Digital Reserve 4
Calibrated launch value from the rulebook. The live reading, the chart and the order panel sit on the desk.
Buy ODR4Why 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.
Digital Reserve 4 is the closest thing crypto has to a central-bank-reserve basket. Four assets (BTC, ETH, SOL, BNB), concentrated by liquidity. It is the index a CFO would size when their board accepts crypto exposure but only at the very largest, most-tradable names.
- Highest liquidity floor in the catalogue
- Conservative risk tier · primary collateral on /borrow and /leverage
Written by the OLTA investment committee for this basket.
5 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 | 32% | ||
| 02ETH | 24% | ||
| 03USDS | 20% | ||
| 04SOL | 14% | ||
| 05BNB | 10% | ||
| 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.
- BTC32%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 - ETH24%Core anchor
Ethereum is the only smart-contract platform with the TVL, developer mindshare, and settlement depth to count as core infrastructure.
Outperforms BTC in DeFi cycles and L2 adoption waves. Lags when narratives shift to alt-L1s or when L2 fragmentation eats into mainnet fee capture.
fee-revenue regime risk - USDS20%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
- SOL14%Growth
Solana is the highest-throughput smart-contract platform in production and the credible challenger to Ethereum at the application layer.
Highest beta of the L1 majors. Outperforms in retail-led risk-on phases. Drawdowns sharper than BTC in flight-to-quality regimes.
historical outagesvalidator concentration - BNB10%Core anchor
BNB captures the cash flow of the largest centralized crypto exchange. Quarterly burn-and-buy gives it the cleanest token-to-revenue link of any major.
Tracks Binance volume more than crypto beta. Faces regulatory tail risk when Binance is under enforcement scrutiny.
regulatory tail riskexchange concentration
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. ODR4 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 | +14.3% | 1.46 | +0.44 |
| 1 year | +14.3% | 1.46 | +0.44 |
| 6 months | +14.3% | 1.46 | +0.44 |
| 3 months | +13.4% | 2.12 | +1.03 |
| 1 month | +24.1% | 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.
Less diversified than OCI10 or OCI20. Drawdowns track BTC almost 1 to 1.
- Single-name concentrationMedium
BTC carries 32% of the basket. A drawdown in this single name materially moves NAV.
| Scenario | Loss on net asset value |
|---|---|
| BTC loses half its valueLargest holding, 32.0% of the basket | −16.0%Mechanical |
| The three largest holdings fall 30%BTC, ETH, USDS · 76.0% of the basket together | −22.8%Mechanical |
| The deepest simulated fall repeatsRecorded once in the window, 27 days to recover | −23.2%Recorded |
The mechanical rows hold every other holding still, which is the optimistic case. This basket measured 0.96 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 ODR4
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.