Investments

Elysium Alpha Bitcoin Fund

Bitcoin cannot be staked in the traditional sense. For long-term holders, the question becomes: how can BTC work harder without converting into fiat?

The Elysium Alpha Bitcoin Fund, managed by Abraxas Capital Management, is a market-directional strategy designed to outperform Bitcoin’s price performance in BTC terms. Its objective is to accrue more BTC over time through active arbitrage strategies and conditional upside participation through derivatives-driven execution.

Available to eligible professional clients through AMINA.

What sets this strategy apart?

Designed to accrue BTC

Subscription in the fund is in BTC and performance is measured in Bitcoin, with the objective of growing BTC holdings over time.

Market-directional framework

Maintains exposure to Bitcoin’s upside while seeking to outperform across varying market conditions.

Derivatives-enabled precision

Utilises instruments such as options and futures to express tactical market views and dynamically manage exposure.

Built for long-term BTC allocators

Designed for investors who believe in Bitcoin’s structural value and seek active compounding rather than passive holding.

This strategy may not be suitable for all investors and is intended for those who understand the risks associated with digital assets and derivatives-based strategies.

Learn more

About the strategy

Launched in July 2022, the Elysium Alpha Bitcoin Fund is structured as a Malta-domiciled Alternative Investment Fund under HEKA Funds SICAV plc.

In constructive market phases, the fund seeks to maintain enhanced upside participation through structured options overlays.

During adverse price movements, the objective is, at a minimum, to broadly track Bitcoin’s performance while continuing to accumulate additional BTC through disciplined positioning and active arbitrage strategies.

Subscriptions and redemptions are conducted in Bitcoin.

About Abraxas Capital Management

Abraxas Capital Management Ltd is an authorised and regulated investment manager with over two decades of experience across global macro and digital asset markets.

The firm brings institutional-grade portfolio construction, derivatives expertise, and disciplined risk management to digital asset investing.

The Elysium Alpha Bitcoin Fund represents Abraxas’ flagship strategy for professional investors seeking active BTC management.

Key facts

Strategy type: Actively managed Bitcoin alpha
Asset class: Digital assets
Underlying exposure: Bitcoin
Investment vehicle: Heka Funds SICAV plc – Elysium Alpha Bitcoin Fund
Portfolio manager: Abraxas Capital Management Ltd.
Minimum investment: USD 120’000 (BTC equivalent)
Liquidity: Monthly

Ready to explore the fund?

Speak with our team to see how the BTC Alpha Fund fits your investment strategy.

Investments in digital assets are highly volatile and may result in partial or total loss of capital. The strategy uses derivatives and may employ leverage, which increases risk and volatility. There is no capital protection or minimum performance guarantee. Past performance is not indicative of future results.

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Investor qualification

Elysium Alpha Bitcoin Fund