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

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