Under normal circumstances, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of U.S. companies and exchange-traded products with direct exposure to Bitcoin. The fund invests in equity securities of U.S. companies through exchange-traded futures contracts, equity securities of U.S. companies and ETFs that primarily invest in the equity securities of U.S. companies. The fund invests up to 15% of its total assets in the Grayscale Bitcoin Trust.