The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by clicking here for RIGZ. Read it carefully before investing.
Investments involve risks. Principal loss is possible. ETFs may trade at a premium or discount to their net asset value.Redemptions are limited and often brokerage commissions are charged on each trade which may reduce returns.The Fund will not invest directly in cryptocurrencies however it invests in companies involved in the cryptocurrency industry such as mining and manufacturers which can be very volatile. There is no assurance that the cryptocurrency network or service providers will continue in existence or grow. Technology companies may have limited product lines, financial resources and could face intense competition and rapid product obsolescence. Cryptocurrency functionality relies on the Internet and a significant disruption of connectivity could impede functionality and the risk of fraud or cyber-attack which could have adverse effect on the Fund’s investments.
Cryptocurrencies are subject to supply and demand so it is unclear how it will be impacted by geopolitical events. Nevertheless, political, health or economic crises may motivate large-scale acquisitions or sales of cryptocurrency either globally or locally. Large movements in the price of cryptocurrencies could create volatility and negatively impact the value of the Fund.
Cryptocurrencies exchanges are new and largely unregulated without any central authority or backing by any government or banks.
Cryptocurrency is not legal tender and may experience very high volatility or be more exposed to fraud, glitches or stop operating.
Cryptocurrencies currently face an uncertain regulatory landscape and are rapidly evolving in not only the United States but also in many foreign jurisdictions. The adoption of laws and regulations that affect the industry could ultimately have a negative impact or impede the growth of the companies the fund invests in.
Investments in foreign securities and depositary receipts are subject to special risks including the risk of a foreign jurisdiction imposing restrictions on the ability to repatriate or transfer currency or other assets; political, regulatory risks; and foreign market and trading risks. Depositary receipts represent shares of foreign based corporations and may be less liquid than the underlying shares in their primary trading market.
The Fund may invest in companies that have recently completed an IPO (initial public offering), are derived from a SPAC (SpecialPurpose Acquisition Company) or result from a Reverse Merger. These companies may be unseasoned and lack a trading history and track record. IPOs and stocks derived from SPACS or Reverse Mergers are thus often subject to extreme price volatility and speculative trading.
The fund invests in micro-, small-, and mid-capitalization sized companies which could have less liquidity and lower-trading volumes which tend to make their market price fall more in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.
The Fund’s crypto mining investments will be screened with clean energy criteria. Given the high energy usage of the crypto mining industry, the Sub-Adviser will evaluate crypto mining companies by focusing on their actions that will reduce the negative environmental impacts of mining. The Sub-Adviser will also consider purchased carbon offsets and other actions promoting environmental sustainability. There can be no assurance that this strategy will be successful for the Fund.
The Fund is non-diversified, which means that it may invest more of its assets in the securities of a single or smaller number of issuers than if it were a diversified fund. The Fund was recently organized with limited operating history and track record on which to base an investment decision.
The Funds are distributed by Quasar Distributors, LLC. The Sub-Adviser (Viridi Funds) provides clean energy screening.