Onboarding in minutes
Email · OTP · password · deposit address assignment. The 12-month lock-up starts on confirmed deposit.
Twelve slides · full deck
White Whale Fund
Structure before speculation.
AI-native algorithmic crypto hedge fund · Ciudad de México · 2026
Net return · 2025
+34.53%
Max drawdown
−8.48%
Alpha vs BTC · 2025
+44.96%
01
The Opportunity
Crypto returns are a function of drawdown control.
Markets do not fail investors — unmanaged drawdowns do. Buy-and-hold crypto exposes capital to drawdowns most investors cannot sit through. Our mandate is to engineer exposure that captures the asymmetry while protecting the downside.
Bitcoin · Full year 2025
−10.43%
White Whale Fund · Full year 2025
+34.53%
Same market. Different drawdown path.
02
Track Record · 2025
+34.53% net while Bitcoin fell −10.43%.
Twelve months of monthly attribution. Volatility-aware exposure absorbed the drawdowns that crushed buy-and-hold.
Net return
+34.53%
BTC purchasing power
+40.73%
Max drawdown
−8.48%
Monthly net returns
+3.6Jan
-1.9Feb
+1.4Mar
+4.5Apr
+1.5May
+0.8Jun
-2.1Jul
+5.6Aug
+1.3Sep
+19.5Oct
-6.0Nov
+3.8Dec
Bitcoin benchmark −10.43%Ethereum benchmark −18.33%
03
Five Years of Evidence
Ten mandates across two cycles — reported in full.
The CIO's track record spans CHC, DHC and JARE. This includes the bull markets where volatility-capped strategies trail buy-and-hold BTC. Transparency is the point.
| Fund | Product | Period | Net | BTC | Alpha |
|---|---|---|---|---|---|
| CHC | First Issue | Dec 2019 – Dec 2020 | +39.20% | +153.00% | -113.80% |
| CHC | Issue II | Jan 2021 – Sep 2022 | +16.04% | -66.93% | +82.97% |
| CHC | Issue III | Jan 2021 – Apr 2023 | +16.12% | -54.24% | +70.36% |
| CHC | Issue IV | Jan 2021 – Apr 2023 | +31.43% | -50.03% | +81.46% |
| DHC | Certus 2023 | Jan – Dec 2023 | +29.77% | +146.14% | -116.37% |
| DHC | Libra 2023 | Jan – Dec 2023 | +20.91% | +146.14% | -125.23% |
| DHC | Audentis 2023 | Jan – Dec 2023 | +5.49% | +146.14% | -140.65% |
| DHC | 2021 | Jan – Dec 2021 | +81.71% | +59.79% | +21.92% |
| DHC | 2020 | Jan – Dec 2020 | +65.93% | +306.90% | -240.97% |
| JARE | 2025 | Jan – Dec 2025 | +34.53% | -10.43% | +44.96% |
We protect on the way down, participate on the way up — not the other way around.
04
Strategy
Volatility-targeting quantitative engine.
Two proprietary systems, one thesis: risk-adjusted returns beat headline returns over a full cycle.
Flagship · Tidal Engine
Regime-aware quantitative model
Drawdown segmentation
Statistical decomposition of drawdown regimes projects expected returns across the cycle.
Regime-aware allocation
Exposure expands in trending regimes and contracts through volatility shocks.
Zero emotional interference
Rules execute before narratives form. No fear trades. No euphoria trades.
Foundation Engine
Trend-following engine · $45M+ executed
The execution layer running underneath every mandate since 2020 — tested through the 2021 blow-off, the 2022 collapse and the 2023 rally.
Foundation Engine
$45M+
05
Framework
Six components. One operating rhythm.
The same architecture we run in production — from market regime identification through continuous system evolution.
01
Regime identification
Statistical clustering defines the active market environment.
02
Dynamic allocation
Position sizing scales with regime probability, not conviction.
03
Capital rotation
Systematic flows between BTC, ETH and stablecoins through the cycle.
04
Reporting cadence
Daily dashboard, monthly attribution, annual review.
05
Custody & ops
Segregated accounts, read-only API, manual redemption controls.
06
System evolution
Parameters refined out-of-sample to preserve alpha across regimes.
06
Risk First
Risk is a first-class variable — not a constraint.
Five guardrails define every position we take. Downside protection is not a marketing claim; it is the architecture.
- 01
Volatility-aware exposure algorithmically reduced in stress regimes
- 02
12-month lock-up prevents panic redemptions from destroying compounding
- 03
Segregated custody via Binance read-only API — the fund never controls your assets
- 04
Per-investor high-water mark ensures no success fee without new profits
- 05
Zero performance fees when the annual return is negative
Markets do not fail investors — unmanaged drawdowns do. Risk is treated as a variable to be engineered, not a byproduct to be tolerated.
07
Terms
Institutional terms. No loopholes.
The terms are the same for every investor. They align incentives with the mandate: long horizons, volatility-aware exposure, and performance fees only on new high-water marks.
Minimum investment
$25,000 USDT
Individual minimum per investor · USDT only
Lock-up
12 months
Measured from the first confirmed deposit
Management fee
2% p.a.
Charged monthly, applied to investor equity
Performance fee
20% above HWM
Charged annually · high-water mark per investor
Currency
USDT
TRC20 · ERC20 · BEP20 supported networks
Venue
Binance
Spot · margin · futures · read-only API integration
No performance fee is charged when the annual return is negative. Zero exceptions.
08
Operations
Same rhythm every month. Every regime.
The operational model is deliberately boring — manual approvals, read-only custody, and a daily dashboard that reflects the real balance on Binance.
Daily dashboard
Equity, PnL and benchmarks updated daily from the Binance read-only API.
Monthly reporting
Monthly net return, attribution, drawdown detail and benchmark comparison. No cherry-picking.
Manual redemptions
After the lock-up: 24 to 48 hour cooldown, identity re-verification, manual CIO transfer. No self-service withdrawals.
09
Team
Two founders. One mandate.
The team is deliberately small. Every decision is signed by a person, not a process.
Co-Founder · Chief Investment Officer
José Andrés Ruiz Elizondo
Civil Engineer from Tecnológico de Monterrey. Five years running algorithmic crypto funds — Managing Partner at Crypto Hedge Capital and Digital Hedge Capital, Founder of JARE Investments.
I approach capital markets with the mindset of a Civil Engineer: structure comes before speculation.
Co-Founder · Legal & Capital
Joseph Sasson
Lawyer based in Mexico City. Leads legal structure, compliance and capital raising. Architect of the offshore framework for institutional scale.
10
Philosophy
Three tenets. Non-negotiable.
The operating principles that shape every decision — from position sizing to investor onboarding.
01
Radical transparency
Every month. Every drawdown. Every regime shift. If capital is at risk, opacity is unacceptable.
02
Finite capacity by design
Access is granted by mandate alignment, not volume. Capacity is intentionally finite.
03
Handle the truth
We assume investors can handle the truth. No euphemisms. No selective reporting.
11
Access
Private mandate. Qualified investors only.
Two paths to begin — start onboarding directly through the investor portal, or send a short note about your mandate alignment.
Direct line
info@whitewhalefund.comPast performance is not indicative of future results. All investment carries risk. We target asymmetry, not guarantees. The fund is operated in USDT; cryptocurrency investments carry material volatility risk. Performance shown for prior mandates (CHC, DHC, JARE) is presented as CIO track record and is not a direct track record of White Whale Fund.