Preheat oven to 350 degrees. Unwrap Brie and place in a shallow ovenproof serving dish; place dish on a baking sheet.
In a skillet over medium high heat, combine butter and olive oil. Add onion and sauté for 2–4 minutes or until they become translucent. Add frozen blueberries and continue to stir for an additional 1–2 minutes. Add balsamic vinegar, maple syrup, cinnamon stick, and thyme to the mixture, stirring occasionally.
Reduce heat to low and simmer for about 10–12 minutes or until the liquid is reduced and you have a jam like consistency. Remove from heat and discard cinnamon stick.
Pour chutney on top of the Brie round and bake for 10–12 minutes.
Serve immediately with crusty bread or crackers. Serves 8.