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BITX invests in the Cayman Islands

this morning $2x Bitcoin Strategy ETF (BITX.US)$ BTC futures x2 ETF has been listed.
When I checked the specifications, there was the following description.
BITX invests in the Cayman Islands
(Japanese translation) The fund expects to gain double (2x) exposure to the index by investing part of its assets into wholly owned subsidiaries (“subsidiaries”) established under Cayman Islands law.
Futures leverage is 4 times. ETFs are double, so there's money left over.
Surplus money is used to buy bonds, etc., so the American government, which wants to buy government bonds, approves futures virtual currency ETFs, and does not approve physical virtual currency ETFs.
However, it is described that BITX will invest some of the surplus money into a Cayman Islands subsidiary.
How are the Cayman Islands
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