Published on January 22, 2026
Watch the video of this panel on Gamma Prime’s YouTube channel:
Keynote speech by Evan Czu (Co-Founder and CEO at Gamma Prime)
Welcome to the Gamma Prime Tokenized Capital Summit. I am Evan Hsu. I am one of the co-founders here at Gamma Prime, and welcome to our event. We’re your hosts.
Now, we’re one of the biggest events in Abu Dhabi. I think we’ve had 2,500 people come through. But something you probably don’t know is that we’ve been live streaming this, and we’ve had 11,000 people log in to the live streams. That means the attendance here has been around 13,000 people, which is about the size of ETH Denver. So thank you guys for making this a monstrous success.
Now there’s a question that a lot of people are asking: “Hey, this is a nice event. Who are you guys? What does Gamma Prime even do?” Well, I’m going to give you a brief overview now—and this is going to be a short one.
Oh, where’s my clicker? Oh, here we go. Normally, I walk into the audience and harass you guys, but because we have 10,000 people listening on the live stream—probably only about 2,000 at any given time—I’m going to stay on stage for those of you listening live. You know who you are.
I’m going to skip past this to save a little bit of time. This is sort of an analogy. Okay, here we go.
Here’s what I’m going to offer you: give me three minutes of your time, and I will show you how to invest 3x better. And I mean 3x literally—not like, “oh, it’s somewhat better.” Quantitatively, I will show you how to do it. And by the way, you can do it yourself. You don’t need to buy anything from us for this.
This is purely—well, I’ll show you.
Okay, I’m going to start my little timer here.
Number one, when I say 3x better, I do not mean 3x more return. Because if you want 3x the return, I can tell you how to do that right now. You want 3x Bitcoin’s return? Or the S&P? Just lever up on futures or perpetuals. Done. You don’t even need the whole three minutes.
So now, if those assets go up 10%, your account goes up 30%. But when that asset goes down 20%, your account goes down 60%. So it’s not about return. It’s always returns versus risk. And risk is actually the part that’s easiest to fix.
So let me show you how it’s done.
This is one of the actual assets on our platform. This is a hedge fund—that’s what we do. The return here on the left is a 20% annualized return. But it’s really noisy, right? You can wake up one month later and your account is down like 9%, right? So yeah, it’s got good returns, but it comes with a vomit bag.
Now something magical happens when you blend this fund with two other funds. It starts to smooth out. Then you add another three funds, and it gets even smoother. Then you add another four funds, and suddenly it looks amazing.
That’s like never having to wake up the next month in horror. And yet the return is still 20%, because the 10 assets you put into it averaged 20%. So the alpha averages and the beta cancels.
How much better is this? You can measure smoothness—essentially how much vomit bag you need—by something known as a Sharpe ratio. You guys are probably familiar. The Sharpe ratio for that first fund is 0.81. That’s about the same Sharpe ratio as Bitcoin, the U.S. stock market, and whatnot.
The Sharpe ratio for that 10-fund blend is 3.73. If you are a Sharpe ratio junkie, you probably just fell out of your chair. That’s an amazing Sharpe ratio. And that is literally, quantitatively, 4.6 times better. So I said 3x, but I lied—I’m giving you 4.6x better. Ta-da.
How long did that take? Two minutes and 40 seconds. But there’s a catch. There’s always a catch.
The catch is that these 10 assets can’t just be any 10 assets. Imagine you take 10 healthcare stocks and dump them in a bucket. You’re not going to get smoothing. They need to be completely uncorrelated.
Now, some of you are thinking, “Oh, that’s diversification 101. I know what that is. That’s why my stock portfolio has Merck, 3M, and Apple.” That’s healthcare, materials, and consumer electronics. That’s diversified, right? Yeah, that works okay—until there’s a market crash.
Then all correlations go to one, because people don’t care that they’re in different verticals. They sell indiscriminately because their retirement account is evaporating. So it works until you actually need it. You essentially have a seatbelt that works until you get into a car crash, right?
None of this actually diversifies your portfolio. They all move together.
And I’ve got some news for you—you’re not going to like this. Bitcoin does not actually diversify, at least not this time around. We were hoping it would. I was hoping it would act like digital gold. It’s not. It’s acting like a risk asset.
When markets get volatile, Bitcoin seems to go down. So essentially, all of this is just the same position. Bitcoin can be one of your 10 assets. So what do you do about the other nine?
That’s this stuff: discounted OTC, staking, stat arb, reinsurance.
Let me give you an example. Reinsurance is a classic diversified asset—truly diversified—because there is risk, but the risk is too many hurricanes in Florida. That has nothing to do with the stock market, right?
If you blend 10 of these assets together, you actually get that smoothing effect. Okay, easy enough.
But there’s one more catch. How many of you know where to find, let’s say, three of these? Does anyone even know where to find three of them? Okay, we got one person. Does anyone know where to find seven of them? This is seven in Chinese.
Do you know where to find 10 of them—and five of each? Probably not.
We’ve had many family office panels come up here, and they’ve all said the same thing: finding these is a pain in the butt. You have to vet them, you have to know them, you have to access them—and this stuff is hard to find.
