Funds Reports
Global Crypto Fund: June 2026 Report
Welcome to the 3CC Global Crypto Fund June 2026 Report, available for download below.
Hi all,
June was dominated by persistent inflation, a more hawkish Federal Reserve, and lingering geopolitical uncertainty. The Fed, under incoming Chair Kevin Warsh, maintained rates but removed expectations of rate cuts in 2026, reinforcing a higher-for-longer policy outlook. Although geopolitical tensions eased and oil prices declined sharply, tighter financial conditions and investor de-risking continued to pressure digital assets.
June Highlights:
The Fund returned –18.53% in June, reflecting one of the most challenging months of the year for digital assets.
Key drivers
- Bitcoin: –19.3% → –16.20 p.p.
- Ethereum: –21.7% → –2.05 p.p.
- Solana: –10.2% → –0.09 p.p.
- AAVE: +4.1% → +0.02 p.p.
Despite the correction, the weakness remained largely macro-driven rather than fundamental, with improving industry fundamentals continuing beneath the surface.
Entering the second half of 2026, digital assets continue to navigate a complex macro environment defined by elevated inflation, restrictive monetary policy, and geopolitical uncertainty. At the same time, structural fundamentals remain robust: stablecoin balances remain near record highs, tokenization continues to accelerate, on-chain activity remains resilient, and long-term Bitcoin holders continue accumulating while exchange balances sit near multi-year lows. We believe the current disconnect between valuations and fundamentals will narrow as macro uncertainty gradually fades.
Best regards,
Nuno Serafim
Month Report GCF - June 2026
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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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