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VLONE Outpaces Bitcoin: Why Diversification Matters in Digital Assets

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In the world of digital assets, Bitcoin has long reigned supreme as the asset of choice for investors seeking exposure to the sector. Yet, recent performance metrics suggest that a broader approach, capturing the potential of multiple leading blockchains, may deliver superior results. Enter the Venionaire Layer-1 Select Index (VLONE), which has quietly outperformed Bitcoin over the past year while offering investors a diversified gateway into the most promising layer-1 ecosystems.


Performance Tells the Story

Over the twelve months to mid-September 2025, VLONE recorded an annualised return of more than 64%, compared to Bitcoin’s roughly 24% in the same period. This is not a marginal difference, it is a decisive outperformance that highlights the value of diversification within the blockchain economy.
Year-to-date, returns are more closely aligned—VLONE at 21.5% versus Bitcoin at 23.9%. But the trailing 12-month view underscores the real point: investors who limited themselves to Bitcoin left significant gains on the table.


The Price of Broader Exposure

Critics will point out that VLONE comes with higher volatility – 61% versus Bitcoin’s ~54%. This is true. But in financial markets, higher volatility is not inherently negative when it is accompanied by higher return. On a risk-adjusted basis, VLONE has rewarded investors with more return per unit of risk than Bitcoin over the past year.
The index achieves this by distributing exposure across a carefully selected basket of layer-1 blockchains, including Ethereum, Solana and other networks alongside Bitcoin itself. Each asset contributes differently across market cycles, smoothing out idiosyncratic risks while capturing growth beyond Bitcoin’s dominance.


Beyond Bitcoin: Capturing the Next Wave

Bitcoin remains the industry’s bellwether. Its liquidity, institutional adoption and market depth are unmatched. But innovation in blockchain does not stop with Bitcoin. Ethereum’s smart-contract ecosystem, Solana’s scaling breakthroughs, and other layer-1 projects are driving capital flows, developer activity and user adoption that increasingly define the future of the sector.
By allocating only around 15% to Bitcoin and distributing the balance across leading peers, VLONE ensures investors are not over-exposed to a single asset, no matter how dominant. This is not just diversification for its own sake, it is strategic positioning for the next wave of blockchain growth.


The Case for VLONE

For asset managers, wealth advisers and institutional investors, VLONE represents more than just another crypto product. It is:
  • A benchmark: the first BMR-regulated crypto index of its kind, listed on Bloomberg and Refinitiv, ensuring transparency and compliance.
  • A research-driven methodology: selection based on liquidity, adoption, and technological fundamentals, not hype.
  • A cost-efficient tool: enabling banks, brokers, and advisers to structure investment products that track a broad market benchmark rather than relying on single-asset exposure.
Bitcoin will always have its place in portfolios, it is the original, the most liquid, and the best understood. But in 2025, investors looking for real growth cannot ignore the performance of VLONE. By combining Bitcoin’s stability with the dynamism of other leading blockchains, VLONE has proven itself a smarter way to capture the upside of digital assets.
For investors, the message is clear: don’t just hold Bitcoin. Hold the future of blockchain. Invest in VLONE tracking products.


 

Learn more about VIDA and the VLONE Index:

Why Benchmarks Matter More Than Ever in Digital Assets

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In traditional finance, benchmarks are the invisible backbone of global markets. From pension funds to ETFs, from structured products to private portfolios, benchmarks provide orientation, comparability, and trust. Indices like the S&P 500, the MSCI World, or the STOXX Europe 600 have become household names precisely because they serve as reliable yardsticks against which performance is measured.
Now, for the first time, Venionaire Capital is bringing this same benchmark logic into the world of digital assets. With the launch of the Venionaire Index for Digital Assets (VIDA), we introduce a family of indices that combine institutional quality, transparent methodology, and regulatory compliance (BMR) with the unique dynamics of blockchain-based markets.


Benchmarks: The Compass of Global Markets

Benchmarks have always played three essential roles in financial markets:
  1. Measuring Performance
    Without benchmarks, investors cannot objectively evaluate whether their money is working effectively. Did your fund manager truly deliver alpha, or did the market itself rise? A benchmark answers this question.
  2. Structuring Products
    The rise of ETFs and index-linked products is a testament to the power of benchmarks. Trillions of dollars are invested in funds tied to simple, transparent indices. These products are cost-efficient, scalable, and accessible.
  3. Building Trust
    Markets need standards. When an index is regulated, rules-based, and independently calculated, it creates the foundation for investor confidence. Benchmarks are not just financial tools, they are a source of stability.


The Success Story of Index Investing

The last two decades have witnessed a dramatic shift from active management to passive investing.
  • In 2000, active funds dominated, with index funds and ETFs representing only a fraction of global assets.
  • By 2020, passive funds had overtaken active funds in U.S. equities, managing more than half of the market’s assets.
  • Today, ETFs and index products are the fastest-growing segment in asset management globally.
Why? Because investors realized that most active funds fail to beat their benchmarks after fees. Index investing gave them a simpler, cheaper, and often more profitable alternative.


The Missing Benchmark in Digital Assets

While equities and bonds have long enjoyed the clarity of benchmarks, the digital asset space has been missing such a foundation. For years, crypto markets were dominated by speculative behavior, hype cycles, and opaque products.
The result? Investors had little ability to compare performance, assess risk, or gain diversified exposure in a transparent way.
This gap is what Venionaire set out to solve. The VIDA index family provides:
  • Research-driven methodologies that consider not only size but also quality factors.
  • Diversified exposure to the most promising Layer-1 blockchains.
  • BMR compliance for regulatory trust and institutional adoption.
  • Independent calculation through our partner Compass Financial Technologies.
With VIDA, digital assets now have their equivalent of the S&P 500 — a standard benchmark that can guide investment decisions and structure new products.


The First Step: VLONE – Venionaire Layer One Index

The first index in the VIDA family is VLONE, focusing on Layer-1 blockchains — the backbone of the blockchain economy.
VLONE is calculated and weighted based on:
  • Liquidity – ensuring investability and market depth.
  • Market Capitalization – reflecting economic relevance.
  • Technology Innovation – assessing long-term competitiveness.
  • Network Performance – capturing adoption and usage.
  • Governance Quality – ensuring sustainable growth and resilience.
This methodology ensures that the index is not simply a list of the largest tokens but a quality-driven selection of the most promising blockchains.


Why Benchmarks Matter for Institutions

For institutional investors, benchmarks are not optional, they are a prerequisite. Banks and wealth managers depend on them to evaluate fund performance and to design products that clients can easily understand. Advisors and brokers turn to indices as a basis for recommending diversified exposure rather than speculative bets. Exchanges and structured product providers, meanwhile, require benchmarks as both a legal and practical foundation for launching compliant investment vehicles.
By introducing VIDA, Venionaire opens the door for banks, advisors, and brokers to license and build products that bring digital assets into the mainstream of institutional finance.


From Chaos to Structure: The Maturity of Crypto Markets

The launch of VIDA is not happening in a vacuum. It is part of a broader trend: the institutionalization of crypto markets.
  • Regulation is catching up, with frameworks like MiCA in Europe setting standards for custody, issuance, and disclosure.
  • Infrastructure is maturing, with regulated custodians, exchanges, and trading venues.
  • Investor demand is shifting from speculative trading toward long-term, diversified exposure.
Benchmarks like VIDA accelerate this process by creating a common language and structure. Just as the S&P 500 helped transform equities into a mass market for investors, VIDA can help transform digital assets into a trusted, benchmark-driven asset class.


The Benchmark Revolution Comes to Digital Assets

The story of modern finance cannot be told without benchmarks. They measure, structure, and build trust — enabling trillions in capital flows.
Now, with VIDA, Venionaire Capital brings this benchmark logic into digital assets. The result is a family of indices that give institutions, advisors, and investors the clarity they have been waiting for.
The VLONE Index is just the beginning. Over time, more benchmarks will follow, each providing the building blocks for a professional, scalable, and efficient digital asset industry.


 

Learn more about VIDA and the VLONE Index:

Timing Altcoin Cycles in Crypto Investing

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Understanding the cycles between Bitcoin and altcoins is critical for positioning in the volatile digital asset market. As a fund that invests primarily in altcoins, Venionaire Web3 pays close attention to these cycle dynamics.

One tool that we monitor is the Altcoin Season Index, a signal that provides insight into when capital may be rotating away from Bitcoin into broader crypto markets.

Market Cycles: Bitcoin vs. Altcoins 

Crypto markets move in cycles – and nowhere is this more evident than in the rotations between Bitcoin and altcoins: 

  1. Bitcoin leads the rally, attracting institutional and retail flows, and increasing its market dominance. 
  2. Profit rotation begins, as investors seek higher beta in alternative assets. 
  3. Altcoin season emerges, characterized by broad-based outperformance among altcoins. 

Being able to identify and respond to this pattern is essential to generate superior returns – and to avoid drawdowns when the market tilts back toward Bitcoin dominance. 

The Altcoin Season Index Explained 

One key indicator we monitor is the CMC Altcoin Season Index, which measures the percentage of top coins outperforming Bitcoin over a rolling 90-day period. It is designed to determine whether the market is favoring altcoins or Bitcoin. The index (blue line, 0-100 scale) gauges whether Bitcoin or altcoins are leading the market at a given time: 

  • If 75% or more of the top 100 coins outperform Bitcoin, it is considered Altcoin Season. 
  • If 25% or fewer outperform Bitcoin, it is considered Bitcoin Season. 

Currently, the index sits in the 30s, which points to a Bitcoin-favoring market environment – meaning that capital continues to concentrate in Bitcoin rather than rotating widely into the altcoin market. 

However, the index is not without limitations. It includes a wide range of tokens, including memecoins, which are often driven by speculation rather than substance. These can distort the signal. For this reason, we treat the index as a directional indicator, not a trading signal – and always cross-reference it with market fundamentals.

Characteristics of an Altcoin Season 

When a true altcoin season is underway, we typically observe three key market behaviors: 

  1. Altcoins Gain Market Share

Altcoins begin to absorb a larger share of total crypto market capitalization. For example, during the altcoin rally in May 2021, the combined market cap of the top 100 altcoins grew to around 130 percent of Bitcoin’s market cap – a significant shift in capital allocation. 

  1. Altcoins Outperform Bitcoin

During historical altcoin seasons, we have seen sharp outperformance. In the first half of 2021, the top 100 altcoins posted average returns of 174 percent, while Bitcoin’s price rose by just 2 percent in the same period. 

  1. Increased Volume and Speculative Activity

Altcoin seasons are typically accompanied by strong bullish sentiment and a surge in trading volumes. This momentum is often driven by narratives, community-driven interest, and in some cases, speculative enthusiasm. 

Why Timing Matters 

In a high-volatility asset class like crypto, timing is not just beneficial – it is essential. At Venionaire Web3, we use a combination of quantitative analysis, technical indicators, and macro insights to inform our positioning across different phases of the market cycle. 

When our analysis and indicators (like the Altcoin Season Index) point toward an approaching or underway altcoin season, without memecoin data distortion, we position the portfolio to capture those opportunities. Conversely, when the market is in a Bitcoin-centric phase or an off-season for alts, we prioritize risk management – focusing on fundamentals and maintaining disciplined exposure rather than chasing hype. This data-driven, cycle-aware approach helps us maximize returns while mitigating downside risk through the inevitable ebbs and flows of the crypto market.

A Data-Informed, Cycle-Aware Strategy 

Our investment philosophy is built on discipline, research, and timing. The Altcoin Season Index is one of several tools that help us evaluate when to increase risk and when to reduce it. Combined with our internal research framework and proprietary analytics, it supports a professional, long-term approach to managing Web3 investments. 

We do not chase momentum – we anticipate it. And when it appears, we are ready to act decisively. 

Learn More 

Professional investors recognize that informed timing can significantly enhance long-term performance. We strive to demonstrate thought leadership in this space by leveraging market analytics and experience to navigate the Bitcoin vs. altcoin rotations. Venionaire Capital brings institutional rigor to the digital asset space. If you are an investor looking to gain exposure to altcoins through a professionally managed, cycle-aware strategy, we invite you to connect with us. 

Contact our team to learn more about how we identify market cycles, manage volatility, and build conviction in the evolving world of crypto investing. 

Vertrauen als Kapital: Warum persönliche Beziehungen bei Investitionen an Bedeutung gewinnen

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In Zeiten globaler Spannungen, fragmentierter Märkte und wachsender Zurückhaltung institutioneller Investor:innen rückt ein traditionell unterschätzter Faktor in den Fokus: Vertrauen.

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Q.ANT raises €62 million to transform the future of computing with photonic processing

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Q.ANT, a pioneer in photonic processing, today announced a €62 million Series A financing round to accelerate the commercialization of its energy-efficient photonic processors for artificial intelligence (AI) and high-performance computing (HPC).

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Deep Tech Rising Star: EXF Alpha Fund Invests in Photonic Computing Leader Q.ANT’s €62M Series A

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EXF Alpha, the syndication fund managed by Venionaire Ventures S.à r.l., a subsidiary of Venionaire Capital AG, has joined the €62 million Series A funding round of Q.ANT. This German deep tech company is transforming computing with photonic processing technology designed for AI and high-performance computing (HPC).

A Strategic Investment in Next-Generation Computing

Q.ANT develops cutting-edge photonic processors that outperform traditional CMOS-based chips. Their technology delivers better energy efficiency and scalable performance – two essential features for growing AI and HPC infrastructure. As global data demands rise, Q.ANT’s solutions help reduce energy consumption while increasing computing power.

This funding round was co-led by Cherry Ventures, UVC Partners, and imec.xpand. Additional investors include L-Bank, Verve Ventures, Grazia Equity, LEA Partners, Onsight Ventures and TRUMPF.

Q.ANT: The Photonic Computing Leader

Based in Stuttgart, Germany, Q.ANT GmbH is a spin-off of TRUMPF, a global leader in industrial manufacturing. The company designs photonic chips that drive faster, greener data processing. Its innovations power applications in AI, sensing, and medical diagnostics.

“This investment proves that Europe has both the ambition and the capital to lead,” said Dr. Michael Förtsch, founder and CEO of Q.ANT. “It also connects us with strong partners who share our mission to shape the future of computing.”

By replacing electrons with light, Q.ANT builds processors that are not only faster, but also more sustainable.

Supporting Europe’s Deep Tech Ecosystem

At Venionaire Capital, we back European technologies that solve global challenges. Q.ANT’s innovation is a great example. Their processors offer data centers a way to boost performance while cutting energy use.

“We focus on deep tech from Europe with the potential for global impact,” said Berthold Baurek-Karlic, CEO of Venionaire Capital and Managing Director of Venionaire Ventures S.à r.l. “Q.ANT’s photonic architecture offers exactly that: performance, efficiency, and scalability.”

This investment fits our strategy to support breakthrough technologies that promise long-term value.

Aligning With Our Mission

We believe Q.ANT is well-positioned to lead a new era in computing. Their work shows that innovation and sustainability can go hand in hand.

We’re proud to support Dr. Michael Förtsch and his team as they redefine how the world thinks about computing power.

Neue gemeinnützige World Venture Forum Stiftung engagiert sich für Unternehmertum und Wirtschaftsstandort

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Q.ANT, a pioneer in photonic processing, today announced a €62 million Series A financing round to accelerate the commercialization of its energy-efficient photonic processors for artificial intelligence (AI) and high-performance computing (HPC).

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Mei Marie and RelaxTax Merge – A New Step Towards Simplified Tax Filing

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In a strategic move to enhance the user experience and simplify the tax filing process, the Austrian tax-saving apps Mei Marie and RelaxTax have merged under the umbrella of Linde Digital. This merger brings together two innovative solutions aimed at making the tax assessment easier and more accessible for users. Venionaire Capital played a key role in advising on this merger, guiding both parties through the transaction to bring about a more powerful, integrated platform for Austrian taxpayers. With this fusion, the combined strengths of both apps are set to revolutionize the way users navigate their tax filings, providing a more comprehensive and user-friendly solution. 

The Origins of Mei Marie and RelaxTax 

Mei Marie, the tax app launched in October 2023, aimed to simplify the process of filing the employee tax assessment and maximize potential tax savings. Developed by the Linde Verlag, a well-known Austrian company specializing in law, economics, and tax matters, Mei Marie focused on empowering users with the knowledge and tools to identify where they could save on taxes. The app emphasized personal responsibility, guiding users on how to find and claim deductions. 

Soon after, in April 2024, RelaxTax, a Tax-Tech startup based in Vienna, followed suit. RelaxTax took a more hands-on approach by offering users “Tax Buddies” that assisted with tax filing. These characters, modeled after former Austrian politicians and public officials, added a light-hearted touch to the typically tedious process of tax adjustment. 

The New Bot Service – A Complete Solution 

One of the major developments following the merger is the introduction of the “Bot Service” for Mei Marie users. This means that Mei Marie users can now submit their tax adjustments directly to the tax authorities through RelaxTax’s platform, ensuring both security and compliance without relying on third-party providers. This step brings additional convenience and security to users. 

“Taxpayers face three key challenges when dealing with the employee tax assessment: What can I deduct? How do I properly substantiate my claims if the tax office asks? And how do I correctly submit my claims to the authorities to get my money back without any problems?” explains Berthold Baurek-Karlic, Head of Digital Transformation at Linde Digital and CEO of Venionaire Capital. “With the tips and archive features already in place, Mei Marie has solved the first two challenges. The Bot Service now completes the offering.” 

Expanded Features for Users 

The merger also brings expanded features for users of both apps. RelaxTax users will soon have access to the “SteuerSparBuch” from Linde, which serves as the foundation for Mei Marie. On the other hand, Mei Marie users can now take advantage of RelaxTax’s Bot Service and receive personal concierge-style support. Both apps will continue to offer free and paid versions, ensuring there’s a suitable solution for all users. 

“We want to maintain the distinct target groups of Mei Marie and RelaxTax within the employee tax assessment space, but we will also continue to specialize and refine our offerings,” says Baurek-Karlic. “For example, RelaxTax will develop into a multilingual app, which is an important step considering that around a quarter of Austria’s employees are non-native German speakers.” 

A New Chapter for Tax Filing 

The merger of Mei Marie and RelaxTax represents a significant step toward providing a more comprehensive, user-friendly, and secure solution for tax filing in Austria. With the introduction of the Bot Service, expanded features, and plans for multilingual support, tax filing is becoming more accessible and understandable for a wider range of people. 

Venionaire Capital was pleased to advise on this transaction, helping bring together these two innovative solutions that are set to redefine the tax filing process. The future of tax-saving apps looks promising, and this merger sets a new standard in the world of digital tax services. 

WVF 2025: Wie Family Offices in Krisenzeiten agieren

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Wie Family Offices in Krisenzeiten agieren – sie stellen sich nicht ins Rampenlicht, zeigen Mut bei Investitionen, verfügen über genügend Kapital und spielen ihr unternehmerisches Erbe aus.

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World Venture Forum 2025: Tirol wird zum Hotspot für internationale Investor:innen

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Unter dem Motto „Creating Global Relations“ geht das World Venture Forum (WVF) von 30. Juni bis 5. Juli in seine bereits elfte Ausgabe.

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