NODE ran at 50.1% annualized volatility with a 13.2% peak-to-trough drawdown, and only 8 of 21 trading days were positive.

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NODE returned +24.8% in April, with NAV per share rising from $32.37 to $40.40 and AUM reaching approximately $63.8 million. NODE outperformed Bitcoin by roughly 2.05x, with Bitcoin up +12.1% over the ...