Daleki Capital
Private access
  1. Daleki Capital
  2. Funds
  3. Bitcoin Fund

Digital store of value

Bitcoin Fund

Bitcoin as a long-term reserve, managed under written rules.

A Bitcoin treasury built with patience: disciplined accumulation, no leverage and no rotation into other assets. The fund exists for investors who want direct exposure to the most established digital asset without managing keys, exchanges or short-term decisions themselves.

Horizon
Long term, 4 years or more
Risk
3 / 5
Talk about this fundSee terms
Horizon · Long term, 4 years or more

01 / The opportunity

Why this fund exists.

A core position within the crypto portion of a portfolio. It is the base on which more active exposures can be built.

01

Scarcity written into the code

The Bitcoin protocol sets a cap of 21 million units and no central authority can raise it. New issuance is cut in half roughly every four years: the latest halving took place in April 2024 and the next is expected around 2028 (CoinGecko, 2024). That predictable monetary policy, known in advance by every participant, is the foundation of its store-of-value thesis.

02

Institutional access has opened

In January 2024 the US SEC approved the first spot Bitcoin exchange-traded products (Congressional Research Service, 2024). That opened the door to advisers, pension funds and corporate treasuries that previously could not buy the asset directly. Structural demand no longer depends only on retail investors, and that changes the quality of the market over the long run.

03

Neutral to governments and banks

Bitcoin does not depend on a central bank’s policy, an issuer’s solvency or a single country’s jurisdiction. For a Latin American investor who has seen devaluation and capital controls first hand, that neutrality has concrete value. It is an asset that can be verified, transferred and held without asking an intermediary for permission.

04

Discipline is the edge

Most investors who lose money on Bitcoin do not lose it because of the asset, but by buying in euphoria and selling in panic. A vehicle with written accumulation rules and no leverage removes much of that behavioral error. The thesis is not to time the cycle, it is to still be invested when the cycle turns.

02 / How we manage it

Written rules, not impulses.

  1. 01

    Systematic accumulation

    Capital is deployed in tranches on a defined schedule, modulated by on-chain signals and the macro regime. This avoids committing everything at a single point in the cycle.

  2. 02

    More weight in capitulation

    When on-chain indicators signal structural capitulation, the fund can accelerate accumulation using operating cash reserved for that purpose. The rules for doing so are written in advance, not decided in the heat of the moment.

  3. 03

    No leverage, no rotation

    The fund uses no debt, futures or speculative derivatives, and it does not rotate into other cryptocurrencies or chase on-chain yield. The exposure is Bitcoin and operating cash, nothing else.

  4. 04

    Segregated custody and reporting

    Custody is segregated and specified in each investor’s contract. You receive periodic position reports so you always know what is held and where.

03 / Portfolio

What goes in and what doesn’t.

Includes

  • Bitcoin (BTC) as the fund's sole core position
  • Operational USD/USDC for tactical entries during capitulation

Excludes

  • Altcoins, ETH, on-chain yield exposure
  • Leverage, futures, speculative derivatives
  • Self-custody, hot wallets, retail exchanges

04 / Investor profile

Who it is for. And who it is not for.

A fit if

  • Investors who want long-term Bitcoin exposure without handling keys or exchanges.
  • Families seeking a reserve outside the traditional banking system and any single jurisdiction.
  • Those who already believe in the thesis but know they struggle to stay disciplined through sharp declines.
  • Investors who prefer one clear exposure over a diversified crypto portfolio.

Not a fit if

  • Anyone who needs short-term liquidity or cannot tolerate seeing the position fall by half or more.
  • Anyone looking for periodic income or yield on their holdings.
  • Anyone expecting to beat Bitcoin through active management: the fund aims to track it with discipline, not outperform it through trading.

05 / Terms

Clear from day one.

These are the fund’s reference terms. The final ones are set in your private contract, which we review with you point by point before signing.

Minimum investment
USD 100,000Per investor, under contract
Management fee
2% per yearOn assets under management
Performance fee
20%Only on net gains above the previous peak (high-water mark)
Minimum term
12 monthsQuarterly redemptions after the term
Redemption notice
60-day noticeBefore each quarterly window
Benchmark
BTC/USDFor comparison, not a return target

Segregated custody under contract, with periodic position reporting. Daleki Capital is not a regulated financial institution; it operates through private contracts.

06 / Risks

What can go wrong.

  • Deep and prolonged drawdowns. In each previous bear market, Bitcoin’s price fell at least 77% from its all-time high (Fidelity, February 2026). Those declines can last more than a year. The fund does not hedge against them, so its value reflects them almost entirely.
  • Single-asset concentration. The entire exposure is Bitcoin. There is no diversification within the fund to cushion a problem specific to the asset, whether technical, adoption-related or market-driven.
  • Regulatory risk. Rules on digital assets change by country and can tighten. Restrictions on purchasing, custody or taxation, in Ecuador, the United States or elsewhere, can affect the price and the fund’s operations.
  • Custody and operational risk. A bearer asset depends on how its keys are held. Although custody is segregated and defined in the contract, no arrangement fully removes the risk of technical failure, human error or third-party default.
  • Vehicle liquidity. Although Bitcoin trades every day, your interest in the fund can only be withdrawn in the windows and periods set by the contract. If you need the money sooner, it may not be available.

07 / FAQ

What investors ask us.

Why not just buy Bitcoin myself?

You can, and for many people that is the right choice. The fund makes sense if you prefer to delegate custody, execution and above all discipline: buying by rule and not selling in panic is harder than it looks.

Does the fund try to beat Bitcoin?

That is not its main goal. Its benchmark is the price of Bitcoin in dollars. Modulated accumulation aims to improve the average entry price, but the outcome depends mostly on what Bitcoin does, and it can fall short of it.

Where is the Bitcoin held?

Custody is segregated and its specific arrangement is set out in your contract. You receive periodic position reports.

When can I withdraw my capital?

According to the holding period and redemption windows shown in this profile’s terms table and in your contract. It is best to invest only capital you will not need during that period.

What happens if Bitcoin falls sharply?

The fund’s value falls with it. The rules allow operating cash to be used for accumulation in capitulation zones, but there is no protection against the decline. Anyone investing here should be prepared to see it and stay the course.

08 / Next step

Let’s talk about the Bitcoin Fund.

A manager reviews your goal, your horizon and whether this fund fits. No commitment and no pressure.

Other funds

Ethereum FundOpen financial infrastructureInnovation FundActive, thesis-driven managementAI FundAI in crypto

Private access

Book a conversation

Requesting information does not commit you to invest. Before signing we review your profile, your goals and the contract with you.