The Katana Program had a positive return of 6.74% for October bringing gross YTD return to over 30%. We (like the market) cannot be sure of the future direction of crypto however we do see higher volatility as a probable scenario over the coming months which should provide good trading opportunities.
Key Events
The crypto landscape appears more bullish with the SEC being directed by a US federal appeals court that it was wrong to reject an application from Grayscale Investments to convert its existing bitcoin trust into a spot bitcoin ETF. Should spot bitcoin be allowed as an asset in a listed ETF, demand and accessibility to crypto exposure will increase.