Pantera Capital Data 66% Acquire in Q1 for Liquid Crypto Fund – Right here’s A few of Its Altcoin Positions: Report

Crypto hedge fund Pantera Capital, which has over $5 billion in belongings underneath 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 corresponding to sensible contract platform Solana (SOL), decentralized derivatives change 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 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 Trade 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 way of buying Solana from bankrupt crypto change 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.

Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox

Test Worth Motion

Observe us on Twitter, Fb and Telegram

Surf The Each day Hodl Combine

&nbsp

Disclaimer: Opinions expressed at The Each day Hodl usually are not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any loses you might incur are your accountability. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please word that The Each day Hodl participates in affiliate marketing online.

Generated Picture: Midjourney
Featured Picture: Shutterstock/Plasteed