The CYBER HORNET S&P 500 and Solana 75/25 Strategy ETF tracks the total return of the S&P 500 and S&P Solana 75/25 Blend Index. The structure allocates the majority of its assets to large-cap stocks included in the S&P 500, while allocating a certain weight to Solana spot exposure. Weights are periodically rebalanced according to the index rules.

This is suitable for investors who want to add some digital asset exposure to a portfolio centered on US large-cap stocks. Investors must be able to tolerate Solana price volatility.

This is a passively managed (index-tracking) ETF managed by Cyber Hornet.

By replicating the composition weights of the blend index, it holds US large-cap stocks and Solana in a single basket. The weights of stocks and digital assets are adjusted monthly in accordance with index rules, and the management team focuses on index replication rather than stock selection.

The track record since listing is short. Performance is driven simultaneously by the trend of US large-cap stocks and Solana prices; when the two assets move in the same direction, volatility increases, and when they move in opposite directions, some offsetting occurs. There is not yet sufficient data to judge long-term performance.

As it is a newly launched product with a small management scale, the fluctuation range of Net Asset Value (NAV) per share due to capital inflows and redemptions tends to be relatively large. During periods when digital asset prices plunge, liquidity may thin out as both creations and redemptions decrease.

While its strength lies in a structure that combines stocks and Solana in a single product, as a newly launched small-scale product, it also carries burdens in terms of liquidity and costs.

The comparison products in the table show differences in management fees and scale. While TPZ ETF and XXX ETF are in the same expense bracket, their assets under management differ, and DRAI ETF carries a higher expense burden as it pursues active management. Since the sectors and underlying assets differ, it is better to compare them based on costs and trading convenience rather than comparing returns side-by-side. Within the same family, EEE ETF (combining Ethereum) and BBB ETF (combining Bitcoin) serve as alternatives; if you wish to increase the digital asset weight separately, you can also hold spot Bitcoin ETFs like IBIT separately.

These are points to verify before investing. Although it is an index-tracking product, a portion is tied to digital assets, making it difficult to judge solely by the standards used for equity ETFs. Please review the costs, liquidity, and the nature of the underlying assets in order.

If the price of Solana plunges, the overall return may fluctuate significantly even if the equity portion remains stable. As a newly launched, small-scale product, creation and redemption may not be seamless, and there is a risk that the Net Asset Value (NAV) may diverge from the execution price depending on the timing of the trade. Investors should approach this with the assumption of potential loss of principal.

The structure is suitable for those aiming to hold US large-cap stocks and Solana within a single product. However, due to its small assets under management (AUM) and short track record, it is better to check the costs and liquidity first and then approach with small amounts. To adjust the weight of digital assets, compare it with other products featuring different asset combinations, such as the EEE ETF or BBB ETF.