Our strategy for the second half of 2021 was primarily focused on re-balancing longer term crypto investments, adding to our core positions, and focusing on building a healthy cash position to derisk and make more net new investments. In October and November, the crypto market hit new all-time highs and

The third quarter of 2021 turned out to be one of the best performing single quarters since the fund's inception. Profit-taking in certain positions through the previous quarter, followed by the strategy of sidelining a strong allocation of dry powder until market clarity gave us some breathing room

The second quarter in the crypto markets began with a bang and we saw continued euphoria across crypto, culminating in an eventual 50%+ correction which we will delve into in detail and how we performed, along with thoughts on where valuations are headed. Although we've been proponents of

The first quarter of 2021 was action-packed for the crypto markets, as Bitcoin hit new highs every month, finally topping at the last local high of ~$61,500 in March. The fund saw major growth across the portfolio which was more pronounced in DeFi and a number of longer term