Hello Again All:

Many thanks for your explanations and information.  I view these 3 funds as a package which should in fact behave as a set of interlocked derivatives, as your name implies.  One of the best things about derivatives in general is that they can represent excellent ways to manage risk in the underlying asset.  All Things Bitcoin is nothing if not risky!  You have given us a tool to help transfer risk from those who don't want it to those who do, for a price.  Unfortunately, derivatives have a well-deserved reputation for being complicated and difficult to understand.  Now that you have provided this additional info I think that you have reduced the confusion to its lowest realistic level.  Best Wishes to you and to BDD!