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Crypto industry doubles in size

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Although volatile, the crypto market has been attracting investors, from retail to institutional. In two years, the cryptocurrency fund industry has more than doubled in size, but the message to investors is caution. Those starting out should allocate a low percentage of the portfolio, depending on their risk appetite, and invest for at least three years.

André Franco, cryptocurrency analyst at Empiricus, recommends a portion of the portfolios between 1% and 2%. According to him, the understanding curve of these products tends to be faster, but any new asset class poses many challenges.

"We prepared a study about the bitcoin price. Those who bought it and held it in their portfolio for three to five years had a 99.89 percent chance of profiting. The more the investor extends the term, the more chances she has to win," he says.

The first crypto fund launched in Brazil was created by BLP Asset in January 2018, with investment in Genesis Block Fund, a Cayman Islands-based master fund. Glauco Bronz Cavalcanti, CEO of BLP Asset, bets on active management. "Today we have 11 assets in the fund, including currencies, operating systems, DeFi [decentralized finance]. We select the best assets within this ecosystem," he says.

Hashdex announced the trading of shares of the first cryptocurrency ETF (Exchange Traded Fund) in Brazil as of April 22. The data of the first issuance of the Hashdex Nasdaq Cryto Index Fund was released by letter by the asset manager, which was founded in 2018 with a master, passively managed fund established in the Cayman Islands based on the first index created by the firm.

João Marco Braga da Cunha, a portfolio manager at Hashdex, says the manager launched three funds with shares of the master fund in 2019 to cater to several investor classes. At the end of 2020, Hashdex formed a partnership with Nasdaq to create a joint index.

"The Cayman fund began to...

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