A clean sweep in the Midterms for the Democrats. For the first time in more than 30 years, a Democratic Governor wins in Texas. Our expectations are that this is a positive sign for markets. A summary: - Yields have been running up as risk needs to be quantified due to a volatile policy by the current President. This risk is going to be lowered, so it's expected to see Yields to go down. - Lower Yields fuels the economy at the current stage, as borrowing becomes cheaper and therefore, tech can have a new impulse. - Due to the higher beta active in the crypto markets, a calm market benefits allocations towards riskier assets and therefore, #Bitcoin and #Crypto should benefit from this. Ultimately, this outcome is more positive than Republicans winning the midterms, as this provides a productive framework for the government to be getting back into balance and markets to become more predictive.

The FOMC has decided to leave the interest rates at the same levels. The GDP of the United States came in as the strongest in three years. The FOMC has no choice of keeping interest rates at those levels, or they'll be required to loosen the objectives surrounding inflation as they're pushing up inflation themselves with higher interest rates. That's also why Kevin Warsh remained neutral to dovish on his tone. It's a dynamic market, however, given that both of the events came out on the positive side, the expectancy for the upcoming months for the #Crypto markets have remained positive.

It's a big week on the horizon as many macroeconomic events are taking place. Wednesday - FOMC Meeting and Fed Rate Decision - likely no rate hike Thursday - GDP Data & PCE Inflation data of September Throughout the week, there will be earnings from four major companies: $AMZN, $INTC, $MSFT and $GOOGL. The market sentiment has hit a record low, as there's also the midterms coming up on November 3rd, and expectations are that we'll be seeing a deep correction.

Last week, the team travelled to Singapore for @token2049. The industry has matured significantly as more and more institutions are showing interest in the digital assets industry. Few of the key lessons: - It's quite clear that retail isn't going to be driving mass adoption in the way it used to be. Onboarding a mass number of users will likely be done through applications on top of layers. Most likely through a way where users aren't aware of the fact that they are using blockchain. - Payment rails on blockchain are superior vs. the old financial system and is accelerating at a super fast pace. - Tokenization has literally just started and the growth curve is massive. - Current valuations of most of the protocols and layers are way too low vs. the potential TAM of the underlying market (for instance the Agentic Economy). A very bullish and positive week with a phenomenal outlook for the years ahead for the entire industry.

Our monthly returns are in. We're very pleased to share that our gross return for September has been +40.05%. #Bitcoin's return in the same month has been +9.12%. Year-to-date return of the fund: +11.33% Inception-to-date return of the fund: +22.62% Outperformance of Bitcoin since inception: +50.09% That means, the allocation in the fund now generated 50% more Bitcoin than staying in Bitcoin alone. We have three strategies within the fund, of which we utilize high-frequency trading on volatility. This picked up momentum over the last month, but ultimately the largest part of the return came from fundamentally chosen protocols that outperformed Bitcoin over the past month. No leverage is used in our fund. Just spot positions. Looking forward to the coming months as the markets are picking up momentum.

The government in the Netherlands has decided that holding #Bitcoin and #Crypto in self-custody will be taxed for 36% unrealized capital gains. This is the current plan, and it’s not law. At least for the years 2028 and 2029. The same principle will be applied for precious metals like Gold and Silver. However, holding the same in a fund won't be applied to this taxing policy and will only be applicable for realized gains. From a personal perspective, we're against the new rule of Box 3 and would think that the government needs to go back to the drawing board.

The crypto markets can be volatile and extreme. Over the past three months, the sentiment has flipped enormously from depression stage towards euphoric in recent days. Zooming out on the larger picture, it's quite clear that #Bitcoin is acting into a bull market from here on. - Strong breakout and impulse to the upside from the accumulation range of which Bitcoin has been acting in for more than six months. - Reclaiming the 50-Week MA. - Strong bullish divergence on the weekly timeframe indicating that a bottoming procedure was taking place, similar to the bottom of 2022. - New higher high made. In that light, given that we operate with three strategies, we've allocated more cash into fundamental strong assets in the base asset allocation. Those assets have been: $NEAR, $GRASS, $EIGEN, $PLUME and $SUI.

$BTC is trading above $86,000, up more than 10% this week and back to levels not seen since January. Ethereum is above $2,700. The bigger tell is in the flows. US spot Bitcoin ETFs just pulled in $999 million in a single day, the largest inflow this year. Ether ETFs added another $270 million on top of that. August already set the pace with $3.5 billion in monthly inflows, the strongest since last September, and flows have stayed positive for three weeks running. Most of that money is landing in BlackRock's IBIT. Analysts have pointed to that concentration as a sign of allocation rather than trading, institutions building positions rather than chasing a bounce. There's also a short squeeze in the mix, adding fuel to the move. And the market shrugged off two rough headlines in the same stretch, a Fed rate hike and a failed CLARITY Act vote, without giving back much ground. Moves like this, fast, with real volume behind them, are exactly what our multi-strategy fund is designed to work with.

The Clarity Act just failed in the US Senate. 49 to 50, one vote short of the 60 needed. The timing is what makes this interesting. Europe closed its regulatory gap this summer with MiCA. The US just watched its biggest attempt to do the same collapse on a procedural vote. What does that divergence actually mean for where investors choose to hold digital asset exposure? We break it down in our latest blog → https://t.co/Xy0chxmV1a

The Clarity Act was declined to progress. Unfortunately, the Senate couldn't find 60 votes to pass for the Cloture Vote to be happening. A huge setback for the industry of #Crypto in the United States, but immediately, continuation is going to happen. This time it will happen through the SEC and the CFTC. What does this mean for the markets? Honestly, there's no question that this is a setback and markets have been selling off slightly due to this. Overall, in the long run, crypto is as strong as it always has been and will continue to develop even better applications and protocols. It would also be possible that they'll find a way to get this passed through, as the Genius Act didn't happen in the first instance either.