Allocation
Core holds the book. Crypto-beta is opt-in risk. Cash is ballast.
Default iPRA is 70 / 20 / 10. Buy a sleeve if you want only one of them. Weights below are the opening recipe, not a promise they never move — reconstitution is monthly, in regular hours, against published liquidity floors.
IPRA-C
Core · 70%
40 bp · 22% single name
Liquidity-weighted mega-cap and semiconductor stock tokens. Rebalanced only in NY regular hours.
| Ticker | Name | Weight | 24h | |
|---|---|---|---|---|
| SPY | S&P 500 | 22% | $762.48 | +0.01% |
| NVDA | NVIDIA | 18% | $223.79 | +1.58% |
| AAPL | Apple | 10% | $335.12 | -0.55% |
| GOOGL | Alphabet | 9% | $350.59 | -1.09% |
| MSFT | Microsoft | 8% | $494.76 | -0.59% |
| AMZN | Amazon | 8% | $254.11 | +0.85% |
| TSLA | Tesla | 7% | $364.47 | -1.17% |
| GLD | Gold | 6% | $401.17 | -0.18% |
| USDG | Cash buffer | 12% | $1.00 | 0.00% |
IPRA-K
Crypto-beta · 20%
80 bp · 25% name · 12% vol target
BTC-sensitive names. Volatility-scaled so a +16% MSTR day cannot poison Core.
| Ticker | Name | Weight | 24h | |
|---|---|---|---|---|
| MSTR | Strategy | 25% | $157.14 | +14.53% |
| COIN | Coinbase | 22% | $193.91 | +8.73% |
| CRCL | Circle | 20% | $92.12 | +4.92% |
| GLD | Gold | 18% | $401.17 | -0.18% |
| USDG | Cash buffer | 15% | $1.00 | 0.00% |
IPRA-Y
Yield · 10%
0 bp on idle Morpho · Cash only
SGOV plus Morpho USDG. Funds weekend shocks and async mint queues. Yield accrues to NAV.
| Ticker | Name | Weight | 24h | |
|---|---|---|---|---|
| SGOV | T-bills 0–3m | 55% | $100.91 | +0.02% |
| USDG | Morpho USDG | 45% | $1.00 | 0.00% |
Kept out of v1
SHROOM / ORBIO
Native chain tokens. Not NYSE-referenced. Separate, later.
RKLB / RCAT / BE
Liquidity below the reconstitution floor.
5x perps
Weekend stale prices plus leverage is how people get hurt.