RSCF OCTOBER 2017

CRYTOCURRENCY INVESTMENT FUND

  • +79.27% (Class A)
  • N/A (Class F)

Cryptocurrency Investment Fund

The Cryptocurrency Fund gained +79.3% for the month of October.  The Fund’s portfolio now consists of two cryptocurrencies, after it was issued Bitcoin Gold (“BTG”) when the cryptocurrency effected a “hard fork” of the Bitcoin blockchain on October 24th. A “hard fork” is the equivalent of a spin-off or dividend, in which we are issued an additional asset.  BTG now accounts for approximately 2.2% of the Fund’s portfolio, while bitcoin (“BTC”) accounts for 97.8%.  RSAM continues to work diligently with regulators and service providers in order to further diversify its portfolio into additional crypto assets.  


On October 31st, the CME Group announced it was launching a bitcoin futures contract, expected to be listed in December 2017.  This followed CBOE Holdings’ announcement in August to list bitcoin futures by early 2018.  The listing of bitcoin futures presents a significant upcoming catalyst for bitcoin, which will bring a flood of additional demand for the asset.  We believe this potential substantial increase in demand may be positive for the price of cryptocurrencies.

Julian Klymochko, CFA 

Trout Taylor