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For individuals, "US person" means a US citizen or resident, or a person who meets the
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Please see the below legal and regulatory disclosures for your respective jurisdiction(s).</p><p></p><p></p><h4><strong>NOT AN OFFER OR SOLICITATION</strong></h4><p></p><p>The information on this site may inform you of certain investment products and services offered by Hashnote Management LLC or any of its affiliates (together, "Hashnote"). No information published on the site constitutes a solicitation, offer or recommendation to enter into any transaction. The products, services, information and/or materials referenced within these web pages may not be available for all individuals or residents of certain jurisdictions.</p><p></p><p></p><h4><strong>IMPORTANT INFORMATION RELATING TO HASHNOTE’S PUBLIC WEBSITES</strong></h4><p></p><p>Any views or strategies described may not be suitable for all investors and are subject to investment risks. <strong>Please read this important information in its entirety.</strong></p><p></p><p></p><h4><strong>GENERAL RISKS & CONSIDERATIONS</strong></h4><p></p><p>Any views, strategies or products discussed on this site may not be appropriate for all individuals or institutions and are subject to risks. Investors may get back less than they invested, and past performance is not a reliable indicator of future results. Asset allocation does not guarantee a profit or protect against loss. Nothing on this site should be relied upon in isolation for the purpose of making an investment decision. You are urged to consider carefully whether the services, products, asset classes (e.g. fixed income, alternative investments, commodities, etc.) or strategies discussed are suitable to your needs. You must also consider the objectives, risks, charges, and expenses associated with an investment service, product or strategy prior to making an investment decision. You should be aware of the general and specific risks relevant to the matters discussed on this site. You will independently, without any reliance on Hashnote, make your own judgment and decision with respect to any investment or strategy referenced on this site.</p><p></p><p></p><h4><strong>NON-RELIANCE</strong></h4><p></p><p>Information contained on this site is believed to be reliable; however, Hashnote does not represent or warrant its accuracy, reliability or completeness, or accept any liability for any loss or damage (whether direct or indirect) arising out of the use of all or any part of the materials on this site. No representation or warranty should be made with regard to any computations, graphs, tables, diagrams or commentary contained on this site, which are provided for illustration/reference purposes only. The views, opinions, estimates and strategies expressed on this site constitute our judgment based on current market conditions and are subject to change without notice. Views, opinions, estimates and strategies expressed may differ from those expressed by Hashnote for other purposes or in other contexts, and the content should not be regarded as a research report. Any projected results and risks are based solely on hypothetical examples cited, and actual results and risks will vary depending on specific circumstances. Forward-looking statements should not be considered as guarantees or predictions of future events.</p><p></p><p>Nothing on this site shall be construed as giving rise to any duty of care owed to, or advisory relationship with, you or any third party. Nothing on this site shall be regarded as an offer, solicitation, recommendation or advice (whether financial, accounting, legal, tax or other) given by Hashnote and/or its officers or employees, irrespective of whether or not such communication was given at your request. Hashnote and its affiliates and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transactions.</p><p></p><p></p><h4><strong>LEGAL ENTITY, BRAND & REGULATORY INFORMATION</strong></h4><p></p><p>In the <strong>United States</strong>, Hashnote Management LLC operates as a commodity pool operator registered with the U.S. Commodity Futures Trading Commission, and is a Member of the National Futures Association. </p><p></p><p>HASHNOTE MANAGEMENT LLC IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HASHNOTE MANAGEMENT LLC HAS ENGAGED OR MAY ENGAGE IN UNDERLYING OR SPOT VIRTUAL CURRENCY TRANSACTIONS IN A COMMODITY POOL. ALTHOUGH NFA HAS JURISDICTION OVER HASHNOTE MANAGEMENT LLC AND ITS COMMODITY POOLS, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY FOR UNDERLYING OR SPOT MARKET VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS. YOU SHOULD ALSO BE AWARE THAT GIVEN CERTAIN MATERIAL CHARACTERISTICS OF THESE PRODUCTS, INCLUDING LACK OF A CENTRALIZED PRICING SOURCE AND THE OPAQUE NATURE OF THE VIRTUAL CURRENCY MARKET, THERE CURRENTLY IS NO SOUND OR ACCEPTABLE PRACTICE FOR NFA TO ADEQUATELY VERIFY THE OWNERSHIP AND CONTROL OF A VIRTUAL CURRENCY OR THE VALUATION ATTRIBUTED TO A VIRTUAL CURRENCY BY HASHNOTE MANAGEMENT LLC.</p><p></p><p>In the <strong>Cayman Islands,</strong> certain funds operated by Hashnote Management LLC are registered as mutual funds with the Cayman Islands Monetary Authority.</p><p></p><p></p><p></p></div></div></div></section></div><div class="footer"><div id="modal-us-persons" class="modal-us-persons"><div class="modal-overlay-window"><div class="container_profile-overlay"><div class="div_mobile-profile-header"><img width="150" height="150" alt="headshot portrait of alex" src="https://cdn.prod.website-files.com/636c603534d44ac26b4891e0/659dbe8fb40bb8bad9f836a7_alex.png" loading="lazy" srcset="https://cdn.prod.website-files.com/636c603534d44ac26b4891e0/659dbe8fb40bb8bad9f836a7_alex-p-500.png 500w, https://cdn.prod.website-files.com/636c603534d44ac26b4891e0/659dbe8fb40bb8bad9f836a7_alex.png 600w" sizes="100vw" class="image_profile"/><div class="text-align-left"><h1 class="h1_card">Alex Walchli</h1><p class="p_card gray-cool-800 text-align-left">VP of Engineering</p></div></div><div class="div_profile-overlay-text"><p class="p_us-persons-modal">For individuals, "US person" means a US citizen or resident, or a person who meets the "substantial presence test" under IRS regulations (see<a href="https://www.irs.gov/individuals/international-taxpayers/substantial-presence-test" target="_blank" class="link-p"> https://www.irs.gov/individuals/international-taxpayers/substantial-presence-test</a> ).<br/><br/>For institutions, "US person" under SEC Reg S (17 CFR Sec. 230.902(k)) means any of:</p><ul role="list" class="list"><li>Any partnership or corporation organized or incorporated under the laws of the United States;</li><li>Any estate of which any executor or administrator is a U.S. person;</li><li>Any trust of which any trustee is a U.S. person; Any agency or branch of a foreign entity located in the United States;</li><li>Any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person;</li><li>Any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and</li><li>Any partnership or corporation if:<br/>(A) Organized or incorporated under the laws of any foreign jurisdiction; and <br/>(B) Formed by a U.S. person principally for the purpose of investing in securities not registered under the Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in § 230.501(a)) who are not natural persons, estates or trusts.<br/><br/></li></ul></div></div><img width="24" height="24" alt="close button" src="https://cdn.prod.website-files.com/636c603534d44ac26b4891e0/659ebd75afa974443f64af7e_close-icon.png" loading="lazy" data-w-id="f3b4b144-5ede-859e-3801-9f0c5df9cf28" class="close-icon"/></div><div data-w-id="f3b4b144-5ede-859e-3801-9f0c5df9cf29" class="close-overlay"></div></div><section class="section_footer"><div class="content_1200"><div class="div_footer-top"><div class="div_footer-subscribe"><img src="https://cdn.prod.website-files.com/636c603534d44ac26b4891e0/659442a9e25323ca0e4941fa_Hashnote-wide.svg" loading="lazy" alt=""/><p class="p_small gray-cool-800">Subscribe to our newsletter. <br/>We only share important news and insights.</p><div class="form_footer-subscribe w-form"><form id="wf-form-Newsletter-Signup" name="wf-form-Newsletter-Signup" data-name="Newsletter Signup" method="get" class="form_subscribe" data-wf-page-id="65a83c1fd85458e523a09e34" data-wf-element-id="42515ec6-bb79-4384-6554-0758f12fd9f6" data-turnstile-sitekey="0x4AAAAAAAQTptj2So4dx43e"><input class="text-field_form-subscribe w-input" maxlength="256" name="email" data-name="Email" placeholder="Email" type="email" id="email-subscribe" required=""/><input type="submit" data-wait="Please wait..." class="form-submit_subscribe w-button" value="Subscribe"/></form><div class="form-success_subscribe w-form-done"><div>Thanks for subscribing!</div></div><div class="w-form-fail"><div>Oops! 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