Capital, Evolved.

This vault provides tokenized access to Balsa Market Making Fund (BMMF), a delta-neutral market-making fund in the Turkish crypto market. The strategy captures spreads between USD/TRY rates on Turkish crypto exchanges (Binance TR, OKX TR) and fiat banking rails, executing T+0 arbitrage on intra-day price discrepancies and T+1 carry on overnight FX forwards with institutional Turkish commercial banks. TRY positions are continuously hedged, so returns come from spread capture rather than directional exposure. The strategy has been running since October 2023 with net returns of 72.1% in 2024, 17.5% in 2025, and 15.0% YTD 2026 (net of underlying fund fees). Trading operates 24/7. Redemptions are processed at least once per business day. Business days follow the Turkish calendar — exceptions may apply on public holidays.

StockMarketTRBasisTrade offers exposure to a regulated Delta-Neutral Basis Trade arbitrage strategy on Borsa Istanbul equities. This strategy captures pricing discrepancies between Turkish cash equities and their Single Stock Futures (SSF) counterparts, generating basis trade spreads through high-frequency trading infrastructure. Each futures position is matched with an offsetting equity leg, and currency exposure is fully hedged, ensuring returns are realized in USD without market direction or FX risk. The underlying vehicle is an SPK (Turkish SEC) regulated fund. ISIN Number: TRYVVGS00891

This vault provides access to a regulated Turkish Lira leveraged carry trade strategy. The strategy captures the overnight interest rate of Turkish Lira and trades the mispricing of USD TRY futures. The underlying vehicle is an SPK (Turkish SEC) regulated fund. ISIN Number: TRYTALP00127.