February 2025 Monthly Market Performance
February 2025 Monthly Market Performance
February: -10.7%
CCi30: -26.9%
12 Months: -4.0%
Since Inception: +162.2%
Market Update
February was a very volatile and difficult month with the CCi30 index falling -27% and BTC down -18%.
The Portal Digital Fund ended February down -10.7%, and the Radiance Multi-Strategy Fund finished down -28.1% mark-to-market. Notwithstanding the market conditions, Radiance generated +3.7% more BTC in February to add to the +6.5% generated in January, giving a YTD yield of 10.2% or 5.1% average return pm.
The market reacted adversely to Trump’s proposed tariffs on Canada, China, Mexico, and Europe, as well as the possible withdrawal of US support for NATO in the Ukrainian-Russian conflict.
The BTC Carry Trade1 that usually profits from higher futures prices broke down in February when futures started trading below spot prices. This forced traders to unwind positions quickly, causing extreme volatility.
Bitcoin remains range-bound and currently in a downward trend, with support at $80,000 and short-term resistance at $90,000.
*Past performance is not an indicator or future performance. Specific risks may affect the possibility of such returns in future.
**This is a targeted return, and may not eventuate. Specific risks may impact on the possibility of such a return in future
*The current month is an estimate based on the initial reporting of the various funds, subject to change once NAV is crystalised.
FEBRUARY 2025 PERFORMANCE
February: -28.1%
CCi30: -26.9%
February Bitcoin Extraction: +3.7%
Market Update
The Radiance Multi-Strategy Fund finished down -28.1% in USD mark-to-market value. However, it achieved a +3.7% yield in additional BTC extracted, bringing its total BTC yield YTD to +10.2%.
Portfolio Allocation
