBTC lost 21.1%, against \u221225.6% for bitcoin.",
 "key_facts": [
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "\u221221.1%",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "as_of": "2026-10-20",
   "sentence": "HBTC, total return, 1 year: \u221221.1%, as of Oct 20, 2026.",
   "cite": {
    "value": "\u221221.1%",
    "as_of": "2026-10-20",
    "source": "computed by ETFIQ from Tiingo daily prices",
    "url": "https://etfiq.com/funds/hbtc#fact-total-return-1-year",
    "text": "HBTC, total return, 1 year: \u221221.1%, as of Oct 20, 2026."
   }
  },
  {
   "key": "bitcoin_over_the_same_days",
   "label": "Bitcoin over the same days",
   "value": "\u221225.6%",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "as_of": "2026-10-20",
   "sentence": "HBTC, bitcoin over the same days: \u221225.6%, as of Oct 20, 2026.",
   "cite": {
    "value": "\u221225.6%",
    "as_of": "2026-10-20",
    "source": "computed by ETFIQ from Tiingo daily prices",
    "url": "https://etfiq.com/funds/hbtc#fact-bitcoin-over-the-same-days",
    "text": "HBTC, bitcoin over the same days: \u221225.6%, as of Oct 20, 2026."
   }
  },
  {
   "key": "difference_against_bitcoin_compounded",
   "label": "Difference against Bitcoin, compounded",
   "value": "+6.1%",
   "source": null,
   "as_of": "2026-10-20",
   "sentence": "HBTC, difference against Bitcoin, compounded: +6.1%, as of Oct 20, 2026.",
   "cite": {
    "value": "+6.1%",
    "as_of": "2026-10-20",
    "source": null,
    "url": "https://etfiq.com/funds/hbtc#fact-difference-against-bitcoin-compounded",
    "text": "HBTC, difference against Bitcoin, compounded: +6.1%, as of Oct 20, 2026."
   }
  },
  {
   "key": "days_it_has_traded",
   "label": "Days it has traded",
   "value": "400",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "as_of": "2026-10-20",
   "sentence": "HBTC, days it has traded: 400, as of Oct 20, 2026.",
   "cite": {
    "value": "400",
    "as_of": "2026-10-20",
    "source": "computed by ETFIQ from Tiingo daily prices",
    "url": "https://etfiq.com/funds/hbtc#fact-days-it-has-traded",
    "text": "HBTC, days it has traded: 400, as of Oct 20, 2026."
   }
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$775,015",
   "source": "SEC N-PORT, whole fund, as filed for May 31, 2026",
   "as_of": "2026-05-31",
   "sentence": "HBTC, net assets: $775,015 (SEC N-PORT, whole fund, as filed for May 31, 2026).",
   "cite": {
    "value": "$775,015",
    "as_of": "2026-05-31",
    "source": "SEC N-PORT, whole fund, as filed for May 31, 2026",
    "url": "https://etfiq.com/funds/hbtc#fact-net-assets",
    "text": "HBTC, net assets: $775,015 (SEC N-PORT, whole fund, as filed for May 31, 2026)."
   }
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.97%",
   "source": "497 XBRL",
   "as_of": "2026-10-20",
   "sentence": "HBTC, expense ratio: 1.97% (497 XBRL).",
   "cite": {
    "value": "1.97%",
    "as_of": "2026-10-20",
    "source": "497 XBRL",
    "url": "https://etfiq.com/funds/hbtc#fact-expense-ratio",
    "text": "HBTC, expense ratio: 1.97% (497 XBRL)."
   }
  }
 ],
 "fields": [
  {
   "key": "sponsor",
   "label": "Sponsor",
   "value": "Fortuna",
   "source": null
  },
  {
   "key": "holds",
   "label": "Holds",
   "value": "options on Bitcoin",
   "source": null
  },
  {
   "key": "measured_against",
   "label": "Measured against",
   "value": "Bitcoin at 4pm New York, the coin it reaches",
   "source": null
  },
  {
   "key": "cash_fund",
   "label": "Cash fund",
   "value": "49.2% of net assets",
   "source": "N-PORT, May 31, 2026"
  },
  {
   "key": "derivatives",
   "label": "Derivatives",
   "value": "5.3% of net assets",
   "source": "N-PORT, May 31, 2026"
  },
  {
   "key": "other_assets_less_other_liabilities",
   "label": "Other assets less other liabilities",
   "value": "45.6% of net assets, from the filing\u2019s own totals",
   "source": "N-PORT, May 31, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.97%",
   "source": "497 XBRL"
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$775,015",
   "source": "SEC N-PORT, whole fund, as filed for May 31, 2026"
  },
  {
   "key": "staking",
   "label": "Staking",
   "value": "the chain has none, so no fund holding it can pay a staking yield",
   "source": null
  },
  {
   "key": "first_traded",
   "label": "First traded",
   "value": "Mar 19, 2025",
   "source": null
  },
  {
   "key": "days_traded",
   "label": "Days traded",
   "value": "400",
   "source": null
  },
  {
   "key": "days_it_closed_unchanged",
   "label": "Days it closed unchanged",
   "value": "0",
   "source": null
  },
  {
   "key": "quoted",
   "label": "Quoted",
   "value": "on an exchange, every trading day",
   "source": null
  },
  {
   "key": "price",
   "label": "Price",
   "value": "$21.4787",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Total return": "0.0%",
   "Bitcoin": "+1.6%",
   "Difference, percentage points": "\u22121.6 pts"
  },
  {
   "window": "3 months",
   "Total return": "+15.0%",
   "Bitcoin": "+24.2%",
   "Difference, percentage points": "\u22127.4% of its growth"
  },
  {
   "window": "6 months",
   "Total return": "+5.6%",
   "Bitcoin": "+10.0%",
   "Difference, percentage points": "\u22124.3 pts"
  },
  {
   "window": "Year to date",
   "Total return": "\u22126.0%",
   "Bitcoin": "\u22125.7%",
   "Difference, percentage points": "\u22120.3 pts"
  },
  {
   "window": "1 year",
   "Total return": "\u221221.1%",
   "Bitcoin": "\u221225.6%",
   "Difference, percentage points": "+6.1% of its growth"
  },
  {
   "window": "Since launch",
   "Total return": "\u22124.7%",
   "Bitcoin": "\u22123.5%",
   "Difference, percentage points": "\u22121.2 pts"
  },
  {
   "window": "Since launch, annualised",
   "Total return": "\u22123.0%",
   "Bitcoin": "\u2013",
   "Difference, percentage points": "\u2013"
  }
 ],
 "questions": [
  {
   "q": "Does HBTC track Bitcoin?",
   "a": "Over the year to Oct 20, 2026 it returned \u221221.1% against Bitcoin\u2019s \u221225.6%, which leaves it 6.1% ahead once both returns are compounded. That difference carries the fee and what the strategy did, and ETFIQ computes it from the fund\u2019s own closes and the coin\u2019s own closes over the same two dates."
  },
  {
   "q": "Does HBTC stake?",
   "a": "HBTC holds options on Bitcoin rather than Bitcoin itself, so there is nothing for it to stake."
  },
  {
   "q": "What is HBTC?",
   "a": "Fortuna Hedged Bitcoin ETF, a fund registered under the Investment Company Act that holds options on Bitcoin to reach Bitcoin, from Fortuna, first traded Mar 19, 2025. It files a monthly N-PORT listing what it holds."
  }
 ],
 "key_stats": [
  {
   "key": "high52",
   "label": "52-week high, daily closes to Oct 20, 2026",
   "value": "$30.91 on Oct 27, 2025",
   "as_of": "2025-10-27",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 30.9122,
   "window": {
    "from": "2025-10-21",
    "to": "2026-10-20"
   }
  },
  {
   "key": "low52",
   "label": "52-week low, daily closes to Oct 20, 2026",
   "value": "$17.23 on Jun 25, 2026",
   "as_of": "2026-06-25",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 17.2311,
   "window": {
    "from": "2025-10-21",
    "to": "2026-10-20"
   }
  },
  {
   "key": "inrange",
   "label": "Close on Oct 20, 2026, within that range",
   "value": "$21.4787, 31% of the way from the low to the high",
   "as_of": "2026-10-20",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 21.4787
  }
 ],
 "flows": {
  "as_of": "2026-05-31",
  "coverage": "monthly",
  "computed_by": "ETFIQ, from the change in shares outstanding times the previous day\u2019s NAV",
  "method": "https://etfiq.com/methodology/flows",
  "data": "https://etfiq.com/data/flows/funds/hbtc.json",
  "windows": [],
  "latest_month": {
   "month": "2026-05",
   "net_flow_usd": 0,
   "net_flow": "$0",
   "source": "SEC Form N-PORT"
  }
 },
 "generated": "2026-10-21",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, HBTC, crypto ETFs, data as of Oct 20, 2026. https://etfiq.com/funds/hbtc"
}