PARTNER CONTENT
Amitis Capital Digital provides diversified exposure to leading opportunities across the digital assets ecosystem. Chief Strategy Officer Adil Abdulali outlines how the strategy aims to capture both market beta and differentiated alpha by allocating to a curated portfolio of best-in-class digital asset managers.
Please describe your firm’s flagship investment strategy and what makes it special.
Amitis Capital Multi-Strategy Fund uses market neutral strategies denominated in bitcoin to outperform bitcoin. The fund leverages bitcoin as pristine collateral for funding non-directional liquid hedge fund strategies and combines uncorrelated strategies into an attractive risk-adjusted portfolio. This portfolio generates new bitcoin to outperform bitcoin in any fiat currency.
What are the three key selling points of your business and investment thesis?
First, despite the growth of the digital asset market and its evolution towards a more institutionalised asset class, we believe digital assets are still one of the most structurally inefficient markets globally, creating persistent opportunities for skilled active managers. Unlike in traditional markets, information asymmetry, fragmented liquidity, evolving infrastructure, and rapid innovation continue to generate alpha opportunities across trading, arbitrage, volatility, and DeFi strategies.
Second, our approach is centred on manager selection rather than dependence on a single strategy or market direction. We allocate across a diversified set of specialist managers and strategies, which we believe creates a more resilient portfolio capable of adapting to changing market environments.
Third, we combine deep digital asset expertise with institutional investment discipline. Our background in traditional finance informs our emphasis on portfolio construction, operational due diligence, risk management, structuring, and governance – areas that have become increasingly important as institutional participation in the asset class accelerates.
In terms of a market event or period, what has been the biggest challenge your investment strategy has faced since its inception?
The two most challenging periods were the FTX collapse in 2022, which was the ultimate counterparty stress test, and the October 10th, 2025 deleveraging episode that sucked liquidity out of the markets and left lingering doubts about when these strategies will perform again.
The unforeseen benefit of the FTX collapse was that the market has since developed many ways to reduce counterparty risk. One is to use off-exchange settlement, a mechanism that proliferated post-2022. Another is on-chain analytics that can warn real-time if certain exchange or whale wallets have unusual movements.
One of the defining characteristics of digital assets is that periods of stress often accelerate market maturation and create opportunities for disciplined managers.
What has been the most significant change you’ve observed in the global crypto industry in the past 12 months?
The most significant shift has been the continued institutionalisation of the digital asset market where dominant flows and narratives have switched from retail to institutional. The conversation has evolved from whether institutions will participate to how they will participate.
Over the past 12 months, we’ve seen meaningful progression across regulatory clarity, market infrastructure, tokenisation initiatives, and corporate adoption of blockchain-based financial products. Institutional investors are increasingly looking beyond passive bitcoin exposure and exploring differentiated strategies designed to generate alpha, manage volatility, and access opportunities emerging from the evolution of on-chain finance.
Market participants are becoming more sophisticated, risk management tools are improving, and the distinction between traditional finance and digital assets continues to narrow.
How do you see investor appetite shifting over the next 12 months?
As the asset class matures, allocators are increasingly evaluating digital assets through the same lens they apply to traditional assets and hedge funds: focusing on diversification, risk-adjusted returns, liquidity management, alpha not beta, and manager specialisation.
As projects increasingly have tokens that generate revenue from real businesses that provide a service to their users, these tokens become susceptible to “equity” type analysis, comforting investors and transforming from hype to hope to high finance. We believe that eventually every serious investor will own some.
Adil Abdulali, Chief Strategy Officer, Amitis Capital Digital – Adil oversees all aspects of selecting, developing, and managing the platform’s digital asset strategies. Formerly a founder and CIO of Samara Alpha Management, Adil brings 30+ years in traditional, alternative, and digital asset management, with expertise in investment, risk management, valuation, and systems development. Previously, Adil was president and Chief Science Officer at Protégé Partners, where he seeded more than 50 diverse hedge funds globally. Adil began his Wall Street career at JP Morgan as a mortgage derivatives trader and subsequently held senior roles at, Nikko, Nomura, and Barclays. He earned an MA in Mathematics from MIT and a BA from UPenn.
