Crypto hedge fund Pantera Capital, which has over $5 billion in property underneath administration, has reportedly seen its Liquid Token Fund recognize 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 positive factors as a result of rise of digital property similar to good contract platform Solana (SOL), decentralized derivatives alternate Aevo (AEVO), decentralized finance (DeFi) protocol Ribbon Finance (RBN) and open supply blockchain Stacks (STX).
Pantera’s success partially stemmed from having diminished 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 authorized 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 boost $250 million as a way of buying Solana from bankrupt crypto alternate 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 electronic mail alerts delivered on to your inbox
Verify Price Action
Observe us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Each day Hodl aren’t 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 personal danger, and any loses you might incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please word that The Each day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney
Featured Picture: Shutterstock/Plasteed
