Funds Reports
Global Crypto Fund: July 2025 Report
Welcome to the 3CC Global Crypto Fund July Report, available for download below.
Hi all,
The fund gained +15.18% in July, bringing year-to-date performance to +4.2%. A mix of supportive macro conditions, record equity markets, and historic U.S. regulatory breakthroughs (GENIUS & CLARITY Acts) fueled a broad crypto rally. Bitcoin broke decisively above $110k to a new high of $123k (+12.64% in EUR), while Ethereum surged 57.83%, marking a clear shift toward a broader-based market advance.
July Highlights:
Core Driver: Bitcoin (+10.5 p.p.) remained the main contributor, supported by strong altcoin gains.
Altcoin Rotation: Ethereum (+4.2 p.p.), Solana (+66bps), and Uniswap (+27bps) lifted returns, with ETH ETFs seeing a record $5B in monthly inflows.
Market Structure Boost: SEC approved in-kind redemptions for crypto ETFs, reducing sell pressure and improving tax efficiency.
Strategic Shift: Bitcoin dominance fell below its 200-day average — a signal of capital rotation toward higher-beta assets.
ETH Conviction: Portfolio exposure to Ethereum increased to ~12% as it evolves into a core reserve asset for the on-chain economy.
We maintain a constructive outlook, with a focus on Ethereum as the next key driver in this cycle, while retaining core Bitcoin exposure to capture continued institutional inflows.
Best regards,
Nuno Serafim
Month Report GCF - July 2025
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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.
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