Shift in Strategy Prompts Joe McCann to Close Asymmetric Liquid Fund

Joe McCann Winds Down Asymmetric Liquid Alpha Fund, Shifts Focus to Long-Term Blockchain Investments

Joe McCann is shutting down Asymmetric’s Liquid Alpha Fund after a challenging year marked by heavy losses and waning investor confidence.

In a post shared on social media, McCann acknowledged the fund’s strategy was no longer effective in the current market environment. “The Liquid Alpha Fund was built for volatility,” he said. “While it delivered at one time, it’s now clear the model no longer serves our LPs.” As a result, Asymmetric will transition away from liquid trading and focus more on long-term investments in blockchain infrastructure.

The move follows widespread reports — though unconfirmed — that the fund has declined nearly 78% year-to-date. The crypto market’s declining volatility may have played a role, with the Crypto Volatility Index (CVI) dropping nearly 30% in the past year, signaling a shift to a more mature, less reactive market.

Investor Options and Strategic Realignment

Investors have been offered the choice to exit the fund without the usual lock-up conditions or reinvest into a newly structured, illiquid vehicle focused on long-term opportunities.

McCann emphasized that Asymmetric’s broader operations remain intact. While the liquid fund faced setbacks, the firm’s venture capital strategy continues to support early-stage blockchain startups. “Our job is to adapt with discipline and build what’s next,” he said.

A former technologist and trader, McCann described the fund’s decline as a test of resilience, adding, “This is a humbling business. The only way forward is through.”