BTC-1 trades bitcoin futures, long and short. The program is systematic, self-supervised and memory-based, and its returns are published daily.
Pre-registrationThe record begins 1 October 2026 · version 1.3
Where every figure of the record comes from, how it is calculated and published, and how it is checked against the exchange.
1
Every figure is calculated from the exchange’s own records of the program’s dedicated account, read with a key that can neither trade nor withdraw. A public, scheduled workflow does the calculation and commits the result. No figure is entered or adjusted by hand.
2
Net asset value is measured once a day, at 23:59:59 UTC: the wallet balance plus open positions marked to the exchange’s mark price. Returns are time-weighted, so deposits and withdrawals are not counted as gains or losses, and they are net of all trading costs, including commissions and funding. The Methodology sets out every formula.
3
Each day’s value is normally published the following day. Each Monthly Report is published on the thirdday of the following month, whatever the month’s result, and no month is omitted; the first on 3 November 2026. The current month’s figures are updated daily until it ends; after that, published figures are not amended, and an error is corrected by a separate, logged correction, as the Methodology sets out.
4
Each month the record is reconciled with the exchange’s statements and with a separate ledger kept on reout’s servers, and the outcome is published. Under a non-disclosure agreement, an allocator may request a read-only key of their own and compare the published values with the exchange’s own records.
5
The exchange makes only recent history available, so the records it sends are kept every day. Their SHA-256 hashes are listed in a daily manifest, published in the public repository and timestamped on Bitcoin. A record handed over under NDA, a year later, can be checked against the hash published on its day: if they match, it has not changed since. The repository guide gives the commands.
The first day’s manifest is published on 2 October 2026.
Events are entered in these logs as they occur. Each Monthly Report reproduces the month’s entries, with the month’s reconciliation and any Kill Criteria review.
| Changelog | Every amendment to the documents, with its reason, anchored before it applies |
| Versions | Every deployed version of the program, with its class and the hash of its sealed configuration |
| Incidents | Every operational incident, whether or not it affected returns |
| Interventions | Every manual action on the account |
Institutional allocators can review the thesis and the account itself, under a non-disclosure agreement.