The Cyber Hornet S&P Crypto 10 ETF (ticker: CTX) is a passively managed, exchange-traded fund that gives investors broad exposure to the top 10 cryptocurrencies by market capitalization. Unlike futures-based products, the Trust directly holds spot cryptocurrencies, with Bitcoin (~70%) and Ethereum (~15%) making up the bulk of the portfolio, and the remainder spread across XRP, Solana, Cardano, and others. The Trust is sponsored by Cyber Hornet ETFs, a Florida-based registered investment adviser. CTX charges a single annual Sponsor Fee of 0.95% of net assets, which covers most operating expenses. Shares are created and redeemed in blocks of 25,000 exclusively with Authorized Participants at NAV, and retail investors buy and sell shares on Nasdaq like any other listed security. The Trust holds non-yielding assets and pays no dividends, so investor returns depend entirely on cryptocurrency price appreciation. A key constraint is that the Trust can only hold "Eligible Assets" — cryptocurrencies meeting specific regulatory criteria. Two Index constituents, BNB and TRON, currently fail this test and are excluded, requiring the Sponsor to reallocate roughly 5.84% of Index weight, which introduces estimated annual tracking error of 1.5%–4.0%. The Trust is an early-stage product with no operating history, and if it fails to attract sufficient assets, it may liquidate.
Read full business overview →Mid to long-term bullish thesis
View →Mid to long-term bearish thesis
View →Mid to long-term bull-bear debate
View → NEWSummary and scoring of the bull-bear debate
View →Find ideas with similar bull or bear theses
View →Investor-relevant company attributes
View →Key risks to the business
View →Comparisons of annual risk disclosures
View →