Fumbi Product Performance During the First Half of 2024

Transparency and openness have always been one of the fundamental pillars of our society. That is why we provide our clients with a comprehensive overview of the performance of Fumbi products every 6 months, in addition to regular market news and current trends. Whether you are an experienced investor or a newcomer to cryptocurrencies, this overview will provide you with valuable information for your future investment decisions.

The first half of 2024 on the crypto market was mainly influenced by the approval of Bitcoin spot ETFs in the United States, which brought new capital in the form of institutional money to the market, as well as a new dose of optimism. After a relatively successful 2023, Bitcoin and the cryptocurrency market thus continued its upward trend in the first half of the year, with Bitcoin reaching a new all-time high of $73,750.07 in March. And how did Fumbi’s products fare in the first half of the year?

Fumbi Index Portfolio

The Fumbi Index Portfolio continues to be the most popular and preferred product among our clients. Currently comprising up to 24 cryptocurrencies, the portfolio is rebalanced daily and reviewed on a quarterly basis by Fumbi’s Investment Committee. Bitcoin and Ethereum cryptocurrencies have the largest representation in the Fumbi Index Portfolio, which together currently makeup almost 90% of the entire portfolio.

During the first half of this calendar year, the Fumbi Index Portfolio grew 43.4% overall. The portfolio growth was mainly influenced by the January approval of Bitcoin spot ETFs in the US, which brought a new dose of optimism and fresh capital to the market. The Fumbi Index Portfolio reached its maximum possible appreciation in the first half of 2024 on March 11, when Bitcoin surpassed its all-time high.

Fumbi Custom

During the last six months, we have added up to 6 new assets to the product Fumbi Custom, where you can invest in with just a few clicks. Gradually, we have expanded the product to include Solana (SOL), Chainlink (LINK), Cosmos (ATOM), Polygon (MATIC), The Graph (GRT) and Binance Coin (BNB) cryptocurrencies. As a result, you can currently invest in up to 11 individual assets in this product.

Among the assets in the Fumbi Custom, Binance Coin (BNB) was the best-performing cryptocurrency during the past six months, rising by over 85% in the first half of the year. Cryptocurrencies Ethereum (ETH) and Bitcoin (BTC) also performed well, rising by 51.76% and 48.95% respectively. The cryptocurrency Polygon ( MATIC) declined by 40.81% during the period.

Bitcoin and Gold

Our specific and very popular Bitcoin and Gold product, which combines the technological innovation of Bitcoin and the stability of real gold, allows investors to gain exposure to the cryptocurrency market in a more conservative form. This product is increasingly popular among investors, and in the first half of the year, it has delivered positive results that have pleased investors. 

Between January and June of this calendar year, the value of investments in this product grew by a very interesting 37.29%. The performance of this product is also supported by its active rebalancing, which is handled by our Fumbi Algorithm. Thanks to it, every day an asset that has risen is sold and an asset that has risen less or fallen is bought, so that the index is always in a 50:50 balance.

The performance of this product was mainly influenced by the massive growth of Bitcoin, but gold itself, represented by the Pax Gold token, did not lag behind, rising by 13.7% in the first half of the year.

Staking Portfolio

Through the Staking Portfolio, our clients can invest in up to 10 altcoins at a time, based on a consensus algorithm called Proof-of-Stake. This allows them to receive staking rewards on a weekly basis and increases the number of cryptocurrencies in their portfolio. However, the values of these altcoins declined during the first half of the year, which was reflected in the performance of the Staking Portfolio (performance does not take into account acquired staking rewards).

Even though Staking Portfolio was still up nearly 35 percent in March, the second quarter of this year has been particularly challenging for altcoins. Many altcoins declined in currency pairs against Bitcoin, and this decline was compounded by the decline of Bitcoin itself during the second quarter. However, altcoins have historically tended to rise only in the 12-18 months after halving, but of course, it should be added that historical events are no guarantee of future returns.

Given the disappointing performance of this product, Fumbi’s analyst team is currently working on adjusting the product, with a high probability that assets that have lost traction and whose network activity has declined significantly will be removed from the staking portfolio in the coming months, which is ultimately reflected in their price.

Advanced Portfolios

Early last year, we launched our Advanced Portfolios product, which allows our clients to create and actively modify their own crypto portfolios. There are currently over 80 cryptocurrencies to choose from in this product, with new and attractive cryptoassets being added to the product every three months during quarterly updates.

Of all the assets available in the Advanced Portfolios product, the dogwifhat (WIF) meme cryptocurrency has performed the best in the first half of 2024, rising an astronomical 1,336% year-to-date through June 30, 2024. However, a number of assets fared well, rising by hundreds of percent. You can see an overview of the top 10 best-performing assets in this product for the first half of the year in the chart below.

Invest with Fumbi today

Take advantage of the potential of cryptocurrencies simply, securely and efficiently. Start investing with Fumbi with amounts starting from €50. You can choose from a wide range of products, whether you are a beginner or an advanced investor.