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Overview

Minting creates ETFT units through the execution of the underlying portfolio. Select an ETFT, enter your contribution, review the quote, and confirm the transaction. Once the required execution and reconciliation are complete, your ETFT tokens become available to claim. You can mint with USDC or USDT. USDC is used for the portfolio execution funding path. When you contribute USDT, it is first automatically swapped into USDC. Conversion fees, spreads, and slippage can reduce the amount available for portfolio execution. The amount of ETFT received reflects the underlying portfolio’s value, actual execution, and applicable costs. Minting is a primary-market operation, distinct from buying existing tokens in a secondary market.

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1. Quote

Quote is the pre-submission stage. It lets you review an order before committing funds; a quote alone does not initiate minting.

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Choose an ETFT

Select a product and review its holdings, target weights, methodology, historical performance, Indicative Product NAV (iNAV), management fee, and key risks. For example, Pelosi ETFT is a Celebrity ETFT constructed from publicly disclosed information associated with Nancy Pelosi. It is not a representation of her real-time account or an implication of sponsorship or endorsement.

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Pelosi ETFT — Illustrative portfolio

This is an illustrative snapshot, not a current holdings statement. Displayed weights total 99.99% due to rounding; execution uses the applicable portfolio weights at full precision. Composition and weights can change under the product methodology.

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Connect your wallet

Connect a supported wallet on the network enabled for the product, including Ethereum or BNB Chain where supported. Select USDC or USDT as your contribution asset. Hold enough of the selected asset for your contribution and separately paid charges, together with the network’s native token for gas. A USDC or USDT balance alone does not necessarily cover network fees.

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Minimum mint amount

The minimum mint amount is 100 USDC, measured after any USDT-to-USDC conversion and its associated costs, but before underlying portfolio execution costs. Network gas is separate and does not count toward this minimum. For USDT contributions, the conversion must provide at least 100 USDC. Contributing 100 USDT does not necessarily meet this requirement. Review the quoted conversion output and allow for the applicable conversion limits. If the actual conversion falls below the minimum, the order cannot proceed to portfolio execution as a qualifying mint; the disclosed exception procedure applies. This is a monetary minimum, not a fixed number of ETFT units or a requirement to contribute in multiples of 100. The units received depend on portfolio valuation, execution, and costs.

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Review your mint quote

Enter the contribution amount. For example:
For a USDC contribution, no USDT-to-USDC swap is required. The quote reflects current underlying prices, applicable portfolio weights, iNAV, expected execution, market liquidity, and relevant costs. For USDT, it also incorporates the estimated conversion outcome. The displayed minimum is the transaction’s output limit, rather than a claim that iNAV is a guaranteed execution price. Review the quote validity and execution limits before confirming. There is no separate ETFT mint fee. Underlying execution costs are passed through in transaction pricing. A USDT contribution also incurs the economic cost of conversion, including applicable fees, spreads, and slippage. These costs are separate from a mint fee and must not be counted twice. USDT and USDC are not assumed to convert one-for-one. The final amount available for execution depends on the actual conversion result.

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2. Processing

Click Mint and confirm the required wallet transactions. Once accepted, the order enters Processing. For USDT, Processing includes the automatic conversion into USDC before underlying portfolio execution. For USDC, the order proceeds without this conversion step. Wallet confirmation does not mean the underlying positions have already been established.

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Underlying execution

For an equity-backed ETFT such as the illustrative Pelosi portfolio, the corresponding securities are executed through Alpaca. Other ETFTs use the execution venues specified for their implementation. For a simple equity allocation:
The available value reflects the contribution after any required conversion and applicable costs allocated before execution. Costs already included in the net conversion result are not deducted again. Cash allocations, fractional quantities, and actual execution constraints are handled under the product methodology. Actual prices can differ from those observed when the quote was generated because of market movement, bid-ask spreads, liquidity, partial fills, extended-hours conditions, and execution charges. If conversion or portfolio execution cannot satisfy the accepted order limits, the request follows its applicable failure, partial-execution, or refund procedure. The minimum output is not silently lowered. Once a conversion or trade has occurred, an unwind may incur costs; a full cost-free return of the original contribution is not assumed.

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Processing time

Under normal market and operating conditions, Processing typically completes within 10 minutes. This refers to the period from order acceptance to Claimable, including any USDT conversion, required portfolio execution, and reconciliation. It is an estimate, not a guaranteed deadline. Market closures, trading halts, limited liquidity, partial fills, conversion delays, broker interruptions, or network congestion can extend processing. Check the product’s dealing availability before confirming. A delay beyond 10 minutes does not by itself mean that the order has failed or been cancelled.

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3. Claimable

Once the required execution and reconciliation are complete and the token entitlement is ready for delivery, the order changes from Processing to Claimable. Click Claim and confirm the wallet transaction. The confirmed ETFT amount is delivered to your connected wallet on the applicable network.

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4. Completed

The 10-minute processing estimate does not include the time you take to claim or the confirmation time for the claim transaction. After successful delivery, the order becomes Completed. You can review your units, iNAV, portfolio allocation, performance, and transaction history.

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Order lifecycle

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Important considerations

Conversion and portfolio execution are distinct steps, each with its own market and operational risks. Do not interpret a zero mint fee as zero total transaction cost.
An ETFT represents the rights and exposure defined by its product documents, not necessarily direct registered ownership of each underlying security. Historical performance and public disclosures do not guarantee future results. Celebrity and Institutional Portfolio ETFTs can be affected by delays and limitations in the information used to construct their portfolios.