BTC hodlers outperformed crypto funds by 69% in H1: 21e6 Capital

The classic buy and hold, or HODL approach to Bitcoin (

Despite this, current prices mark a 75% price gain for the asset since Jan. 1, as per CoinGecko data.

“All crypto fund strategies achieved positive results this year. But relative to Bitcoin, they underperformed, especially those with significant exposure to altcoins, to futures, or those strongly dependent on momentum signals.”

“Going forward, we are keeping a close eye on which exchanges will establish themselves as leading futures providers. Furthermore, the level of the funding rates in crypto futures markets and the ability of quantitative funds to capture trends will be areas of focus when we observe the markets,” the report adds.

Ultimately the report highlighted that investor sentiment has slightly improved over H1 2023, suggesting that some funds may soon start piling in more cash into the crypto sector.

However, it did note that current data relating to inflows and outflows indicate that a “full recovery of sentiment” has not yet taken place.