🌞 Summer mode deactivated ⛅

Back-to-business mode is on after a rather volatile summer.

August was a volatile month for digital assets. Markets rotated from Bitcoin to Ethereum and altcoins: BTC slipped 6%, while ETH rallied 16% on the back of $4B spot ETF inflows. Meanwhile, spot BTC ETFs saw $628M in outflows, underscoring the shift in investor appetite.

Trading remained choppy, with short-lived rallies followed by sharp reversals. BTC closed the month 13% off its peak, while ETH and SOL endured similar drawdowns. Such sequences often feel designed to shake confidence, just before the market unleashes its next big pump.

OUR STRATEGIES IN AUGUST

🆙 TrenDynamic

Trendynamic did its job in August as Bitcoin delivered a picture-perfect fake-out. We moved 100% of our daily-timeframe allocation to the sidelines on August 17, while the higher-latency 3-day model exited in two tranches - August 17 and August 23. The global strategy finished the month at -1.27%, a contained pullback given the tape. We’re now patiently stalking the next confirmed breakout - poised to press risk on validation - into what could be the final leg of this bull run.

📈 B/Partners

July* was a quiet, spot-led month for B/Partners ; implied and realized volatility compressed, funding and futures basis drifted lower, and options premia stayed thin. In that backdrop, market- and delta-neutral books naturally earned less carry and found fewer mean-reversion opportunities; we printed a modest +0.54% for the month, consistent with the regime. Underlying strategies are positioned to lean back in as spreads widen and volatility normalizes.

🏧 Alpine Yield

Alpine Yield (USDC) proved resilient in a subdued market, running at an annualized 35.5% in August (a pace we expect to normalize over the coming weeks). The Vault is live, fully operational, and actively compounding. We remain disciplined on venue selection and incentive capture to keep risk tight while sustaining attractive yields.

🏎️ Accelion

Accelion navigated a whipsawing month: early gains, then a brutal -40% intramonth drawdown. Discipline prevailed - we stuck to the playbook and, the very next day, executed a high-conviction ADA setup that returned +272%, decisively reversing the damage. We closed the month at +248.7% gross. Buckle up over the next few days - volatility may still spring a few traps before the final push of this bull run.

*B/Partners is a multi-manager strategy allocating to funds that report on a T+15 basis. Consequently, performance published in February reflects January results; going forward, figures will consistently be shown with a one-month reporting lag aligned with underlying administrators’ NAV schedules..