The Terramatris Solana Covered Calls Growth Fund completed its second full month of operations in October 2025. The Fund continued to follow its systematic covered call strategy on Solana (SOL), maintaining disciplined position management amid heightened crypto market volatility.
By the end of October, the Fund had 12,171 shares issued, bringing total Assets Under Management (AUM) to $10,831 based on a closing NAV of $0.89 per share. This represents a 95.6% increase in AUM from September’s level of $5,536.
Solana’s market price declined from $208 to $186 (-10.6%) over the month, while the Fund’s NAV decreased 4.3%, demonstrating relative resilience and approximately +6.3% outperformance versus the underlying asset.
The Fund remains open to new capital commitments until total AUM reaches $100,000. TerraM Fund, one of our core investors, continues biweekly contributions of $100, supporting consistent capital growth.
For full details on Fund activity, performance, and strategy outlook, please refer to the attached monthly report.