BTC++ RWA 50
Calibrated launch value from the rulebook. The live reading, the chart and the order panel sit on the desk.
Buy OBTCR50Why this basket exists
What the construction is trying to capture, who it is built for, and how it is meant to be sized inside a wider allocation.
Half the weight in Bitcoin, half in tokenized real-world assets. ONDO holds tokenized US treasuries, SKY backs USDS partially with treasuries, PAXG anchors physical gold, CFG provides on-chain credit, POLYX runs the regulated security-token rail. A BTC-anchored construction that adds a yield-bearing RWA sleeve without diluting the core crypto position into mid-cap altcoins. For allocators who want Bitcoin exposure plus the RWA narrative in one ticker.
- Diversified family · Moderate risk tier
- Rule-based, divisor-method NAV
No committee note is published for this basket yet, so the catalogue description above stands in until one is written.
6 holdings, drawn to scale
Each tile's area is its weight in the basket, so the picture and the table below it are the same data read two ways.
| Holding | Share | Weight | |
|---|---|---|---|
| 01BTC | 50% | ||
| 02ONDO | 18% | ||
| 03SKY | 12% | ||
| 04PAXG | 10% | ||
| 05CFG | 5% | ||
| 06POLYX | 5% | ||
| Total | 100% |
Why each name earned its seat
Research notes per constituent: the case for the asset, the regime that suits it, and the risk the seat carries.
- BTC50%Core anchor
Bitcoin is the only crypto asset that clears the institutional bar on every dimension: deepest order books, longest track record, lowest custody friction.
Strongest in flight-to-quality and pro-risk macro phases when liquidity is abundant. Underperforms in altcoin rotations and AI-narrative cycles.
concentration risk - ONDO18%Yield
Ondo Finance is among the largest tokenized treasury issuers and a category-defining brand in the RWA stack.
Performs in RWA-narrative phases and high-rate regimes. Underperforms in pure-crypto altcoin cycles and if rate cuts compress treasury yields.
regulatory uncertaintyrate-cycle sensitivity - SKY12%Yield
Sky (formerly MakerDAO) operates the USDS and DAI stablecoin franchises and routes meaningful collateral into RWA strategies.
Performs in RWA-narrative and high-rate regimes when RWA collateral earns wide spreads. Sensitive to DAI peg incidents and stablecoin regulation.
stablecoin regulationpeg event risk - PAXG10%Hedge
PAX Gold is the largest tokenized physical gold asset on-chain. The cleanest macro-hedge expression in an on-chain portfolio.
Performs in flight-to-quality, stagflation, and dollar-weakness regimes. Underperforms in pro-risk crypto cycles.
custody concentration - CFG5%Yield
Centrifuge tokenizes private credit and trade finance on-chain. The cleanest pure-play on tokenized credit at scale.
Performs in credit-spread-widening regimes. Underperforms when capital prefers larger-cap RWA exposure.
lower liquiditycredit-default exposure - POLYX5%Infrastructure
Polymesh is the regulated security-token L1 with identity, accreditation, and transfer restrictions native to the protocol.
Performs in regulated-issuance phases. Sensitive to regulatory clarity around security tokens.
thin liquidityregulation dependence
What the numbers say
Simulated on historical constituent prices. A Sharpe is only published once the measured window clears 90 days, and drawdowns keep their sign.
Every figure above is simulated on historical constituent prices for a basket that has not traded. It describes how the rules would have behaved, not how they will behave. OBTCR50 is part of a public preview.
Max expected loss over the horizon · 95% confidence · historical distribution. There is a 5% chance the actual loss is larger.
| Window | Return | Sharpe | vs BTC |
|---|---|---|---|
| Full window | +5.7% | 0.37 | −0.11 |
| 1 year | +5.7% | 0.37 | −0.11 |
| 6 months | +5.7% | 0.37 | −0.11 |
| 3 months | +0.3% | 0.03 | −1.06 |
| 1 month | +13.5% | Not graded | · |
Returns are simulated over each window. A Sharpe is published only once that window clears 90 days, so the shorter rows read Not graded and carry no comparison with bitcoin. Short windows flatter and punish at random; read the full window first and treat the rest as texture.
What could go wrong
Priced off this basket's own weights rather than off a generic disclaimer, so every figure below can be checked against the table above.
Drawdowns of 30 to 50% are within historical range during cycle bottoms, tracking the broader crypto market. Family-standard caps and rebalancing rules apply.
- Single-name concentrationHigh
BTC carries 50% of the basket. A drawdown in this single name materially moves NAV.
- Short price historyMedium
ONDO, SKY have under a year of usable history. Backtest metrics carry wider error bars.
- Deep historical drawdownMedium
Max drawdown reached −51% in the backtest window. Size accordingly.
| Scenario | Loss on net asset value |
|---|---|
| BTC loses half its valueLargest holding, 50.0% of the basket | −25.0%Mechanical |
| The three largest holdings fall 30%BTC, ONDO, SKY · 80.0% of the basket together | −24.0%Mechanical |
| The deepest simulated fall repeatsRecorded once in the window, 417 days to recover | −50.9%Recorded |
The mechanical rows hold every other holding still, which is the optimistic case. This basket measured 0.91 correlation to bitcoin over its window, so its holdings tend to fall together rather than one at a time. Read the figures as a floor on the damage, never a ceiling.
The research behind the construction
Take a position in OBTCR50
ConvictionSelective thematic allocation. Size it as a sleeve, not as a core position.
Size a position against the live net asset value, with the full record on the same screen. Funds in this public preview are simulated, so an order here moves a simulated balance and settles nothing. The EVM settlement rail opens with mainnet in the first half of 2027.