KATT primarily uses swap agreements to make bullish bets on the share price of Hyperliquid Strategies Inc. (NASDAQ: PURR). Additionally, the fund may purchase FLEX call options on PURR or invest directly in the stocks of PURR. PURR is a holding and operating company, engaging in the business of crypto asset management. It operates as a digital asset treasury company focused on the Hyperliquid ecosystem. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in PURR price through daily rebalancing. As a leveraged product, it is designed for short-term tactical use, not as a long-term investment vehicle. Returns may deviate from the expected 2x if held for longer than a single day due to factors such as volatility and compounding effects. This strategy is high-risk and does not incorporate a defensive position.