Performance of Fumbi Products in the First Half of 2025

The first half of 2025 is behind us, and with it comes our regular semi-annual overview of the performance of Fumbi products. At Fumbi, we have long emphasized transparency and openness toward our clients, as transparency has always been one of the core pillars of our company. Whether you actively follow the cryptocurrency market or are more of a passive investor, this overview will provide you with all the essential information for your future investment decisions.

The first half of 2025 was extremely challenging for the cryptocurrency market. The ongoing conflict in Ukraine, aggressive trade policies from the United States, and the conflict between Iran and Israel all contributed to uncertainty and turbulence in the crypto markets, which was reflected in the performance of individual assets—especially altcoins. Geopolitical tensions increased the aversion to risk assets, among which cryptocurrencies have long been classified. During periods of heightened uncertainty, investors shifted to more conservative asset classes such as government bonds or gold. These movements were mirrored in the significant volatility and price drops of altcoins, particularly those with lower market capitalization and liquidity. However, Bitcoin showed strong resilience during this period and reaffirmed its status as digital gold, to which investors turn in times of crisis.

In addition to geopolitics, macroeconomic factors also played a key role—such as persistent inflation and changes in the monetary policy of major central banks. The U.S. Federal Reserve (Fed) signaled a willingness to begin lowering interest rates, but this step was repeatedly postponed due to a strong labor market and higher-than-expected inflation data. Market expectations were therefore repeatedly confronted with reality, which led to investor frustration and selling pressure, particularly on altcoins.

Bitcoin, as the dominant asset in the market, also experienced high volatility, but compared to altcoins, it appeared more stable. Some altcoins dropped more than 50% from their values at the beginning of the year, while Bitcoin continued to strengthen against the dollar and reached new all-time highs.

Despite these challenges, there were also positive developments in the sector. Several blockchains continued to develop their technologies, reduce transaction costs, and improve user experience. The DeFi sector, though affected by reduced liquidity, began testing new models of liquidity management and risk hedging. The first real use cases of tokenized assets in the financial sector also emerged, providing hope for long-term growth and adoption of cryptocurrencies.

In conclusion, while the first half of 2025 was demanding, it also revealed which projects possess real resilience and strong fundamentals. The year is far from over, and factors such as easing geopolitical tensions, trade agreements between the U.S. and other countries, or the planned interest rate cuts in the U.S. may serve as strong catalysts for further growth—not only for Bitcoin but also for altcoins.

Note:

The performance data of products and crypto assets presented in this blog refers to the period from January 1, 2025 to June 30, 2025. All performance figures are expressed in EUR.

Fumbi Index Portfolio

Our flagship product, the Fumbi Index Portfolio, remains the most popular product among our clients. It currently consists of 25 cryptocurrencies that together cover more than 81% of the total cryptocurrency market capitalization, including stablecoins. If stablecoins are excluded, the Fumbi Index Portfolio covers more than 87% of the total cryptocurrency market capitalization.

The Fumbi Index Portfolio is also rebalanced daily, meaning that the weights of individual assets in the portfolio are adjusted according to movements in the cryptocurrency market. The largest allocations in this portfolio are held by Bitcoin (BTC) and Ethereum (ETH), which together make up more than 90% of the entire portfolio.

Corrections are a natural part of financial markets. No asset, including cryptocurrencies, can grow continuously “to the moon,” and from time to time, corrections appear in the crypto market. The Fumbi Index Portfolio experienced a stellar year in 2024, growing by more than 102%, following a similar increase in 2023 when it grew by 122%. Therefore, it is not surprising that in 2025 we are seeing a slight slowdown in growth, which is a natural consequence of the significant gains in previous years. Despite current market fluctuations, the Fumbi Index Portfolio continues to represent an ideal tool for long-term and diversified investing in cryptocurrencies.

During the first half of this calendar year, the Fumbi Index Portfolio declined by 9.52%. This decline was mainly influenced by the tense geopolitical situation, which had a negative impact on risk assets. The calculations exclude fees.

Source: Fumbi Research

Bitcoin and Gold

The Bitcoin and Gold product combines the advantages of digital assets with the proven value of traditional investments. By merging Bitcoin as the leader in the cryptocurrency space with physically backed tokenized gold as a symbol of stability, this product appeals especially to more cautious investors who want to benefit from market developments while maintaining lower risk exposure.

During the first half of 2025, this product recorded a return of +5.31%. This performance was achieved thanks in part to a smart algorithm that rebalances the portfolio daily by selling the asset that increased in value and using the proceeds to buy the asset that declined or grew less—thus maintaining a 50/50 balance between Bitcoin and gold. This intelligent portfolio balancing helps minimize fluctuations and, in the long term, increases the investment’s resilience to market volatility.

Source: Fumbi Research

Fumbi Custom

At the beginning of this year, the Fumbi Custom product underwent an important change that, according to client feedback, was well received by most users. This change involved fully opening up the product’s availability—in practice, this means that instead of around 20 cryptocurrencies previously available for individual investment, the product expanded to include more than 110 available cryptocurrencies. As a result, you can now invest individually in any of the cryptocurrencies available on Fumbi, without needing to interact with the Advanced Portfolios product.

In the first half of the year, we also introduced three new investment management features: Take Profit, Stop Loss, and Buy Limit Order. With these features, you can effectively manage your investments in the Fumbi Custom product without the need to constantly monitor the market.

Among the top 10 cryptocurrencies by market capitalization, the highest performance in the first half of the year was achieved by the king of cryptocurrencies itself—Bitcoin.

Source: Fumbi Research

As mentioned above, the first half of this calendar year was particularly difficult for altcoins. While Bitcoin and a few major players maintained relative stability, the altcoin market as a whole experienced a significant decline—driven by falling liquidity, profit-taking, and capital outflows from riskier projects. Many smaller cryptocurrencies suffered a noticeable drop in investor confidence, whether due to weak tokenomics, technical issues, or overhyped expectations that ultimately failed to deliver.

For some specific cryptocurrencies, the first quarter of 2025 was especially brutal. Their value plummeted by more than 70%, often due to a combination of factors—from sudden sell-offs and negative market sentiment to speculation about the illiquidity of certain coins. In the next section, we present an overview of the top 5 assets with the steepest declines during the first half of the year, along with insights into what caused these drops.

Source: Fumbi Research

🔻 OM (Mantra): –95.18%
Mantra experienced an extreme sell-off after its price plunged from approximately $6 to $0.50 in a single weekend. This sharp drop was triggered by a series of liquidations of loans backed by OM tokens. A large portion of the tokens was concentrated in the hands of a few holders, allowing for rapid dumping. Poor market liquidity only worsened the situation—massive token transfers between exchanges and differing loan parameters caused a cascade of automatic sell orders.

🔻 ai16z: –91.4%
This AI-based token saw a rapid rise followed by an equally steep decline. After gaining over 500%, many investors took profits, and technical indicators began signaling a weakening trend. Additionally, the broader AI token sector entered a correction phase following earlier hype, dragging ai16z down with it.

🔻 DYM (Dymension): –85.07%
DYM suffered from waning interest in new layer-1 blockchains. Investors became more cautious toward riskier projects lacking clear user growth or adoption. The total value locked (TVL) on Dymension dropped sharply, shaking market confidence and prompting further sell-offs.

🔻 MOVE (Movement): –82.71%
MOVE was hit by issues related to the Movement Labs platform, which utilizes the Move VM (originally developed for Meta’s Diem project). Although the project initially attracted attention for its novel scaling and interoperability approach within the Ethereum ecosystem, the token launch followed a typical “sell-the-news” pattern. Early investors who held tokens from pre-sales quickly took profits, while a lack of demand from new users led to a rapid price collapse during the first weeks of trading.

🔻 BEAM (BEAM): –79.98%
BEAM faced a prolonged decline, primarily due to weak development momentum and poor communication from the team. While the project remains technically active, it failed to convince the market of its long-term vision. Combined with a broader altcoin sell-off, BEAM came under sustained downward pressure.

Advanced Portfolios

The Advanced Portfolios product allows our clients to create and customize their own crypto portfolios. They can choose from over 110 cryptocurrencies and assign custom weightings to each asset based on the desired allocation in their portfolio.

In addition, clients can select from thematic investment templates focused on specific development areas in the crypto world. Whether you’re interested in DeFi, Gaming, or Artificial Intelligence (AI), these and various other thematic investment templates are available in our Advanced Portfolios product.

Among all the available assets in the Advanced Portfolios product, the best-performing one in the first half of 2025 was the cryptocurrency Maker (MKR), which increased by over 14% between the beginning of the year and June 30, 2025. Several other assets also performed well, even though the first half of the year was very challenging for altcoins. You can see the TOP 5 best-performing assets in this product for the first half of the year in the chart below.

Source: Fumbi Research

Staking Portfolio

The Staking Portfolio has gone through a truly challenging period over the past six months. Composed of altcoins built on the Proof-of-Stake consensus algorithm, this portfolio struggled to maintain its market position amidst the rising dominance of Bitcoin and the decline of individual altcoins. As a result, the portfolio has dropped by 52.7% since the beginning of the year, with some of its components — such as POL, XTZ, and MINA — falling by more than 70%.

However, a key advantage of this portfolio remains the regular staking rewards. Even though the value of individual cryptocurrencies may be declining, our users continue to earn rewards directly in those cryptocurrencies. This means that while the total fiat value of their holdings might decrease, the number of tokens they hold increases. If the market experiences another “altcoin season” like in 2017 or 2021, this portfolio could still deliver a pleasant surprise.

Source: Fumbi Research

During the first half of the year, Fumbi also undertook a restructuring of this portfolio. This restructuring involved delisting the cryptocurrencies Secret Network (SCRT) and Kava (KAVA), which had been experiencing prolonged significant declines along with decreasing liquidity and network activity. As a result, Fumbi’s Investment Committee decided to remove these cryptocurrencies from the portfolio and replace them with much more liquid cryptocurrencies with significantly higher market capitalizations — specifically, Solana (SOL) and Injective (INJ). Both of these coins rank within the top 50 by market cap and are also available for staking.

Take the Opportunity and Start Investing in Cryptocurrencies Today

Markets are gaining momentum again, and everything suggests that the second half of the year will be very dynamic and full of exciting developments. With Fumbi, you can invest easily, securely, and from as little as €50. Whether you’re a beginner or an experienced investor, you’ll find products that match your goals and risk preferences.

Start today – the future belongs to those who act in time.