MiCA licensed CASP by the FSC of Bulgaria · Licence No. 001-DUKA/07.05.2026
MiCA CASP licencse · No. 001-FSC Bulgaria
HOW MANAGEMENT WORKS
Portfolio Management of Crypto-Assets
Belayer applies a professional investment and operational framework to each client’s portfolio from assessing and selecting assets to executing transactions, custody, risk monitoring and reporting.
You do not acquire a stake in a fund or a standalone BAX or BAY token. The service is provided under an individual agreement and portfolio management mandate.
STARTING amount
Minimum investment: EUR 5,000
ASSESSMENT
Appropriateness and suitability assessment before entering into an agreement
REPORTING
Monthly report on the portfolio’s net asset value (NAV) and performance
Managed under a mandate, rather than bought as a ready-made product
Belayer
Defines the investment thesis permitted under the mandate.
Analyses and selects crypto-assets, protocols and counterparties.
Determines the size and weight of positions.
Executes transactions and rebalances the portfolio.
Arranges custody and access controls.
Monitors risk, liquidity and developments affecting the investment theses.
Provides regular reporting.
MANAGES
The client
Has an individual agreement and management mandate.
Receives an individual appropriateness and suitability assessment.
Has recorded rights to the crypto-assets held on their behalf.
Receives information about the portfolio’s value, composition and performance
May add or withdraw funds in accordance with the agreed terms.
OWNS
Individual management means that investment decisions are made within agreed objectives, restrictions and a risk profile.
BAX and BAY are defined investment approaches that may be applied within an individual client portfolio. They are not public funds, collective investment schemes or tokens available for separate purchase.
From risk profile to individual positions
A portfolio does not begin with a list of popular crypto-assets. It begins with the client’s objectives, investment horizon, financial circumstances and ability to bear losses.
Profile and restrictions
We establish the investment objectives, horizon, liquidity needs, knowledge, experience and acceptable level of risk.
01
Investment universe
Belayer assesses liquid crypto-assets, blockchain networks, DeFi protocols and other eligible opportunities using fundamental, quantitative, market and on-chain indicators.
02
Allocation and position sizing
The size of each position reflects our conviction in the investment thesis, liquidity, expected volatility, correlation with other positions and contribution to overall portfolio risk.
03
Execution and custody
Transactions are executed through controlled procedures. Client crypto-assets are segregated from the company’s own assets, and each client’s rights are maintained in a separate register.
04
Monitoring and rebalancing
Positions may be increased, reduced or closed when the investment thesis, valuation, liquidity, security, market conditions or regulatory risk changes.
05
Different sources of return within one individual mandate
BAX and BAY serve different investment purposes. They may be used separately or together when this is consistent with the client’s objectives and risk profile.
Belayer Apex (BAX)
Long-term capital appreciation
BAX builds selective exposure to liquid crypto-assets based on fundamental, quantitative and on-chain analysis.
The strategy is intended for investors with a long investment horizon and a high tolerance for volatility. It may experience substantial declines and is unsuitable for capital that may be needed in the short term.
Belayer Anchor Yield (BAY)
DeFi yield with limited direct dependence on market direction
BAY seeks returns through lending, liquidity provision, arbitrage opportunities and market-neutral positions.
Limited dependence on the direction of the crypto market does not mean an absence of risk. BAY involves technology, protocol, counterparty, liquidity and currency risks.
COMBINING THE STRATEGIES
When BAX and BAY are combined, their exact weights are not predetermined. They depend on the client’s investment objectives, financial circumstances, knowledge, experience, horizon and ability to bear losses.
Risk is managed before, during and after each position
Risk management does not eliminate the possibility of loss. Its purpose is to identify, measure, limit and monitor risks within the individual mandate.
before
Eligibility and analysis
Before a position is included, we assess the investment rationale, liquidity, security, technical dependencies, regulatory risk and ability to exit the position.
Investing in crypto-assets involves high risk and may result in a partial or substantial loss of invested capital.
DURING
Diversification and limits
Exposure may be limited by asset, sector, network, protocol, counterparty or provider. Diversification may reduce concentration risk, but it does not eliminate the risk of loss.
Custody and access
We use controlled authorisation procedures, multiple levels of approval and access-rights management.
Afterwards and ongoing
Continuous monitoring
Belayer monitors positions, liquidity, counterparties and infrastructure dependencies. Exposure may be reduced or closed if the expected balance between risk and return deteriorates.
From the first conversation to an individual portfolio
Introductory conversation
01
We discuss your objectives, experience, investment horizon, liquidity needs and attitude to risk.
We discuss your objectives, experience, investment horizon, liquidity needs and attitude to risk.
Appropriateness and suitability assessment
02
We assess your knowledge, experience, financial circumstances, investment objectives and ability to bear losses.
Completing the questionnaire does not guarantee that the service will be assessed as suitable for you.
We discuss your objectives, experience, investment horizon, liquidity needs and attitude to risk.
Identification and checks
03
We collect the required documents and carry out identity and source-of-funds checks in accordance with applicable requirements.
We discuss your objectives, experience, investment horizon, liquidity needs and attitude to risk.
Agreement and individual mandate
04
We agree the strategy, restrictions, applicable fees and terms for management, custody and reporting.
Обсъждаме вашите цели, опит, инвестиционен хоризонт, нужди от ликвидност и отношение към риска.
Transfer and start of management
05
You receive specific instructions for transferring funds and confirmation when management begins.
We discuss your objectives, experience, investment horizon, liquidity needs and attitude to risk.
Management and reporting
06
Belayer manages the portfolio in accordance with the agreed mandate and provides regular information about its value and performance.
We discuss your objectives, experience, investment horizon, liquidity needs and attitude to risk.
Every portfolio begins with an understanding of your objectives.
Terms you should know in advance
Full fee schedule and terms ↗
Minimum investment
EUR 5,000 to open an individually managed portfolio.
Management fee
The annual management fee ranges from 1% to 2% and is calculated progressively according to portfolio value. It accrues proportionately at the end of each calendar month.
Performance fee
For BAX, a performance fee of 18% of the realised positive result after the management fee applies, subject to a high-water mark.
No performance fee applies to BAY.
Deposits and withdrawals
There are no one-off entry or exit fees.
Bank, exchange, blockchain and other transaction-related costs may apply.
Liquidity
A partial or full withdrawal may be requested after the first month.
The time needed to fulfil a withdrawal request depends on the strategy, liquidity, market conditions and infrastructure used.
Reporting
Clients receive a monthly report showing NAV, performance for the period and performance since the start of their individual investment.