According to Michaël van de Poppe, MNFund returned +10% since Nov 1, 2025, lifting year-to-date performance from Jul 1, 2025 to 17.27%, while Bitcoin BTC delivered -0.46% over the same span, source: @CryptoMichNL on X, Nov 12, 2025. This represents roughly 17.7 percentage points of excess return versus BTC since Jul 1, highlighting reported alpha during a challenging past 1.5 months, source: @CryptoMichNL on X, Nov 12, 2025. For traders, the relative strength versus BTC during a weak or range-bound tape suggests active strategies may outperform based on the reported figures, source: @CryptoMichNL on X, Nov 12, 2025. For more details, the team directed readers to mnfund.nl, source: @CryptoMichNL on X, Nov 12, 2025; mnfund.nl.

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