Funds Reports
Global Crypto Fund: March 2025 Report
Welcome to the 3CC Global Crypto Fund March Report, available for download below.
Hey all,
March didn’t offer much relief after a tough February. The Global Crypto Fund was down -7.75%, with macro headwinds and tariffs dragging performance. Bitcoin alone accounted for -3.13%, while Ethereum and Solana weren’t far behind. Even DeFi names like AAVE and Uniswap added to the red.
Bitcoin wrapped up Q1 with a -12% slide—its worst quarter since 2018. It peaked at $109k in January but has since corrected nearly 30%, now trading between $78k and $88k. The "Trump bump" faded quickly as the new U.S. administration failed to deliver a concrete crypto policy.
But it’s not all doom and gloom. Institutional momentum is real:
- BlackRock expanded its tokenized fund (BUIDL) to 7 chains, including Solana, now managing $2 Bn.
- Circle partnered with ICE to bring USDC into the heart of traditional finance.
- Fidelity is teasing a Solana spot ETF.
Bitcoin dominance hit 58%, its highest since early 2021, showing that when things get shaky, capital still flows into the safest digital asset.
On-chain signals look more stable now. Outflows slowed, ETF flows leveled, and stablecoin supply kept rising, suggesting dry powder was accumulating.
We’re sitting on ~10% cash, waiting for the right moment to re-deploy. As always, patience pays.
Thank you for your trust
Nuno Serafim
Month Report GCF - March 2025
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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.
