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ADCF was co-founded by Lee Robinson and Alistair Milne and started trading in May 2014. Actively managed (trades up to 110% of NAV), going long and short aiming to capture the excess volatility and outperform a passive investment. Invests mostly in Bitcoin, but also trades other cryptocurrencies (Bitcoin Cash, Litecoin and Ethereum) with a market cap > $20 million. A minimum of 70% of the fund’s cryptocurrencies are held in “cold storage” (secure offline wallets) rather than left with counterparties and Bitcoin exchanges.