Funds Reports
Global Crypto Fund: February 2026 Report
Welcome to the 3CC Global Crypto Fund February 2026 Report, available for download below.
Hi all,
February was marked by rising macro, regulatory, and geopolitical uncertainty, triggering a broad risk-off environment across financial markets. Delays in U.S. crypto legislation, renewed trade tensions, and escalating geopolitical risks weighed on investor sentiment and liquidity conditions. In this environment, digital assets experienced heightened volatility, highlighting their sensitivity to shifts in macro expectations and global risk appetite.
February Highlights
The Fund declined –20.66% in February amid one of the sharpest drawdowns of the current cycle.
▪️ Bitcoin: –20% (EUR) → –16.85 p.p.
▪️ Ethereum: –29% (EUR) → –2.96 p.p.
▪️ Solana: –30% (EUR) → –0.38 p.p.
▪️ AAVE: –0.12 p.p.
▪️ Uniswap: –0.04 p.p.
While price action has weakened materially, underlying fundamentals continue to strengthen. Institutional integration is accelerating, regulatory clarity is gradually improving, and stablecoin capitalization now exceeds $300B, indicating a structurally larger liquidity base than in previous cycles. Historically, periods where sentiment diverges sharply from fundamentals have often preceded the most asymmetric entry points in the digital asset cycle. The Fund remains focused on exposure to structurally strong assets while positioning opportunistically during periods of market stress.
Best regards,
Nuno Serafim
Month Report GCF - February 2026
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Nuno Serafim
Managing Partner
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Nuno is an experienced financial executive with broad experience in the Asset Management industry, being board member of IMGA, where he served as Chief investment Officer, overseeing €3.4B of AuM before he founded 3 Comma Capital, together with Robert and Patrick Hable in 2022.
