This page covers the detailed mechanics of subscribing to iBTCY. After you sign the Subscription Agreement, you must fund the subscription within the payment period in that agreement (commonly 5 business days from the effective date) or the agreement may terminate.
Accepted Assets Currency Process Fee Native BTC Direct deposit to custody 0% (Recommended)WBTC (BitGo) Converted via Archax OTC 10 bps cbBTC (Coinbase) Converted via Archax OTC 10 bps BBTC (Binance) Converted via Archax OTC 10 bps tBTC (Threshold) Converted via Archax OTC 10 bps
Native BTC is recommended for zero conversion fees.
Minimum Investment Requirement Amount Minimum Subscription 100,000 USD equivalent in BTC
Subscription Flow Step 1: Transfer BTC Send BTC to the designated deposit address from your whitelisted wallet.
The deposit address is shared across investors. Your deposit is identified by your whitelisted sending address. Only send from your verified wallet.
Step 2: Cooling-Off Period (6 hours) Parameter Value Duration 6 hours from BTC receipt Cancellation Full refund available BTC Location Held in custody
During this window, you may cancel your subscription entirely. Cancellation is all-or-nothing.
After the cooling-off period closes, the subscription is irrevocable except where the Subscription Agreement allows cancellation of a queued portion (see Step 4).
Irrevocability and risk transfer Stage Can you cancel? When does economic risk transfer? Cooling-off (6 hours) Yes, full refund Not yet After cooling-off No (instant portion); queued portion per Step 4 On on-chain iBTCY mint confirmation for the relevant portion
Once iBTCY is minted to your whitelisted wallet, you bear NAV and product risk from that point, subject to the Transaction Documents.
Step 3: Instant Minting After cooling-off closes:
New target AUM calculated
Buffer capacity assessed (32% target)
iBTCY minted for portion absorbed into buffer
Remaining amount enters queue
Example:
Fund AUM: 50M USD, Buffer: 16M USD at 32%
New subscription: 5M USD
New target AUM: 55M USD, required buffer: 17.6M USD
Instant capacity: 1.6M USD (expands buffer to target)
Queued: 3.4M USD
Step 4: Queue Processing For amounts exceeding instant capacity:
Action Timeline Cancellation window Until 5 business days before SSBAF deadline SSBAF deployment Monthly dealing window (typically month-end) iBTCY minting 15-30 days after queue close
Cancellation is all-or-nothing for the queued portion.
Step 5: Receive iBTCY iBTCY is minted to your whitelisted Ethereum wallet.
Source Cool-Down Instant-minted 7-day cool-down for instant redemption Queue-minted No cool-down
Cool-Down Explained The 7-day cool-down on instant-minted iBTCY prevents subscribe-and-immediately-redeem arbitrage.
Important:
Cool-down applies to instant redemptions only
You can always queue for primary (monthly) redemption
You can wrap to BTCY and trade on secondary markets
Cool-down travels with the token on transfer
Pricing Subscriptions are priced at the last published NAV (daily indicative).
Timing NAV Used Instant mint Daily indicative NAV Queue mint NAV at SSBAF deployment
Deposit Paths Native BTC (Recommended) Your BTC Wallet → Ceffu Custody → iBTCY Minted
0% fee
Requires BTC sending address whitelisting
Wrapped BTC Your EVM Wallet → Archax OTC → Native BTC → iBTCY Minted
10 bps OTC conversion fee
Requires EVM sending address whitelisting
Confirmation You’ll receive email notifications at each stage:
BTC received
Cooling-off started
Instant mint completed (if applicable)
Queue position confirmed (if applicable)
Queue mint completed (if applicable)
Track real-time status on the dashboard at app.aarc.xyz .
Redemption How to redeem iBTCY
Liquidity Framework Buffer mechanics and gating
Available only to eligible professional/qualified investors on an invite-only basis, subject to onboarding and compliance approval. For informational purposes only and not investment advice. Not an offer to the public or a solicitation where unlawful. No retail distribution. Not available to US Persons. Disclaimers · Platform and issuer 
