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Alpha Bitcoin Fund​

Launched in 2022, the Alpha Bitcoin Fund provides investors with a market-directional investment strategy aimed at outperforming Bitcoin’s price performance in any quarterly valuation period. This strategy combines conditional leverage through options with a well-established yield generation approach to achieve, at worst, the same performance as Bitcoin during downside price movements, while providing a leveraged position during upside price movements.

2.0BN USD

Assets under management

+340.04%

BTC Performance
Jul/2022
Launch date

+442.81%

Alpha BTC Performance

Investment Manager:
HEKA Funds Sicav plc
Portfolio Manager:
Abraxas Capital Management Ltd

Structure:
Alternative Investment Fund

Domicile:
Malta

Currency:
EUR, USD or BTC

Min investment:
100’000 EUR, USD or BTC equivalent

ISIN:
MT7000032413 (EUR)
MT7000032421 (USD)

Liquidity:
Monthly

Track record

Performance (USD share class, net of fees)

Year
2022
Year
Date

Jun

Jul

Aug

Sep

Oct

Nov

Dec

BTC performance (in USD)

0.00%

26.93%

-15.91%

-2.72%

3.38%

-17.32%

-2.01%

Alpha Bitcoin Fund (in USD)

0.00%

28.11%

-15.67%

-2.52%

3.84%

-16.43%

-0.94%

Outperformance (in USD)

0.00%

1.19%

0.24%

0.20%

0.47%

0.89%

1.07%

Year
Year
-13.05%
-9.46%
4.13%
2023

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

40.23%

1.52%

21.24%

2.46%

-7.47%

11.60%

-2.69%

-7.50%

-0.92%

27.54%

9.80%

12.92%

41.90%

2.52%

24.02%

3.30%

-6.81%

12.22%

-2.46%

-7.08%

-0.21%

28.29%

10.36%

13.27%

1.67%

0.99%

2.79%

0.84%

0.66%

0.62%

0.23%

0.43%

0.71%

0.75%

0.56%

0.34%

Year
Year
157.55%
182.71%
11.09%
2024

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

1.38%

46.16%

11.34%

-12.68%

10.12%

-9.77%

9.20%

-12.00%

9.05%

10.71%

39.09%

-2.93%

1.66%

46.85%

12.40%

-12.07%

10.63%

-9.45%

9.63%

-11.75%

9.23%

11.47%

39.89%

-2.06%

0.28%

0.69%

1.06%

0.61%

0.51%

0.32%

0.43%

0.25%

0.18%

0.76%

0.80%

0.87%

Year
Year
131.59%
138.57%
6.98%
2025

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

10.70%

-20.37%

-0.60%

-

-

-

-

-

-

-

-

-

11.27%

-19.94%

-0.22%

-

-

-

-

-

-

-

-

-

0.57%

0.43%

0.38%

-

-

-

-

-

-

-

-

-

Year
Year
-12.30%
-11.11%
1.39%

Bitcoin (BRR index) vs Alpha Bitcoin Fund

Abraxas Capital Management Ltd.

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