Funds Reports
Global Crypto Fund: September 2026 Report
Welcome to the 3CC Global Crypto Fund September 2026 Report, available for download below.
Hi all,
September was another strong month for digital assets, which demonstrated remarkable resilience despite a challenging macroeconomic environment marked by synchronized monetary tightening across major central banks. Bitcoin continued its recovery, while the rally broadened across the digital asset ecosystem, supported by improving institutional flows. Against this backdrop, the Fund delivered a +8.95% return, outperforming Bitcoin's +8.8% performance in EUR, supported by positive contributions from Ethereum and selected altcoins.
September Highlights:
- Performance: Fund +8.95% vs. Bitcoin +8.8% (EUR), outperforming BTC by approximately 15 bps during the month.
- Bitcoin: Main performance driver, contributing +7.16 percentage points, following an +8.8% gain in EUR.
- Ethereum: Added +1.27 percentage points, gaining +10.8% during the month.
- Altcoins: Broad-based positive performance, with Uniswap (+30 bps), AAVE (+20 bps) and Solana (+19 bps). AAVE gained +30.1%.
- Institutional Flows: U.S. spot crypto ETFs attracted approximately $3.7 billion, including $2.65 billion into Bitcoin, $832 million into Ethereum and $271 million into Solana.
- Portfolio Activity: No allocation changes during September, following the selective profit-taking undertaken in August. The Fund maintained its existing cash buffer.
- FX: Euro depreciation of approximately 2.4% against the USD provided a positive contribution to EUR-denominated returns.
The Fund's outperformance relative to Bitcoin is particularly encouraging, demonstrating the added value of maintaining selective exposure to other digital assets alongside our core Bitcoin position. We remain constructive on the medium-term outlook, supported by continued institutional adoption and the development of blockchain infrastructure, while maintaining a disciplined approach to portfolio allocation.
Best regards,
Nuno Serafim
Month Report GCF - September 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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