RabbitSuitThe fund
Four model funds: one rule, four ways to hold it.
The fund holds R* × NAV in Bitcoin, where R* is the dial: a number from 0 to 1 that the rules produce each day. The rest is parked in one other asset, re-picked monthly. The four model funds run the same dial and differ only in the instruments and the currency (USD or EUR, spot or ETF), so the rule can be watched in each form.
On top, a small options position buys convexity when the strategy calls for it: capped, paid for from the parked share, counted at cost in these values, and never changing the Bitcoin share.
It runs only our own money. There are no outside investors, no way to invest in it, and nothing on this site is investment advice. The approach: why Bitcoin, the claim, the rule →
How it is doing
live record · simulated tradesThe funds' actual record since launch: starting at 100, with a cost charged on every simulated trade, so the curves are not friction-free. The faint line behind each is holding Bitcoin. The record is days old, not years: yearly figures stay blank until a fund is 90 days old. For a full cycle, see the 2012–2026 backtest of the same rules →
All four funds, side by side
| fund | 1M | 3M | YTD | SI | CAGR | maxDD | vol | Sharpe | MAR |
|---|---|---|---|---|---|---|---|---|---|
| USD · spot | +5.2% | — | — | +19.8% | — | -4.5% | — | — | — |
| vs Bitcoin buy-and-hold | +7.1% | — | — | +30.8% | — | -6.9% | — | — | — |
| USD · ETF | +5.4% | — | — | +19.5% | — | -4.7% | — | — | — |
| vs Bitcoin buy-and-hold | +7.5% | — | — | +30.5% | — | -7.1% | — | — | — |
| EUR · spot | +6.8% | — | — | +21.3% | — | -3.8% | — | — | — |
| vs Bitcoin buy-and-hold | +9.3% | — | — | +32.5% | — | -6.2% | — | — | — |
| EUR · ETF | +5.6% | — | — | +20.9% | — | -3.2% | — | — | — |
| vs Bitcoin buy-and-hold | +7.1% | — | — | +31.9% | — | -5.8% | — | — | — |
TWR windows, then the yearly columns. Each fund is paired with holding Bitcoin in the same currency. Sharpe uses cash as the risk-free line; the full comparison, cash row, turnover and cost drag included, is on each fund's own page.
Which instrument each fund uses for each leg
| fund | ccy | Bitcoin | world stocks | gold | Nasdaq-100 | long Treasuries | cash | cost btc/park |
|---|---|---|---|---|---|---|---|---|
| USD · spot | USD | BTC | ACWI | GLDM | QQQ | TLT | SGOV | 25/5bp |
| USD · ETF | USD | IBIT | ACWI | GLDM | QQQ | TLT | SGOV | 5/5bp |
| EUR · spot | EUR | BTC-EUR | IUSQ | 4GLD | SXRV | IS04 | XEON | 25/10bp |
| EUR · ETF | EUR | IB1T | IUSQ | 4GLD | SXRV | IS04 | XEON | 10/10bp |
Each simulated trade is charged a cost (spot venues and ETFs differ), so the values are not friction-free.
The backtest, for context
backtest · simulatedThe evidence for the claim is the backtest, not the days-old live record. Simulated: no fund existed then and nothing was traded.