Crypto hedge fund Pantera Capital, which has over $5 billion in belongings beneath administration, has reportedly seen its Liquid Token Fund recognize 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 beneficial properties as a result of rise of digital belongings akin 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 lowered 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 authorized 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 because the begin of the yr.
“We’d been fairly heavy in Bitcoin till the beginning of the yr, 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 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
Examine Worth Motion
Comply with us on Twitter, Fb and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl aren’t 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 notice that The Each day Hodl participates in online marketing.
Generated Picture: Midjourney
Featured Picture: Shutterstock/Plasteed
