Mitchell Dong spied an opportunity late last year: Spot-Bitcoin ETFs were coming to US investors soon, and he wanted his crypto hedge fund to offer a competing product that performed even better.
Just weeks before Bitcoin funds got regulatory approval to start trading in January, his Pythagoras Investment Management launched its Alpha Long Biased strategy, a vehicle that looks to outperform the original cryptocurrency. It’s been nearly a year since the launch and the fund has beaten Bitcoin every single month except two, with year-to-date gains of around 230%, or 206% after fees.
