was the number one ranked long-only fund for 2021, according to industry stakeholder Crypto Fund Research. It delivered huge returns thanks to winning bets on the likes of bitcoin and other popular blockchain-based technologies or altcoins.“We hold eight to 12 coins or tokens in that fund, so it’s very concentrated,” Mr Galvin said.
“It’s undeniable bitcoin has earned itself a place as a new form of asset class or digital gold. It’s found a place in the asset stack, you’ve got the same people trading treasuries, equities, commodities, that now also incorporate bitcoin into their portfolios. That’s a dramatic win. That’s the proof of concept for this technology that says if it can get scale it can attract capital.
Mr Galvin acknowledged the regulatory environment around certain crypto investments remains uncertain and said DACM’s holistic approach has helped it deliver superior returns. “We’ve outperformed because we avoided a lot of that kind of flash-in-the-pan hype stuff and bought more fundamental assets that’ve been able to weather the insane volatility better than others,” he said.