5 Years of Hodl Genesis: 5 questions to Maurice Mureau
Five years ago, Hodl launched its first fund: Hodl Genesis. A lot has happened since then, from rapid growth and international expansion to our transformation into a multi-strategy fund. On the occasion of this milestone, we reflect on the past and look ahead with CEO Maurice Mureau.
How do you look back on the past five years?
"I look back with both pride and a critical mindset. Over the years, we’ve had the privilege of guiding hundreds of investors as they took their first steps into the crypto market. From entrepreneurs and professionals to family offices, they were all seeking diversification and a reliable partner in a new asset class. It’s incredibly rewarding to know we’ve played a role in that journey.
It’s also been fascinating to watch the market evolve. What started as a space dominated by pioneers, risk-takers, and vague structures has matured into something much more institutional, with regulated ETFs, corporates adding Bitcoin to their balance sheets, and clearer regulatory frameworks.
At the same time, I have to be honest: our growth at Hodl sometimes moved faster than ideal. We were building on multiple fronts, expanding abroad, growing the team, launching new funds and strategies. That brought many good things, but also created pressure and forced us at times to say goodbye to colleagues. That’s part of entrepreneurship, but it’s never easy."
What are you most proud of?
"What I’m most proud of is the team we’ve built. In just five years, we’ve grown from a small group of pioneers to an organisation of specialists, each with their own expertise, from trading to compliance, from venture capital to development.
What’s special to me is that we’ve managed to preserve our sense of connection throughout that growth. There’s a real feeling of unity and shared purpose — like a family working together on something greater than ourselves. That, to me, is the foundation of our success. Without a strong team, you can’t build a sustainable organisation. And in a market as dynamic as crypto, the human factor might just be more important than ever."
What have been the biggest challenges?
"Our international ambitions definitely brought the biggest challenges. Expanding into Luxembourg and Gibraltar was necessary to establish Hodl as a serious player in Europe and to give investors in multiple jurisdictions access to our funds, and eventually, a path toward regulated structures. But that journey was far from simple.
You face new regulators, different legal frameworks, varying tax structures, and inconsistent fund operations across borders. That adds a layer of complexity, both operationally and strategically. We’ve invested a lot of time and energy in navigating that, and at times that led to delays.
Still, I’m glad we took that step. These international moves have positioned Hodl not just as a Dutch player, but as a serious force in the broader European landscape."
What would you have done differently?
"In hindsight, I think we should’ve adjusted Genesis’ strategy earlier to the changing dynamics of the crypto market. In the early years, we saw clear capital rotation cycles: from Bitcoin to Ethereum, and then to altcoins. That pattern generated a lot of return.
But in recent years, that changed. Bitcoin became more dominant, and altcoins started showing shorter and more selective periods of outperformance. We saw the trend, but we held on to the old playbook for too long. In hindsight, we should’ve shifted to more defensive strategies sooner, or placed more emphasis on Bitcoin when appropriate.
That would’ve helped us navigate bear markets more effectively. It’s a lesson we’ve taken to heart, and it’s the reason why, earlier this year, we transitioned all our Dutch funds into a multi-strategy structure."
How do you see the next five years for Hodl Genesis?
"I’m confident about what’s ahead. The new multi-strategy structure gives us far more flexibility and responsiveness. We can more quickly capture short- and mid-term trading opportunities, move to stablecoins when needed, and generate returns even in downward markets through delta- and market-neutral strategies.
We now have a fund structure that is far more robust than it was five years ago. Instead of just riding market trends, we can actively steer and manage risk. Our goal is clear: deliver a positive return every year, regardless of market conditions. It’s ambitious — but realistic, given the tools we have today.
The early results over the past few months confirm we’re on the right track. I see Genesis not just as our first fund, but as the foundation we continue to build on, now with more experience, international presence, and a stronger team than ever. I look to the next five years with excitement and optimism."
