The company "Cyber Hornet" aims to launch ETF funds that blend S&P 500 and cryptocurrencies.
The company “Cyber Hornet Trust” has submitted an application to the U.S. Securities and Exchange Commission (SEC) for approval to launch three exchange-traded funds (ETFs) that integrate the S&P 500 index with futures contracts for both Ethereum and XRP, as well as Solana.
According to the submitted filing, the funds target to allocate 75% of their assets to stocks of companies listed in the S&P 500 index, and 25% to futures contracts of cryptocurrencies depending on the type of fund.
The management fee for each fund will be 0.95%.
The components of the funds will be managed through monthly rebalancing, with the possibility of adjusting allocations based on market movements.
Cryptocurrency exposure includes direct purchases, CME futures contracts, as well as exchange-traded products.
Positions in contracts are managed through a subsidiary in the Cayman Islands, supported by short-term U.S. Treasury bonds.
If approved, these funds will be listed on the Nasdaq, and shares will only be available through the secondary market, without the possibility of direct redemption.
It is worth noting that “Cyber Hornet” currently manages the S&P 500 fund and the “Bitcoin 75/25 Strategy ETF” (ticker BBB), which was launched in late 2023 and had assets exceeding $6 million as of September 26.
