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Chris Solarz、DAS 2025で暗号資産運用の3つのサイロを公開

Chris Solarz、DAS 2025で暗号資産運用の3つのサイロを公開

At the Digital Asset Summit 2025 in London, Chris Solarz, the Chief Investment Officer for Digital Assets at Amitis Capital, shared some eye-opening thoughts on the crypto world. In a clip posted by @blockworksDAS, he breaks down the crypto asset management universe into three distinct silos. If you're diving into meme tokens or broader blockchain investments, understanding these categories can give you a real edge. Let's unpack what he said and why it matters, especially for the meme token crowd.

Who Is Chris Solarz and Why Listen to Him?

Chris Solarz isn't new to the investment game. With over 20 years under his belt in alternative investments, he's seen the highs and lows of markets. He jumped into crypto back in 2017-2018, drawn by those juicy arbitrage opportunities that were basically printing money at the time. Now at Amitis Capital, he runs a fund-of-funds setup, investing in other funds across venture and liquid strategies. Think of it as a diversified basket where he picks the best managers to handle the details. His approach blends old-school finance wisdom with crypto's wild inefficiency – he compares it to the hedge fund scene from 35 years ago, full of alpha (that's outperformance beyond the market) but riddled with duds.

In his talk, Solarz emphasizes beating Bitcoin's returns without just riding its waves. If Bitcoin 5x's your money, he aims for 10x or more. And that's where his three-silo framework comes in handy for structuring portfolios.

The Three Silos of Crypto Asset Management

Solarz views the crypto space as divided into three main buckets, each with its own risks, rewards, and strategies. This isn't about neat labels – crypto's messy – but it helps allocators like him diversify and chase those asymmetric wins (big upsides with controlled downsides). Here's the breakdown:

  1. Liquid Market Neutral Strategies
    This is the biggest chunk in Solarz's portfolio, around 70%. These are trades that aim to make money regardless of whether the market goes up or down. Think arbitrage (exploiting price differences across exchanges) or technical trading based on patterns and data. Why prioritize this? It's repeatable, low-correlation to Bitcoin's volatility, and can deliver steady 20%+ annual returns. For meme token fans, this silo might not directly involve your favorite dog-themed coins, but it's where smart money hedges against the chaos that meme pumps and dumps create.

  2. Liquid Directional Strategies
    Making up about 20% of his allocation, this is where the action is for token pickers. These managers go long on specific tokens, betting on fundamentals like tech, community, or hype. Solarz calls it a "call option on altcoins" – high potential for 200-500% gains, but with brutal drawdowns if things go south. Meme tokens shine here! They're often small-cap plays with explosive upside, especially on chains like Solana, which was highlighted in the summit's livestream sponsor. If you're trading memes, you're essentially in this silo, but Solarz warns: most managers underperform Bitcoin, so pick wisely and consider parking cash in top assets like SOL during waits.

  3. Venture Investments
    The smallest slice at 10%, this is the long-game play: investing in early-stage projects before they hit the market. It's illiquid (your money's locked up for years) but can yield 10x+ returns if you back winners like emerging protocols in AI, payments, or real-world assets (RWAs). For memes, this could mean seed funding for new community-driven tokens or ecosystems. Solarz prefers crypto-native teams here for their edge in spotting gems, and he diversifies across chains like Ethereum, Solana, and even Asian-focused ones to catch global trends.

These silos aren't rigid – Solarz notes that nothing in crypto fits perfectly – but they guide his top-down macro view mixed with bottom-up manager picks. He's bullish on liquid strategies growing as investors get comfy with volatility, flipping the current trend where venture sucks up 80% of capital.

How Meme Tokens Fit Into These Silos

Meme tokens, those viral, community-powered coins like DOGE or newer Solana-based hits, mostly land in the liquid directional silo. They're directional bets on hype, adoption, and sometimes utility. Solarz's insights are gold for meme investors because he stresses avoiding fees for plain beta (just holding Bitcoin) and seeking real alpha. In a meme context, that means looking beyond pumps: analyze teams, ecosystems, and even geography (he highlights Asia's massive wallet share).

With Solana sponsoring the DAS livestream, it's no surprise memes get a nod – Solana's fast, cheap transactions have fueled meme token explosions. If you're building or trading memes, consider Solarz's advice: diversify across silos to mitigate risks, like using market-neutral plays to balance your directional meme bets.

Key Takeaways for Blockchain Practitioners

Solarz's framework at DAS 2025 reminds us that crypto asset management is maturing, borrowing from TradFi while embracing blockchain's uniqueness. For meme token enthusiasts, it's a call to think strategically – don't just chase the next viral coin; understand where it fits in the bigger picture. Whether you're an allocator or a retail trader, focusing on repeatable alpha and diversification could be the difference between riding the wave or getting wiped out.

If this sparks your interest, check out more from Chris on X or dive into Amitis Capital's strategies. Stay tuned to Meme Insider for more breakdowns on how top minds view the meme token space!

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