Korzhyk Capital’s capital is distributed across six major cryptocurrency exchanges. This diversification is used to reduce the risk associated with the potential insolvency, bankruptcy, or shutdown of any individual exchange. The list of exchanges used may change over time, while the principle of diversifying capital across independent platforms remains unchanged.

At the current stage, the Fund’s trading strategy is focused exclusively on Bitcoin futures. Approximately 50% of the capital is allocated to BTC/USDT futures trading and 50% to BTC/USDC futures trading.

Trading is conducted on the daily timeframe and may include both long and short positions. This allows the strategy to operate in both rising and falling Bitcoin markets.

Leverage is used in futures trading; however, due to the high volatility of the cryptocurrency market, it rarely exceeds 2x.

During periods when there are no suitable trading signals, the Fund’s available capital is held in U.S. dollar-pegged stablecoins, including USDT and USDC.

Position size and the acceptable level of risk are determined by the Korzhyk Capital trading system. In addition to technical analysis and capital management rules, the system uses predictive components that are applied to adjust position size and leverage before entering a trade.

Strategy Development

The Korzhyk Capital strategy has been revised and improved multiple times as trading experience accumulated and the structure of the cryptocurrency market evolved.

During the early stage of the Fund’s operations, capital was allocated between long-term investments in cryptocurrencies and speculative trading in derivative instruments based on Bitcoin and Ethereum.

In April 2025, a decision was made to discontinue long-term investments in altcoins and stop trading Ethereum futures. The capital previously used for these activities was reallocated to Bitcoin futures trading.

As a result, the strategy was simplified and concentrated on a single underlying asset — Bitcoin — while maintaining diversification across multiple exchanges and across instruments denominated in USDT and USDC.

Possible Future Development

In the future, Korzhyk Capital may consider trading tokenized real-world assets, including equities and precious metals, if the trading strategy used demonstrates sufficient effectiveness in those markets.

Such instruments are not currently part of the Fund’s core strategy. Their potential use is being considered as a means of further diversification and reducing the Fund’s dependence on a single market.