> For the complete documentation index, see [llms.txt](https://docs.xft.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.xft.finance/mutual-funds/xft-bitcoin-tokenized-trust/why-cef.md).

# Why CEF?

Listed CEF offers 3 layers of liquidity. 

<https://btcx-nav.netlify.app/>