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Blockforce Capital’s fund captures 86% of bitcoin’s upside in 2020

Image by Blockforce Capital

Thu, 12 Mar 2020, 15:34 pm UTC

Multi-strategy hedge fund Blockforce Capital, also a seasoned exchange-traded fund (ETF) issuer announced that its master fund saw a 16.8% compared to a 19.5% return in bitcoin, to its accredited investors, Coindesk reported.

In February 2019, the company proposed to offer an ETF made of a mix of currencies including bitcoin but withdrew the fund the next day following the U.S. Securities and Exchange Commission’s (SEC) request. At present, it only offers bitcoin-related funds to its investors.

Blockforce’s claimed that it only has a third of bitcoin’s volatility at 24.5% while capturing 86% of the cryptocurrency’s upside and 12.5% of its downside. According to Blockforce CEO Eric Ervin, the goal of the fund is to capture over 80% of bitcoin’s return with 40% of its losses because it was supposed to “give people something they can invest in without all the stomach acid of a direct cryptocurrency investment.”

When the fund started it only made 32 percent after four months while bitcoin made over 180 percent. But from July to December it only dropped 16 percent while bitcoin fell over 50 % compared to Blockforce’s funds at 33%.

“One thing to keep in mind when evaluating performance throughout 2019 was the erratic nature of returns,” Ervin said.

“In November, after a portfolio management team change, we significantly reduced the complexity of the models, we slowed down some of the signals and focused our research efforts on optimizing for trade frictions as well as identifying high-probability trends to confirm either up, down or sideways markets. These model updates went live in December and we have been very pleased with the results since that time.”

Forty percent of the fund is based on systematic strategies which is also based on long-term and short-term trends in a mix of large-cap cryptocurrencies including bitcoin, bitcoin cash (BCH), litecoin (LTC), ether (ETH), XRP and Binance coin (BNB). Blockforce will continue to add updates to its “research in pain pattern recognition, predictive signals for correlation breakdowns and some other areas.”

Meanwhile, SEC has disapproved of Wilkshire Phoenix’s ETF application. However, Chris Hempstead, the director of institutional business development at ETF and hedge fund provider IndexIQ suggested that the agency might reconsider it when bitcoin ETC comes as retail demand.

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