Is the Fund’s Balance Typically Reported in USD or the Underlying Crypto Asset?

The fund's balance is typically reported in a stable, easily understood metric, which is usually a major fiat currency equivalent (like USD) or a major stablecoin. It may also be reported in the underlying crypto asset of the contract (e.g.

BTC for a BTC futures fund). Reporting in USD provides a consistent, non-volatile value, which is easier for traders to track and compare, even if the underlying assets are volatile crypto.