How to read this: The Simulated NAV is a real paper portfolio: $3M worth of the 16 target assets with quantities locked at inception (June 11, 2026, NAV $0.0300). It is not rebalanced to a fixed value, so it rises and falls with the market, exactly as the live fund will. Published on-chain weekly pre-launch, every 15 minutes at launch. When sale capital deploys into the portfolio, the Actual NAV (real treasury holdings) takes over.