MN Fund

Our core pillar has become automated volatility trading. In recent months, we've seen accelerated growth in executing those trades, and we are ready to scale our operations further. Automated volatility trading, what leverage does that bring to trading #Crypto? In our approach, a lot. We'll provide you with an example. Two of our assets that we trade have seen a correction over the past week. One of them was corrected by 11%. The other one by 7%. The return of the volatility trading: +0.5%. By scaling this strategy, we'll be able to increase the Sharpe Ratio of the entire portfolio and reduce drawdowns, one of the key risks of investing in crypto. Even if there's a strong market correction, trading continues.

During the last nine months, #Bitcoin hasn't performed well. Since our inception, Bitcoin has fallen from $107,100 to $73,000 (and has touched the $60,000 level). Any average #Altcoin corrected by 80-90% in the same period. During bear markets, it's not about generating a positive return; it's about protecting capital. Protecting as much as you can opens up opportunities for upwards trending markets to generate and compound higher returns. That's why we're happy that we've only experienced a 13% drawdown since July 1st of 2025. To put this into perspective: that's an outperformance of #Bitcoin by 40% in the same period of time. Over the past few weeks, the strategy has been to accumulate more positions to position the fund more toward a potential upward bounce in the markets.

The recent regime hasn't been resulting into positive returns for any investor into the Web 3 ecosystem. Since our launch in July '25: - #Bitcoin corrected by 34% - #Ethereum corrected by 17% - Crypto market capitalization corrected by 28% MN Fund return: -13%. Especially, Bitcoin has seen a harsh correction since November. Our role as fund manager is to prevent large drawdowns. This has succeeded in the recent correction and that positions us correctly into the next phase of the market cycle. As long as you'll prevent large drawdowns, the returns will follow. Reach out here: mnfund.nl

During these times, volatility continues to rise, which might feel like a risk for many investors. However, over recent months, we've been increasing the number of systems in the automatic volatility trading. Currently, we're running a system that's operating on multiple #Altcoin pairs with an average Sharpe Ratio of 1.1-1.3 and a turnover rate of 2.5-3x per day. Despite all the uncertainty in the world, leveraging the volatility of the markets is one of our key components to continuing to deliver a return for our investors against #Bitcoin.

The largest market crash since COVID. Last week, the markets saw a 6-sigma event. That's more unlikely than being hit by a thunderstrike once in your life. That's how deep and heavy the correction was for #Bitcoin. You might wonder, where are the markets heading from here? The fundamental thesis has never been this strong In general, the fundamental thesis around crypto has strengthened. - The Genius Act has doubled the amount of stablecoin supply on $ETH. - The Clarity Act gives a green light to the entire industry. - Gold has seen a tremendous run; capital is likely going to rotate. - Despite the fact that the economy is getting into worse waters, it's likely to see a strong impulse of QE and lower rates to come with the new FED Chairman. Hard assets will do well. That's why, during the recent crash, we increased our base exposure to $ETH and continued to trade amid market volatility. We're positive for the coming year and are positioned accordingly. Outperformed #Bitcoin since the 1st of July by 35%. For more information, contact us at mnfund.nl.

Monthly Update January MN Fund The previous months have been challenging for any participant in the #Crypto & #Bitcoin markets. The all-time high of Bitcoin at $125K has resulted into a correction of more than 40%. In that same timespan, altcoins corrected by 60-70%. In recent month, it was all about managing risks and avoiding drawdowns. This resulted into a return of -10.80% for January for MN Fund. In January, the return for $BTC was -10.67% (against EUR). The return of MN Fund since inception remains to be +34.35% against Bitcoin (1st of July 2025). Despite the recent drawdown on the fund and the market conditions, we're incredibly happy with the outperformance of Bitcoin. What happened in January 2026? The markets have seen a wide correction due to multiple factors: - The liquidity was taken away from crypto and added into the commodity markets, hence a tremendous run on Gold and Silver. On top of that, the volatility increased on those commodities, which leads to additional selling pressure on #Bitcoin to mitigate the risks of the volatility of the underlying asset. - The Japanese Yield continued to go up, which provides the same principles as explained before. - The unwinding of 10/10. The previous period has shown a large unwinding of the cascade on 10/10 and that continued to last in January. What changes did we make? During the previous month: - We've scaled up our volatility trading to 75% as the volatility has picked up significantly and we expect to generate a sustainable return. - We've been buying assets into our core assets over the previous period (including the past week in February). - We're not taking OTC trades in current market conditions. Our expectations are positive going forward, especially with the recent volatility, we expect to see a significant increase in volume and therefore, a positive returns vs. Bitcoin.

Historically, any price shock in any asset results in a shock response in #Crypto & #Bitcoin. This has occurred in the past ten to fifteen years and has recurred. Last Friday, a significant sell-off occurred in commodity markets, with gold correcting by nearly 10% and silver by 30%. Over the weekend, this escalated toward #Crypto & #Bitcoin, which incurred double-digit losses. This is the phase during which most pain is felt and where noise usually predominates in decision-making. It's hard to see a clear path for the markets amid all this noise. Now, historically, the moment that the volatility on commodities slows down, we'll likely see a calmer pace of the market, and that should be beneficial for other markets, like crypto.

How do you manage to keep your risk parameters in control? Good question, and the most prominent question. During the crash of 10 October, the markets clearly saw a destruction of the entire #Crypto ecosystem. Since then, markets have been significantly weak and haven't performed well, while Gold and Silver have performed strongly. Now, within our hybrid strategy, the upside is that we remain very flexible in all different market circumstances. The #Altcoin market capitalization in December 2025 continued to fall by 5%. In that same window, MN Fund has provided a return of +9.82%. During November/December: The fund managed volatility trading quite well; however, it decided to allocate more capital to stablecoins amid weaker market conditions. As volatility trading returns and the risk-off methodology supports our overall goal of outperforming #Bitcoin, it remains to provide flexibility to allocate assets during periods of stronger market conditions. This ultimately resulted in a nearly 35% return against Bitcoin over the first six months of trading. Read more here: mnfund.nl

Trump at @wef: "America will be the #crypto capital of the planet" The shift from enforcement to framework is happening. When the world's largest economy commits to digital asset leadership, institutional capital follows. Volatility isn't risk, it's opportunity.

The key principle isn't to achieve the highest return possible. The key principle is to manage risk properly. Many assets had a terrible year last year, as most crypto protocols fell by more than 70%. Despite the poor market conditions, the fund's return has outperformed #Bitcoin by 34.49%.

At MN Fund, #Bitcoin is our benchmark. Not because we aim to mirror its price movements, but because Bitcoin represents the entry point for most investors allocating to digital assets. As the market attracts more sophisticated capital, Bitcoin is often the first asset considered. With Bitcoin's larger price swing, we aim to navigate the volatility and deliver a more stable long-term growth profile through our multi-strategy approach. Since launching MN Fund in July ’25, we have outperformed Bitcoin by +34.49%. For our investors, this has meant a better alternative to simply holding $BTC. An alternative focused on risk management, adaptability, and consistency across market conditions.

October 10th: Our Best Day Came During the Worst Crash The crypto market lost double digits in minutes. For MN Fund, it was our most profitable single day since inception: spot-only, no leverage. Here's what happened and why our strategy thrived: 🧵 The setup: Late evening, unexpected macro news triggered a cascade of liquidations across crypto. Within minutes, billions in positions were wiped out. Most portfolios bled. Ours got filled. Why we performed when others didn't: Our volatility strategy is designed for exactly these moments. Normal daily volatility on $ETH sits around 3.5%. On October 10th, it spiked 4-10x. For most investors, that's a disaster. For a volatility strategy, it's the ideal condition. The core insight: Ethereum has traded between $1,000 and $4,800 over the past four years. Multiple rallies to ATH. Multiple 50%+ corrections. If you held passively through that period, your return would be 0%. We see this differently. Our approach: In a market this volatile, actively positioning for outliers doesn't add risk; it converts risk into consistent returns. October 10th validated the thesis. Want to learn more? Visit mnfund.nl or use our contact form.

December saw lower volatility and volumes across the market. Even so, our volatility strategies on $ETH, $TAO, and $XAN executed 1,737 trades. We also activated $SEI trading (previously a core holding), completing 312 trades and lowering our average entry price. Our algo system is still in trial mode, but already ran 5,121 trades across $HBAR/EUR and $DCR/EUR. Scaling is planned for Q1 2026.

End-2025 US data supported the soft-landing narrative, with easing #inflation and resilient growth. This week’s US labor data, the first major macro signal of the year, will be key for policy and liquidity expectations.

December 2025 & Full-Year 2025 Performance Update December marked a period of consolidation across digital asset markets. • December 2025: +9.82% • Since inception (July 2025): +10.13% Over the same period, Bitcoin corrected by nearly 18%. This resulted in a +34.49% return versus Bitcoin in 2025, highlighting strong benchmark outperformance during a challenging market environment. Q4 provided a real-world stress test. The October 10th flash crash marked the fund’s largest positive trading day, reinforcing the robustness of our disciplined volatility strategy. Despite declining volumes, liquidity, and sentiment throughout November and December, we continued to generate returns while many assets revisited October lows. Looking ahead to 2026: With macro headwinds increasingly turning into tailwinds, we expect a more favorable environment for risk-on assets. Rising volatility and volume should support continued positive performance versus Bitcoin in the year ahead. For more information, contact us at mnfund.nl.

During 2025, we have seen a new wave of digital asset adoption among institutional investors. Recently, @BankofAmerica indicated that wealth management clients may allocate up to 4% of their portfolios to digital assets. Yet another signal of how the market is being framed today: not as speculation, but as a measured allocation within diversified portfolios. This kind of guidance reflects a broader shift. Large institutions are no longer debating whether digital assets, such as $BTC and $ETH, belong in portfolios, but how much and under what risk framework. Position sizing, liquidity, and volatility management are now central to the discussion. For us, this reinforces a view we’ve held for some time: digital assets are moving into a more institutional phase, where disciplined exposure matters more than directional conviction.

During periods of financial stress, and uncertainty, commodities rise. However, this has happened in the past and will happen in the future again. Gold has been on a rise in 2016, and 2020. During the same periods, risk-on assets haven't been performing well, resulting into a consolidation within #Bitcoin and Web3 ecosystem. We expect this to reverse during the upcoming year, and given that Ethereum has been outperforming Bitcoin since the summer of 2025, the expectancy is to remain allocated within the markets going into 2026.

Even though MN Fund went live in July this year, it has already been a meaningful journey. The market has been challenging, and uncertainty and fear in risk-on assets have skyrocketed. Proving yet again that building a strong foundation as a fund requires a dynamic and multi-strategy approach. As we move into the new year, we remain focused on refining our strategy and preparing for a wide range of outcomes in the digital asset space. To all our followers and supporters: thank you for the trust. Wishing you a Merry Christmas and a healthy, successful New Year.

During the past week, several important events took place. 1. US Unemployment Rate: 4.6% vs. 4.4% expected. 2. CPI Data: 2.7% vs. 3.1% expected. 3. Bank of Japan decided to hike their interest rates by 25bps. All of these events have a big impact on decision-making within the FED and therefore the markets. The unemployment rate has rallied to the highest level in four years, while inflation is cooling down. On top of that, as the rate hike of the Bank of Japan was already publicly known, the event has likely provided downside pressure to the markets prior to the event. Finally, the FED decided to loosen the SLR ratio for banks and starts injecting money into the financial markets through overnight repo's. In that light, the expectancy is that the first period of 2026 could be positive for risk-on assets, including #Bitcoin & #Ethereum.

The strategy of our fund consists of three different buckets and is therefore called a 'hybrid' strategy. 1 - Base assets: Simply holding $BTC, $ETH, and other assets that we think are likely going to do well in the upcoming period, hence the allocation to those. In this asset group, you can add tokenized Gold or Stocks. 2 - High-Frequency Volatility Trading: The markets aren't constantly moving upwards in a straight line; most of the time, markets are range-bound. For example, $ETH has been at this price for 4 years and has hit $900 and $4,800 in between. Through volatility trading, we're taking advantage of market opportunities. 3 - OTC Trading. In the fund, we facilitate the opportunity for foundations and founders to propose OTC deals with short-term vesting to us. Sometimes we're willing to take the risk on a particular asset and therefore fund the founder on their next stage. The strategy is a combination of these three. If the market is hot, the allocation might be very different from when markets are trending down. Through this strategy, we're looking to outperform $BTC consistently. In the first five months, the return has been ~16% better than Bitcoin.