The Crescent Crypto Market Index Fund (the “Fund”) is a rules-based, passive investment strategy that tracks the performance of the Crescent Crypto Market Index, a basket of the largest and most liquid digital assets. The Fund employs a trailing 90-day average market cap weighted selection methodology that represents over 85% of the market cap of the investable cryptocurrency universe.
The fund was incepted on January 1st, 2018.
The Fund could include up to a maximum of 20 digital assets but will vary based on the market cap selection and weighting methodology of the Crescent Crypto Market Index.
The Fund is rebalanced monthly to match the holdings and weightings of the Crescent Crypto Market Index.
Only “Accredited Investors” are authorized to invest in the Fund (as defined by the SEC here). In general, to qualify as an Accredited Investor, individuals must have a net worth of more than $1 million (excluding their primary residence), or gross income for each of the last two years of at least $200,000 ($300,000 jointly with their spouse) with the expectation of a similar qualifying income during the current year. For entities,
common criteria are having total assets in excess of $5 million or if all of the equity owners are accredited investors.
We currently accept investments from self-directed IRAs. Please contact us for more details on how to invest with IRA assets.
We do accept in-kind contributions. Please contact us in advance to learn more about how we facilitate this option for our investors.
The investment minimum of the Fund is $50,000.
The fund offers both weekly and daily subscriptions subject to the investor commitment levels outlined below:
|$249,999 or less||Weekly (Each Thursday)|
|$250,000 or more||Daily|
Investors can redeem from the Fund on the Thursday of each week. Investors must provide 1-week advanced notice to Crescent Crypto on or before the previous Thursday. For example, if an investor wanted to redeem their position on Thursday, February 21 st the redemption request would have to be submitted on or before Thursday, February 14th.
The Fund offers investors a tiered pricing schedule that is determined by the initial investment minimum.
Details on fees are outlined below:
|Initial Investment Minimum||Annual Expense Ratio|
|Tier 1||$25,000 to $249,000||2.00%|
|Tier 2||$250,000 to $999,999||1.50%|
|Tier 3||$1,000,000 and above||0.95%|
Investors pay one all-in fee which includes the Fund’s management fee and customary expenses (custody, audit, admin, tax). Interested investors can learn more about our fees on our firm’s Pricing Page.
Crescent Crypto Asset Management, LLC is the Cryptocurrency Custodian and responsible for the safekeeping of all cryptocurrency assets in the Fund. All assets are held in 100% Cold Storage. The term “Cold Storage” describes the method by which underlying private keys for a given cryptocurrency wallet are generated offline and maintained offline via air gapped devices. Practically, cold storage and offline authentication is the safest way to store and transfer funds.
We work with a selection of best-in-class fund service providers including our Fund Administrator, Triple Leo Consulting. The Fund Administrator provides all investors with Net Asset Value (NAV) reports on a monthly basis to help you keep track of your investment performance. We also work directly with our investors to provide detailed portfolio updates on an ongoing basis.
The Fund is treated as a pass-through partnership for tax purposes. The Fund generates a K-1 each year.