This guide provides official clarification on the distinctions between A Shares and B Shares held within the BnkToTheFuture (BF) Platform ecosystem. Investors are advised to review these classifications to understand the liquidity, voting rights, and fee structures applicable to their holdings.

1. Voting Rights and Internal SPV Structure Private equity on the platform is held indirectly. You hold shares in a Segregated Portfolio (SP) of Bnk To The Future Capital SPC in the Cayman Islands, which holds the underlying company securities on a 1:1 basis. Within this internal Special Purpose Vehicle (SPV) structure), share classes are designated as follows:

  • A Shares: Carry voting rights.

  • B Shares: Carry no voting rights. 

  • Important Note: As outlined in our Secondary Market Order Agreements, SPV shareholders have no direct information or voting rights in the underlying target company. BF exercises what rights it holds without conferring any directly on the shareholder.


2. Trading and Liquidity (Secondary Market)

  • B Shares: These shares are enabled for trading on the BF Secondary Market (subject to buyer demand and liquidity) and are subjection to the custody fee.

  • A Shares: These shares are strictly illiquid and cannot be traded on the Secondary Market.

  • Conversion: In order to list A shares for sale, they must first be converted into B shares. As B shares carry no voting rights, the investor must explicitly consent to forfeit these rights. This is a manual A-to-B conversion that can be arranged by contacting BF Support with your request.


3. Custody Fees and Share Classes The 0.20% monthly Share Administration Fee applies strictly to SPV shares that are actively trading on our Secondary Market.

  • Because A shares cannot be traded on the Secondary Market, no custody fee applies to A shares. The fee follows the trading status of the specific shares held, not the overall Segregated Portfolio.

  • If you choose to manually convert your A shares to B shares to list them on the Secondary Market, those B shares will become subject to the standard monthly custody fee, unless they are placed in a live sell order.


4. Public Conversions & Exits (e.g., Exodus/EXIT) Please be aware that our internal A/B share classification is entirely separate from the corporate stock structures of the underlying companies we hold. When a private company goes public (such as the Exodus EXIT token conversion to public shares on 26 February 2026), the Secondary Market for the SPV is suspended. Following the post-IPO lock-up period, your entitlement to the public shares is reflected in your account, and you may submit a Request to Sell your pro-rata portion. We never transfer direct shares to an individual's personal brokerage account at any stage.




*last edited 10th September 2026