Funds Reports
Global Crypto Fund: March 2026 Report
Welcome to the 3CC Global Crypto Fund March 2026 Report, available for download below.
Hi all,
March marked a stabilisation phase for digital assets following the sharp corrections of the prior months. Despite a challenging macro backdrop - with rising geopolitical tensions and renewed inflation pressures driven by the Iran conflict - markets began to absorb negative news more effectively. Bitcoin held firm and led a modest recovery, supported by renewed inflows and improving sentiment, as the Fund delivered a +4.78% return for the month.
March Highlights:
Performance: Fund +4.78%, led by Bitcoin (+4.05 p.p.) and supported by Ethereum (+0.26 p.p.).
Bitcoin: Up +4.33% (EUR), closing the quarter near $67k after stabilising post-February drawdown.
Altcoins: Ethereum +9.3%, Solana +1.9%, while AAVE slightly detracted.
Flows: Strong recovery with ~$1B net inflows into digital asset funds (Bitcoin ~$1.4B).
Positioning: Investment committee reduced exposure (~5%), locking gains and increasing flexibility amid geopolitical risk.
Macro backdrop: Oil prices surged above $100, reinforcing inflation concerns and delaying rate cut expectations.
Looking ahead, the market is showing clear signs of consolidation rather than capitulation. Stablecoin supply has reached record levels, exchange balances are at multi-year lows, and long-term holders continue to accumulate. With capital sidelined and fundamentals strengthening, the setup for the next move is increasingly asymmetric - pending a catalyst to unlock it.
Best regards,
Nuno Serafim
Month Report GCF - March 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.
