Core Plus is an actively managed strategy for bitcoin holders, run by an SEC-registered advisor in partnership with Two Prime. The strategy seeks BTC-denominated returns and is designed for investors who want their bitcoin position actively managed rather than sitting idle. Specific return objectives, performance history, and detailed strategy materials are reviewed with qualified investors in a private conversation with our team.
The Core Plus strategy involves a high degree of risk including loss of principal. Bitcoin is a volatile asset. Any return objectives, projections, or historical performance figures discussed in private materials or conversations with our team are objectives, not guarantees. Past performance, including simulated and backtested performance, does not predict future results. Available to accredited investors only.
You watched BlockFi collapse. Celsius. Genesis. Every yield product asked you to make the same trade: hand your bitcoin to a single counterparty, hope they didn't rehypothecate it, and check every morning that they were still solvent.
That kind of dependence on a single counterparty is the risk most BTC holders we work with have tried to avoid for years. The result, for many, was leaving large positions completely idle through multiple cycles because the alternatives weren't worth the operational and counterparty exposure.
Core Plus is what an actively managed bitcoin strategy looks like when an SEC-registered advisor sits on top of it, when custody is spread across institutional venues, and when the trading team came out of Goldman Sachs derivatives and convertibles.
The strategy doesn't remove risk. It changes the risks you're taking.
Returns measured in bitcoin, not dollars.
Minimum investment.
DWP Advisory + Two Prime Management/Performance. High watermark applies to performance fee.
Institutional custody and trading partners.
The strategy can produce losses. Bitcoin returns can also produce losses when measured in U.S. dollars. Past performance does not guarantee future results.
Core Plus combines Two Prime's funding-arbitrage book with their tactical options and futures book. The combination is designed to seek yield from inefficiencies in the bitcoin options and funding markets rather than from spot price appreciation. The strategy can still lose money, including principal.
Exploits structural inefficiencies between spot and derivative markets. Generates a base yield that is generally delta-neutral.
Uses a portion of the funding yield to buy downside protection or sell covered calls. Aims to capture upside while hedging severe drawdowns.
The strategy seeks to grow the number of bitcoin you hold. It measures success in BTC terms, not USD terms.
Core book historical results referenced above are provided by Two Prime. Past performance does not guarantee future results.
Accredited investor verification, SMA account titled in your name or entity, and KYC handled through standard digital onboarding. DWP serves as your registered investment advisor with fiduciary obligations.
Your bitcoin moves into institutional custody across Fidelity, Coinbase, and the strategy's other custody partners. You retain beneficial ownership. The strategy has trading authorization, not ownership.
Two Prime executes the Core Plus book across both the funding-arbitrage and tactical options strategies. Daily reporting on positions and performance.
Monthly redemptions with 10 business days notice. 90-day initial lockup. This is not a daily liquidity product. The lockup is designed to give the strategy time to deploy and unwind positions without forced liquidations.
You have visibility into your holdings and the strategy's positions throughout your time in the SMA.
Two Prime built the Core Plus risk framework across three dimensions, reviewed continuously. The framework is designed to manage risk. It does not eliminate it. The strategy can lose money.
The strategy operates across top-tier regulated exchanges and qualified custodians.
Two Prime continuously monitors exchange health, moving assets to cold storage when they aren't actively deployed.
The strategy does not use DeFi protocols where code vulnerabilities could trigger a total loss.
DWP's management fee is reduced for deposits of $1.1 million or more. Specific terms are reviewed during the intro conversation.
Investment advisers are bound by SEC marketing rules about how, when, and to whom we can present return objectives and historical performance. Core Plus is an active strategy with characteristics that need to be discussed in context, with the right risk disclosures, against your actual situation as an investor. We've found that a 20-minute conversation with someone from our team gives qualified investors a much clearer picture than a static document would.
In the call, we walk through the strategy's targeted return range, the historical performance of both the underlying Core and Aggressive books, the fee mechanics in detail, the risk framework, and the redemption mechanics. You ask questions. We answer them. If the strategy fits, we move forward. If it doesn't, you've spent 20 minutes and we've spent 20 minutes, and nothing is wasted.
No sales pressure. No automated drip emails. The call is the only step before the offering materials.
Request an intro conversation with our team. We'll walk through the strategy's specifics, the historical performance, the risks, and the fit for your situation. The call is the gate. Everything substantive is on the other side of it.
A member of our team will reach out within one business day to schedule an intro call.