Within the framework of the growing appetite that has awakened in Spain for cryptocurrency investment funds, Renta4, a financial entity specializing in investment products and services, has recently filed a new registration with the National Securities Market Commission (CNMV). hedge fund,
This is a new Spanish fund Provides exposure to Bitcoin (BTC)Ether (ETH of Ethereum) and Solana, Polkadot and Cardano cryptocurrencies.
The goal is to offer 90% of the fund exposure to cryptocurrencies through financial instruments including exchange-traded funds (ETPs). The minimum investment will be 30,000 euros and investors are warned not to expect a return on their money within a period of less than 5 years.
Thus, Renta 4 Crypto F.I.L. They say List of other funds already operating in the Spanish market They have already attracted the attention of investors, Generating higher returns.
The funds include Gestion Boutique VI Opportunity, managed by EndBank Wealth Management, which has been operating since 2019; Proteus Capital Fund SLP, created in 2021; And the FIL cryptocurrency of the company A&G, which has been in the works since 2023. These last two are already among the most prominent Due to the level of popularity achieved in recent months.
According to analysts, the interest is mainly driven by the surge in the cryptocurrency market in recent months Not affected by recent BTC price correction,
“We are at the beginning of a bull market that will last for several months, and so there is an opportunity to continue accumulating this new type of assets in recovery portfolios,” commented Roman Gonzalez, manager of FIL Cryptocurrency.
The popularity of funds investing in Bitcoin and other cryptocurrencies has also gained momentum. generated by spot bitcoin etfApproved last January with the next stop in the United States.
“It’s like throwing a handful of wheat into the field.” At first only the bravest chickens come to peck, but once they see that nothing is happening, more chickens come for their piece of the pie. We’ll see what happens when some powerful pension fund decides to hold 0.50% of its portfolio in Bitcoin,” Gonzalez predicted. Further development of this market,
Fund performance will rise with Bitcoin price in 2024
The Gestion Boutique VI Opportunity Fund returned more than 111% in 2023, its most profitable year last year, as data from investment research firm Morningstar indicates. This shows for 2024 positive balance Which is more than 17%.
its legacy hedge fund It has an estimated EUR 6.64 million under management. It is known for investing in companies involved in the cryptocurrency ecosystem, such as MicroStrategy (Michael Saylor’s company) and Galaxy Digital Holdings.
On the other hand, the FIL cryptocurrency already exists Takes leading positions in the ranking of the most profitable funds Performance of 45.94% so far this year. Its assets under management have reached 7.79 million euros with an annual return of 51% since it began operations in October last year.
Like most funds, FIL cryptocurrency There is a significant concentration in Bitcoin, which represents 62.50% of the portfolio, followed by ETH with 25%. The rest is distributed among other cryptocurrencies including Polkadot, Polygon, Uniswap, Cosmos, and Arbitrue.
Exposure to cryptocurrencies ranges from 50 to 100% and is also offered through exchange-traded products. A minimum investment of 10,000 euros is required.
As CriptoNoticias reported, not only hedge funds Investors in Spain are paying attention to cryptocurrencies, as more and more funds have flowed there since last year has expressed its intention to offer investments in Bitcoin,
