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Brazilian funds that invest in cryptocurrencies have a profitability of up to 85% in 2020


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Most investment funds linked to cryptocurrencies that are regulated by the CVM (Brazilian Securities and Exchange Commission) had a positive performance in May and improved the value already accumulated this year.

In several cases, the profitability shown is higher than that obtained by the dollar and the Ibovespa in 2020 – there are funds with yields above 80%, while the stock exchange accumulated a drop of 19.58% and the dollar appreciated 28.57%.

There are four managers in Brazil with funds composed to some extent by digital currencies such as Bitcoin, all with CVM authorization: Hashdex, BLP, Vitreo and QR Capital. In all, the eleven funds held by these managers manage an amount of R $ 201.6 million, according to the Mais Retorno platform.

The share of crypto assets in each fund ranges from 20% in the most conservative portfolios to up to 100% in those with the most daring profile. The latter are restricted to the so-called “professional investors” (individual or legal entity that has more than ten million reais in investments).

Performance champions

Among the crypto funds, the BLP CryptoAssets FIM, which achieved the best yield in the year, with a return of 84.57% – despite the drop of 2.41% in the month. The fund has a bold characteristic, investing up to 98% of its resources in the Genesis Block Fund abroad and the rest in federal public securities.

BLP also has another fund called BLP CriptoAtivos FIM, where it invests up to 20% in digital assets and the rest in LFTs. The accumulated profitability of this fund in 2020 is 16%, below the other product offered by the company but still with a better performance than the Ibovespa.

The result of the champion of profitability in the Brazilian market was closely followed by Hashdex Criptoativos Voyager, from Hashdex, a portfolio composed entirely of digital assets – where bitcoin accounts for 74% of its total and the rest divided between some cryptocurrencies. The accumulated result for the year is 74.48%.

Hashdex has three types of cryptocurrency funds: Discorvery (20%), Explorer (40%) and Voyager (up to 100%). It is possible to invest in each of them through brokers such as XP, BTG Pactual and Órama. The manager also has its own index, the HDAI (Hashdex Digital Assets Index), formed by a basket of cryptocurrencies with relevant market share.

Both the BLP and Hashdex funds, which invest up to 100% in crypto, are focused on professional investors and, therefore, have a smaller number of shareholders (40 and 58 respectively) compared to the funds offered by companies focused on the public. general, with diversification in fixed income, which surpass the 1,500 quota holders.

Comparison of profitability of Brazilian funds with participation in cryptocurrencies (Source: Mais Retorno)

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