The portfolios achieved a negative return between -10% and -15% in June.
The relatively large position of the portfolio in Bitcoin reduced the loss at the portfolio level. Bitcoin’s price at the end of the second quarter (as of June 30) was $35,000. Compared to the high on April 14 ($64,000), the price of Bitcoin has fallen more than 45%. Since mid-May, Bitcoin’s price has been moving in the range of $30,000 and $40,000.