DarkForest

Founded in 2021 as a proprietary trading firm, then expanding into altcoin market making. In January 2025, the firm launched its fully systematic Bitcoin Alpha Strategy, leveraging the infrastructure, expertise, and execution capabilities developed over years of live trading. The firm's foundational belief is simple: Bitcoin is a scarce asset in high demand, making it likely that it will be worth more tomorrow than it is today. As such, the strategy is focused on growing the portfolio's Bitcoin holdings over time, rather than optimizing for USD-denominated returns. This Bitcoin-denominated mindset shapes both the investment process and the firm’s long-term vision. We have a data-driven edge - we rigorously curate high-quality Bitcoin market data across major pairs and venues, and feed it into our proprietary analytics framework. By turning real-time insights into disciplined, risk-optimized signals, we consistently generate alpha where others see noise.