Pantera Capital Records 66% Gain in Q1 for Liquid Crypto Fund – Here’s Some of Its Altcoin Positions: Report

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Crypto hedge fund Pantera Capital, which has over $5 billion in belongings below administration, has reportedly seen its Liquid Token Fund respect by 66% throughout Q1 2024.

In line with a brand new report by Bloomberg, Pantera Capital’s $300 million crypto fund ended the primary quarter with huge positive aspects because of the rise of digital belongings similar to good 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 decreased 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 reduce on belongings linked to Ethereum because of the 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 12 months.

“We’d been fairly heavy in Bitcoin till the beginning of the 12 months, and actually like every month we’ve decreased that Bitcoin place meaningfully.”

Final month, Pantera engaged in funding efforts to lift $250 million as a method 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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