{"id":"tp-38207","type":"article-newspaper","title":"PBIT Would Set Roughly 10% Starting Loss Exposure Per Tranche, Not Fundwide","author":"Enna Lee","publisher":"TOKENPOST Inc.","url":"https://www.tokenpost.com/news/investing/38207","datePublished":"2026-10-22T18:40:57.000Z","dateModified":"2026-10-22T18:40:57.000Z","language":"en","abstract":"The proposed fund would seek downside protection and limit gains in separate monthly tranches. Staggered start dates mean the portfolio would have no single protection level.","section":"Investing","references":[{"title":"options-based Bitcoin fund strategy outlined in earlier coverage","url":"https://www.tokenpost.com/news/investing/37055"}]}