The Ethereum Strategy is a closed-end internal strategy run by Terramatris LLC, designed to generate consistent income through disciplined, rules-based Ethereum options trading.
The strategy follows a disciplined, rules-based framework centered on selling cash-secured puts and covered calls. Premiums collected from these option positions are reinvested into spot ETH holdings, steadily compounding long-term exposure while maintaining a structured income stream.
Weekly NAV Changes
Established in August 2023, the strategy has evolved from an early proof-of-concept—initially targeting incremental daily gains - into a systematic, data-driven approach that demonstrates the power of disciplined execution and compounding over time.
Over time, the fund has transitioned from an initial multi-asset trading approach into a dedicated Ethereum-focused strategy, allowing for clearer positioning, tighter execution, and more consistent reporting.
What began as a small trading initiative now serves as the foundation of the broader Terramatris ecosystem, proving that steady execution and transparent performance can create lasting value in the evolving digital asset landscape.
In case there is a 5% or more weekly drop, we might invest up to 1% from total portfolio value in buying the dip
Weekly Options Premium (USDT)
The strategy aims to maintain a stable growth trajectory, supported by recurring options income and guided by the objective of delivering steady weekly performance on invested capital.
We allocate 25% of the fund’s weekly options premium into the development and ongoing support of our native TerraM token.
Ethereum Strategic Reserve
Since February 6, 2026, we have transitioned to a spot-only ETH strategy, steadily increasing our ETH holdings over time.
At this stage, we use margin to acquire additional spot ETH. Once a margin position is opened, our priority is to reduce and eliminate that exposure using weekly options premium income before increasing the spot allocation further.
If the market drops by 5% or more within a week, we will allocate up to 1% of the total portfolio value to opportunistically add to our ETH spot position.