May 2024 Fund Performance
May 2024 Fund Performance
MAY: +8.1%
CCI 30: +12.5%
2023: +49.3%
SINCE INCEPTION: +318.5%
Market Update
Cryptocurrency and Digital Assets (“Crypto Assets”) markets had a solid recovery in May There was once again a risk on sentiment as markets surged following the approval of Ethereum ETFs.
On May 23rd, the United States Securities and Exchange Commission (SEC) gave regulatory approval to eight spot Ethereum ETFs. Hype, expectation, and the inevitable green light for the ETFs sent the price of Ethereum (ETH) up 26% in May and led a market-wide rally.
Global digital asset investment products witnessed net inflows for four consecutive weeks, and May saw inflows of $2 billion, pushing year-to-date net inflows above the $15 billion mark.
Bitcoin (BTC) gained +11% in May and the market as represented by the CCI30 Index was up +12.5%. The Portal Digital Fund finished May up +8.1% with the Radiance Multi-Strategy Fund up +16.1%.
May Performance
MAY: +16.1%
CCI 30: +12.5%
2023: +76.5%
SINCE INCEPTION: +42.23%
