Crypto hedge fund Pantera Capital, which has over $5 billion in property below 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 huge features as a result of rise of digital property resembling good 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 property linked to Ethereum as a result of odds of an Ethereum-based exchange-traded fund (ETF) getting accredited 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 lowering its publicity to Bitcoin because the 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 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 Price Action
Comply with us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl are usually not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any loses you could incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney
Featured Picture: Shutterstock/Plasteed
