Pantera Capital Records 66% Gain in Q1 for Liquid Crypto Fund – Here’s Some of Its Altcoin Positions: Report
Crypto hedge fund Pantera Capital, which has over $5 billion in belongings beneath administration, has reportedly seen its Liquid Token Fund admire by 66% throughout Q1 2024.
In response to a brand new report by Bloomberg, Pantera Capital’s $300 million crypto fund ended the primary quarter with large good points as a result of rise of digital belongings reminiscent of sensible contract platform Solana (SOL), decentralized derivatives trade Aevo (AEVO), decentralized finance (DeFi) protocol Ribbon Finance (RBN) and open supply blockchain Stacks (STX).
Pantera’s success partially stemmed from having diminished publicity to Bitcoin (BTC) and Ethereum (ETH) and allocating to smaller market cap altcoins.
In a shareholder letter seen by Bloomberg, it was famous that Pantera in the reduction of on belongings linked to Ethereum as a result of odds of an Ethereum-based exchange-traded fund (ETF) getting accepted by the U.S. Securities and Change Fee (SEC) being lowered.
In an interview, Cosmo Jiang, Pantera Capital’s portfolio supervisor, tells Bloomberg that the fund has been steadily decreasing its publicity to Bitcoin for the reason that begin of the yr.
“We’d been pretty heavy in Bitcoin until the start of the year, and really like each month we’ve decreased that Bitcoin position meaningfully.”
Final month, Pantera engaged in funding efforts to lift $250 million as a way of buying Solana from bankrupt crypto trade FTX.
SOL, AEVO, RBN, and STX are buying and selling for $177.29, $2.96, $1.61, and $3.19 at time of writing, respectively.
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