March 2024 – Quarterly Update

Commentary On Q1 Market Performance

The sharp price rally experienced in the crypto space during Q4 2023, as predicted by our Everything Code, continued during the first couple of weeks of the year, due to the expectation of a BTC ETF being approved. This early rally, however, was not sustainable and the month closed with the major crypto tokens flat for the month.

Following the short breather the market took in January, prices were again off to the races and both February and March were strong months for the large tokens (BTC, ETH, SOL) as well as for most Alt coins.

Undoubtedly, the standout moment of the quarter was the approval and introduction of not one but 9 spot BTC ETFs in the US. Collectively, the ETFs saw a remarkable $12.1B in net inflows during the quarter, making them the most successful ETFs ever launched. Despite facing substantial outflows due to high fees, GBTC maintained its position as the leading ETF with BlackRock’s iShares fund (IBIT) following closely in second place, and Fidelity (FBTC) securing third place. Notably, crypto native companies, ARK 21Shares and Bitwise, claimed the 4th and 5th spots, putting them ahead of well-established players like VanEck, Invesco, and Franklin Templeton.

The Big Picture Macro

With the first quarter of the year now firmly in the rear-view mirror, the much-anticipated Bitcoin halving now comes into focus and takes centre stage in most people’s minds, including our own. Let’s zoom out and take a look at the bigpicture…

In crypto it’s easy to get caught up in short-term narratives. Just about everyone in the space has a view and at times this can be confusing, especially when prices are falling.

ACCESS THE FULL Q1 2024 REPORT HERE

Moritz Heiden05 02 24

Commentary On Q4 Market Performance The price of digital assets rallied significantly during the fourth quarter. For the quarter,…

Commentary On Q4 Market Performance The price of digital assets rallied significantly during the fourth quarter. For the quarter, BTC was up +56.7%, S&P BDM Ex-Mega +91.9% and the Nasdaq +14.3%. As a reminder, here…

Moritz Heiden31 10 23

Download the full Q3 2023 Report as PDF Here   Commentary On Our Portfolio And The Market The third…

Download the full Q3 2023 Report as PDF Here   Commentary On Our Portfolio And The Market The third quarter began where the second quarter left off as we continued to re-position EADAF’s portfolio towards…