LISTED
CHF
sECONDARY MARKET
OPEN END

Coded Capital Crypto Champions ETP

Coded Capital Crypto Champions ETP (CCCC) employs a long-only investment strategy, focusing on meticulously researched crypto assets. The selection process is informed by macroeconomic analysis, the regulatory landscape for cryptocurrencies, protocol economics, and technical analysis. The Portfolio Manager has the discretion to actively manage the portfolio, adjusting asset allocations and weightings based on comprehensive analysis. This investment approach is purely discretionary and does not utilize leverage.
ISIN
CH1348112678
KID
Base Prospectus
Factsheet
Cumulative Return
___.__%
Return since 1 month
__.__%
Return YTD
__.__%
Performance
Total
3M
YTD
1Y
Risk Metrics
CCCC
standard deviation
__%
maximum drawdown
__%
CCi30
standard deviation
__%
standard deviation
__%
Historical Performance
and Track Record
The following data showcases the performance of the LTW Fund, a long-only growth strategy managed by Harlan Carere, Portfolio Manager of CCCC.
Since its inception, the LTW Fund has returned 254.7%, significantly outperforming its benchmark, the CCi30, by 132.3%. During the same period, the LTW Fund also outperformed Bitcoin, which returned 235.7%, by 21.1%.
Historical Monthly Performance
Show/Hide
YearJanFebMarAprMayJunJulAugSepOctNovDecYTD
2024-4.53-16.6811.306.1352.79-15.2721.63
20257.61-30.56-12.79-34.83
Objective
The Product CCCC (Coded Capital Crypto Champions ETP) trades selected digital assets as defined by SIX Swiss Exchange and USD / CHF with the objective of increasing the Net Asset Value (NAV) of the ETP in the mid to long term.
CCCC is a long-only strategy with the goal of outperforming its Benchmark, the CCi30 Index.
LISTING
SIX Swiss Exchange
MANAGEMENT FEE
2%
NAV — MARCH 31, 2025  
CHF 87.89
ASSET MANAGER
FiCAS AG
ISSUER
Bitcoin Capital AG
ISSUE DATE
30.07.2024
ISSUE PRICE
CHF 100
BASE CURRENCY
CHF

Basket Allocation

The investment product allows retail, professional and institutional investors in Switzerland, Liechtenstein and in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Malta, Netherlands, Spain, and Sweden to invest in digital assets through their bank or broker, just as they would buy traditional equities in a regulated environment.
ISIN
DE000A3G6MG4
FiCAS Expert  Team Market Commentary
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Market Review
March was a month of mixed signals and elevated policy-driven volatility.
Bitcoin posted a -2.3% return, while Ethereum continued to lag, underperforming Bitcoin for a third consecutive month. Early market optimism followed Donald Trump’s announcement of a U.S. Strategic Crypto Reserve, which named BTC, ETH, XRP, SOL, and ADA as key assets. The news triggered a sharp rally over the weekend, but momentum faded quickly as traders questioned the policy’s clarity and impact.
Investor sentiment was further rattled by renewed tariff tensions, contributing to the worst Q1 trading performance across markets in over two years. Hopes for a Fed rate cut were unmet in March, adding to risk-off pressures. Meanwhile, regulatory developments offered a more constructive backdrop: the SEC dropped lawsuits against Crypto.com, Kraken, and XRP, while CME launched SOL futures, and ETF filings for XRP, Avalanche, and other altcoins continued to gain traction.
Outlook
As markets continue to digest the implications of U.S. tariff policies, risk assets may remain under pressure in the short term. However, historical patterns suggest that in times of macroeconomic uncertainty, gold often leads, with Bitcoin—frequently seen as its digital counterpart—tending to follow. The store-of-value narrative may regain traction, especially if inflation expectations persist and global liquidity tightens.
On the regulatory front, the SEC’s proposed Stablecoin Act signals a shift toward clearer rules for issuance and use, potentially unlocking broader institutional adoption. This coincides with increased momentum from major players: Fidelity is preparing to launch a stablecoin, Trump’s World Liberty Financial initiative is expected to support digital dollar alternatives, and Circle’s planned IPO further validates stablecoins as an emerging asset class within traditional markets.
‍
For Ethereum, growing anticipation surrounds a potential ETH staking ETF, which could serve as a significant price catalyst. BlackRock’s Head of Digital Assets recently pointed to such a product as a logical next step for ETH exposure, especially if staking rewards can be passed through to investors. Together, these developments suggest a more supportive framework for digital assets going into Q2, with the potential for renewed upside momentum.

Other Information

Factsheet
Legal Form
Exchange-Traded Product
Minimum Subscription
1 unit
Performance Fee
20%
High Watermark
Yes; 100 CHF
Secondary Market
1% bid-offer spread
Manager Type
Single Manager
Auditor
BDO AG, Liechtenstein
Liquidity
Daily
Paying Agent
InCore Bank AG
Executing Broker
Coinbase, Kraken, Crypto Broker
Depositary & Crypto Asset Storage Provider
Coinbase, AMINA Bank
Clearing Institution / Clearing Code
Issuance in Clearstream, available for settlement in Euroclear
Stock Exchange
Stuttgart Stock Exchange
Calculation Agent
Vinter (Invierno AB)
Domicile
Switzerland
Custody
Coinbase, AMINA Bank
Financial Market Authority
FMA Liechtenstein
Authorized Participant
Flowtraders

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