The Alpha Framework: An Analysis of the “Coinbase Effect”

Avi Felman
Mar 1 · 8 min read
Lions = pure alpha
From the Ledger Capital pitch deck. The old days.

The Alpha Framework

Some Background:

The Analysis:

Source: Wave Financial Calculations
Source: Wave Financial Calculations. To calculate ETH excess returns I only used BTC returns during that time frame.
Source: Wave Financial Calculations

Wave Financial

Wave Financial offers early-stage investment, asset management, and treasury management to further the growth of the digital asset ecosystem

Thanks to Marc Weinstein.

Avi Felman

Written by

WashU ’17. Crypto enthusiast. Builder of three multi dollar companies @BearStudios, @VentureFocus, @LedgerCapital. Telegram @delta_neutral

Wave Financial

Wave Financial offers early-stage investment, asset management, and treasury management to further the growth of the digital asset ecosystem