February was our best month since going live. That being said, on an annualized basis, March so far is also going well. What is more, the compounding effects of monthly returns become especially strong when performance is high, and should become even more pronounced over the coming quarters and years.

We entered 2023 content with how we handled the 2022 crypto bear market (our maximum drawdown then was less than 4%). When the markets turned in January 2023, in typical fashion, momentum models were slow to catch the reversal. Sudden price spikes are notoriously difficult to capture for momentum models,

Last week US markets and crypto rose after the FED revealed they consider cutting interest rates in 2024. Market-implied probability based on CME Group 30-Day Fed Fund futures prices estimates that the FED will cut rates by March 2024 with a probability of more than 71%. Looser monetary policy was

A slight pickup in Bitcoin (BTC) volatility last month created a favorable environment for momentum models to reap the gains. Nevertheless, volatility remains low compared to historical figures. We are looking forward to further volatility and the performance of momentum models in their native environment. As we may be approaching

Dear LPs and friends of the fund, Please note, we don’t see ourselves in the business of making market predictions or investment recommendations. However, historical price data, which we use to build our models, contains a considerable amount of valuable information, especially when analyzing data across asset classes and

Dear LPs and friends of the fund, given the overall challenging market environment, we would like to share some insights on how low volatility conditions affect the performance of momentum models and an evaluation on the near term future from a statistical perspective. We focus our analysis on BTC as

Dear LPs and friends of the fund, From the onset of The Well, we have been paving the road to welcome institutional investors in our fund. After a comprehensive due diligence process, we are pleased to announce that Syz Group, a renowned Swiss banking group, has selected The Well among

As business owners ourselves we know how tedious it can be when people approach you with a pitch on “having the perfect solution for you”. In this case, however, we make a provable mathematical point. The business we are talking about is Bitcoin mining. For the last several market cycles

The crypto markets have have started the new year with a bang and we would like to take the opportunity to comment on our fund’s performance since last year’s launch and offer a framework for evaluating momentum strategies. This past year was marked by a massive leverage unwind