Bluebottle Market Neutral Funds rank first and second in FundMonitor’s FY2026 annual digital asset performance review
JellyC’s Bluebottle Market Neutral Fund and Bluebottle Market Neutral Australia Fund ranked first and second, respectively, in the Digital Assets category of FundMonitors’ FY2026 Annual Performance Review.
The result came over a challenging year for digital asset markets, with only three of the 11 funds in the category finishing 12 months to 30 June 2026 in positive territory.
Over the period:
Bluebottle Market Neutral Fund returned +8.79%
Bluebottle Market Neutral Australia Fund returned +8.29%
Both funds also maintained low volatility.
Only 3 of 11 funds in the category finished the year positively.
Why the market-neutral strategies stood out
The Bluebottle Market Neutral strategy is designed to generate returns from arbitrage, relative-value and yield opportunities across digital asset markets, rather than relying on the market moving in a particular direction.
This approach distinguished the Bluebottle Market Neutral funds from more directional strategies in FY2026.
While funds dependent on rising digital asset prices experienced significant declines, BMN and BMNA continued to generate positive returns by focusing on opportunities arising from market structure, pricing differences and available yields.
The result illustrates the role a market-neutral strategy can play within digital assets: seeking to generate returns from the operation of the market itself, rather than relying on bitcoin or the broader market appreciating.
Both funds also offer daily liquidity, which remains uncommon among comparable digital asset strategies.
FY2026 returns, all 11 Digital Asset funds (%). The three funds that avoided directional exposure were the only three that finished positive for the year.
Source: FundMonitors.com.
Bitcoin Plus outperforms spot Bitcoin
The Bluebottle Bitcoin Plus Australia Fund also outperformed spot Bitcoin over the 12 months from 1 July 2025 to 30 June 2026. This period also represents the full track record since the inception of JellyC’s institutional strength collateral mirroring strategy with partners Franklin Templeton and Standard Chartered.
While both Bitcoin Plus Australia and Bitcoin declined over the year, BBPA outperformed spot Bitcoin by 1.14 percentage points.
Bitcoin Plus maintains core Bitcoin exposure while applying complementary market-neutral strategies through the collateral mirroring approach, with the collateral itself earning iBENJI yield.
The strategy is designed to retain exposure to the Bitcoin price while seeking to generate additional compounding yield from the collateral supporting that exposure.
The fund’s first full year offers an early read on the strategy’s intended return profile. That is, retaining exposure to Bitcoin, with the benefits from the collateral-mirroring program, and select market-neutral strategies providing outperformance versus spot Bitcoin over the period.
About the review
The review is produced by FundMonitors.com, operated by Australian Fund Monitors Pty Ltd (AFSL 324476), an independent research house that tracks and compares more than 900 actively managed funds across the Australian market, providing peer group analysis, performance rankings and risk analytics for investors and advisers.
FundMonitors states that it does not receive fees from fund managers for inclusion in its database or reports, so the rankings reflect its own methodology rather than paid placement.
Past performance is not a reliable indicator of future performance. Target returns are objectives only and are not guaranteed. The relative ranking of Bitcoin Plus against a passive vehicle in one period does not indicate it will outperform in any other. General information only, intended for wholesale investors; not personal financial advice. Consider the relevant offer document before investing. Rankings and figures sourced from the FundMonitors.com FY2026 review.
Disclaimer
This article ("Article") has been prepared for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to purchase any financial product or service. This Article does not form part of any offer document issued by JellyC Pty Ltd (CAR Number 001293184), a corporate authorised representative of TAF Capital Pty Ltd (ACN 159 557 598, AFSL 425925). Past performance is not necessarily indicative of future results, and no person guarantees the performance of any financial product or service mentioned in this Article, nor the amount or timing of any return from it.
This material has been prepared for wholesale clients, as defined under Sections 761G and 761GA of the Corporations Act 2001 (Cth), and must not be construed as financial advice. Neither this Article nor any offer document issued by JellyC Pty Ltd or TAF Capital Pty Ltd takes into account your investment objectives, financial situation, or specific needs.
The information contained in this Article may not be reproduced, distributed, or disclosed, in whole or in part, without prior written consent from JellyC Pty Ltd. This Article has been prepared by JellyC Pty Ltd, which, along with its related parties, employees, and directors, makes no representation or warranty as to the accuracy or reliability of the information provided and accepts no liability for any reliance placed on it. Prospective investors should obtain and review the relevant offer documents before making any investment decision.
