Crypto hedge fund Pantera Capital, which has over $5 billion in assets under management, has reportedly seen its Liquid Token Fund appreciate by 66% during Q1 2024.

According to a new report by Bloomberg, Pantera Capital’s $300 million crypto fund ended the first quarter with massive gains due to the rise of digital assets such as smart contract platform Solana (SOL), decentralized derivatives exchange Aevo (AEVO), decentralized finance (DeFi) protocol Ribbon Finance (RBN) and open source blockchain Stacks (STX).

Pantera’s success partially stemmed from having reduced exposure to Bitcoin (BTC) and Ethereum (ETH) and allocating to smaller market cap altcoins.

In a shareholder letter seen by Bloomberg, it was noted that Pantera cut back on assets linked to Ethereum due to the odds of an Ethereum-based exchange-traded fund (ETF) getting approved by the U.S. Securities and Exchange Commission (SEC) being lowered.

In an interview, Cosmo Jiang, Pantera Capital’s portfolio manager, tells Bloomberg that the fund has been steadily reducing its exposure to Bitcoin since the start of the year.

“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.”

Last month, Pantera engaged in funding efforts to raise $250 million as a means of purchasing Solana from bankrupt crypto exchange FTX.

SOL, AEVO, RBN, and STX are trading for $177.29, $2.96, $1.61, and $3.19 at time of writing, respectively.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Pantera Capital Records 66% Gain in Q1 for Liquid Crypto Fund – Here’s Some of Its Altcoin Positions: Report appeared first on The Daily Hodl.

Crypto hedge fund Pantera Capital, which has over $5 billion in assets under management, has reportedly seen its Liquid Token Fund appreciate by 66% during Q1 2024.

According to a new report by Bloomberg, Pantera Capital’s $300 million crypto fund ended the first quarter with massive gains due to the rise of digital assets such as smart contract platform Solana (SOL), decentralized derivatives exchange Aevo (AEVO), decentralized finance (DeFi) protocol Ribbon Finance (RBN) and open source blockchain Stacks (STX).

Pantera’s success partially stemmed from having reduced exposure to Bitcoin (BTC) and Ethereum (ETH) and allocating to smaller market cap altcoins.

In a shareholder letter seen by Bloomberg, it was noted that Pantera cut back on assets linked to Ethereum due to the odds of an Ethereum-based exchange-traded fund (ETF) getting approved by the U.S. Securities and Exchange Commission (SEC) being lowered.

In an interview, Cosmo Jiang, Pantera Capital’s portfolio manager, tells Bloomberg that the fund has been steadily reducing its exposure to Bitcoin since the start of the year.

“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.”

Last month, Pantera engaged in funding efforts to raise $250 million as a means of purchasing Solana from bankrupt crypto exchange FTX.

SOL, AEVO, RBN, and STX are trading for $177.29, $2.96, $1.61, and $3.19 at time of writing, respectively.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
Featured Image: Shutterstock/Plasteed

The post Pantera Capital Records 66% Gain in Q1 for Liquid Crypto Fund – Here’s Some of Its Altcoin Positions: Report appeared first on The Daily Hodl.