DigitalX Investment
DigitalX ASX Announcement
“DigitalX board has resolved to allocated approximately A$4.96 million into the Lime Street Capital SPC fund, run by Australian manager Digital Asset Funds Management (DAFM), which is expected to generate significant free cash flows based on the Fund’s historical performance.”
September performance and newsletter
Early September saw headline cryptocurrency Bitcoin
(BTC) consolidate from its decline in August. Although
BTC failed to find any solid momentum in September, late
in the month, U.S. dollar weakness saw crypto assets
start to move higher again.
August performance and newsletter
Bitcoin set a new all-time high in August, trading above
US$124,000 for the first time. Positive sentiment was
driven by increased institutional backing and further U.S.
regulatory support, notably easing rules around holding
cryptocurrency in retirement accounts. The new high in
BTC found strong resistance, and profit-taking saw prices
settle around $108,000 by month-end.
Montgomery Partnership
Montgomery Investment Management (Montgomery) is
pleased to announce an exclusive partnership with Sydney’s Digital Asset Funds
Management (DAFM), introducing a unique opportunity for Australian investors beyond
traditional assets and strategies.
July performance and newsletter
Similar to the equity market, the crypto market is pricing
in further interest rate cuts from the Fed and many
developed market central banks. Positive U.S. regulatory
momentum continues to build for crypto. The GENIUS
Act was enacted by U.S. President Trump on July 18, and
new SEC Chair Atkins announced plans for major
regulatory reforms on cryptocurrencies at month close.
June performance and newsletter
A similar trend to what occurred last month, where
yields on crypto-specific trading venues remained
below those on the Chicago Mercantile Exchange
(CME). The algorithm was able to take advantage of the
opportunities, particularly as the spread between the
CME and the crypto-specific trading exchanges
narrowed towards the back end of the month.
May performance and newsletter
BTC rose to a new all-time high of $111,970 on 22 May.
Despite the record high, BTC futures yields were not
overly responsive, but they did hold up well throughout
the spike and volatile period. BTC seems to be trading
more like gold as time goes on.
April performance and newsletter
Basis volatility (the premium futures command over
spot) was muted throughout the month, with yields
never really finding a bid even toward the back end of
April’s recovery. At times CME yields decoupled from
broader crypto-centric venues, which provided a
convenient avenue for returns. Otherwise, the system
took advantage of inter/intra exchange opportunities as
they became available.
March performance and newsletter
“Trump-pumps” seem to be a thing of the past for the
time being. Various headlines regarding Trump related
entities buying alt-coins or spruiking Ripple (XRP) as a
viable payment platform failed to spark any ongoing
buoyancy in the market. Consequently, it was a
relatively benign month in terms of crypto-centric
news. BTC remained heavy as did ETH and alt coins.
Indices reflecting “Fear and Greed” approached the
year’s low for BTC.
February performance and newsletter
There were two notable events in February. First, a liquidation event in early February, which caused Ethereum to fall some -15% within 1 minute.
The second event was news that the Bybit crypto exchange had been hacked for some US $1.5bn worth of Ethereum.
Despite the immediate fall in ETH and BTC, it was not as large a fall as that following the November 2022 FTX fraud.
Helping the market to stabilize and recover was the very quick and open communication by Bybit’s CEO.