On November 30, 2023, the Terramatris crypto fund reached a total value of $249.75, marking a weekly increase of $25.31—a gain of 11.28% for the week.
In plain terms: this was another strong compounding week, pushing the fund deeper into the mid-$200 range while keeping returns firmly in double digits.
Late 2023 market commentary frequently pointed to spot Bitcoin ETF optimism as a key driver of sentiment, alongside a broader easing of “tail risk” in crypto markets. Grayscale’s November 2023 market note specifically highlights ETF optimism as a major narrative and discusses a broader market recovery dynamic during the month.
That backdrop fits the numbers this week: BTC was modestly up, ETH slightly down, yet Terramatris delivered a double-digit gain, suggesting portfolio-specific drivers (position selection, trading, or higher-beta exposures) dominated the result more than simple BTC/ETH direction.