A First-of-Its-Kind Hedged Bitcoin Fund Celebrated at Chicago Board Options Exchange

Inaugural fund of Dallas-based investment management company; Founders of Fortuna Funds rang ceremonial bell

DALLAS, July 23, 2025 /PRNewswire/ -- For its entry into the public markets, Fortuna Funds' first investment vehicle is now officially listed on the Chicago Board Options Exchange (Cboe). A milestone in digital investing, Fortuna Hedged Bitcoin Fund (HBTC) is setting a new benchmark for risk-adjusted exposure in bitcoin.

Established by seasoned industry professionals, Mark Adams and Joe Sando, Fortuna Funds offers more than four decades of combined financial investment management experience. Recognizing a gap in the market, Fortuna Funds brings professional strategies to a wider set of investors with downside hedging.

The introduction of HBTC delivers on Fortuna Fund's mission to marry growth potential with capital preservation. While the fund does not invest directly in bitcoin, it manages exposure through options on bitcoin-related securities.

HBTC is the first publicly traded, hedged bitcoin exchange-traded fund (ETF) of its kind. It adds an actively managed, options-based hedged overlay that aims to reduce volatility while maintaining upside – and with the opportunity profile of digital asset exposure that includes a disciplined, risk-adjusted methodology for the investor concerned with price fluctuations.

"It's a new strategic entry point for the risk-averse investor," said Sando. "Our inaugural product is more than a listing; we're bridging the gap between expert-level strategies and everyday investors."

Launched on March 19, 2025, the listing of HBTC on Cboe emphasizes Fortuna Fund's dedication to transparency, accessibility and performance. Chicago-based, Wolverine Trading is the lead market maker for the fund.

"With HBTC performing well and our downside hedging strategies proving effective, our long-term vision to build a platform of hedge fund-style investment with risk-adjusted options is coming to life," said Adams. "Grounded by the everyday investor and responsiveness to market conditions, we plan to thoughtfully expand into other high-potential sectors."

To learn more about Fortuna Funds, please visit www.fortunafunds.com.

About Fortuna Funds

Established in 2024, Dallas-based investment management company Fortuna Funds creates cutting-edge, risk-conscious strategies for investors in today's world. Based on their experience in risk management and derivatives, Fortuna Funds applies enterprise-class thinking to new classes of assets. Its inaugural product, the Fortuna Hedged Bitcoin Fund (HBTC), is quoted on the Cboe BZX Exchange and provides regulated, hedged exposure to bitcoin for both retail and institutional investors. For further details, please see www.fortunafunds.com.

Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, visit our website at www.fortunafunds.com/hbtc-fund/. Read the prospectus or summary prospectus carefully before investing.

Important Risk Information

There can be no assurance that the fund will achieve its investment objective.

Bitcoin and Bitcoin-related securities are relatively new investments. They are subject to unique and substantial risks and historically have been subject to significant price volatility. The value of an investment in the Fund could decline significantly and without warning, including to $0. You should be prepared for the possibility of losing your entire investment. The performance of Bitcoin-related securities, and therefore the performance of the Fund, may differ significantly from the performance of Bitcoin.

Bitcoin Exposure Risk. The Fund seeks to have significant exposure to Bitcoin. As a result, the Fund's performance may be disproportionately and significantly impacted by the poor performance of Bitcoin or events materially affecting the Bitcoin ecosystem. The Fund's exposure to Bitcoin makes it more susceptible to any single occurrence affecting Bitcoin and may subject the Fund to greater market risk than more diversified funds.

Derivatives Risk. The Fund will obtain exposure to Bitcoin through Bitcoin-related securities. The derivatives used by the Fund may give rise to a form of leverage, which magnifies the potential for gain and may result in greater losses. In some cases, this may cause the Fund to liquidate other portfolio investments at inopportune times. Certain of the Fund's transactions in derivatives could also affect the amount, timing, and character of distributions to shareholders, which may result in the Fund realizing more short-term capital gain and ordinary income subject to tax at ordinary income tax rates than it would if it did not engage in such transactions. Such distributions may adversely impact the Fund's after-tax returns.

New Fund Risk. The Fund is a recently organized investment company with no operating history. As a result, prospective investors have no track record or history on which to base their investment decision. Moreover, investors will not be able to evaluate the Fund against one or more comparable funds on the basis of relative performance until the Fund has established a track record.

Foreside Fund Services, LLC, distributor.

Media Contact:
Kurt Watkins 
[email protected] 
12149236903

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SOURCE Fortuna Funds