How pricing & exit work:
ETF-style creation/redemption — shares mint (Buy) and redeem at live NAV. Your USDC becomes the fund's own segregated backing, managed per the fund's published strategy: index baskets hold their constituents, while strategy funds (e.g. hedged long/short pairs) express exposure through derivatives — check the fund's page for which this is. Selling or redeeming pays USDC at NAV — your exit executes against the fund, never against "whoever is left on the book" — so the share price cannot durably decouple from the fund's net asset value. Strategy funds carry strategy risks (derivative funding costs, risk-gate exits) that flow through NAV.