C20 was launched as a closed-ended fund, providing exposure to the Top 20 cryptoassets with no hedging strategy. The tokens trade on an exchange meaning that the token price faces the normal market dynamics of supply and demand. This means that the token can trade at a premium or discount to the NAV.
With C10, the fund is open-ended. This allows for purchases and sales to occur at NAV price, directly with Invictus Capital. There will always be liquidity due to the open-ended nature of the fund. The fund provides exposure to the top 10 cryptoassets, while providing a cash hedge strategy which helps to preserve capital during times of market stress.
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