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Pantera Capital, a salient crypto-focused plus absorption firm, recorded a important nett for its Liquid Token Fund successful the opening 4th of 2024. This affirmative show came contempt the money selling disconnected ample portions of its Bitcoin and Ethereum-linked assets implicit the past fewer months.
How Pantera Capital Grew Its Crypto Fund In Q1 2024
According to a Bloomberg report, Pantera Capital’s Liquid Token Fund posted a 66% summation successful the archetypal 4th of the year. This important instrumentality was reportedly driven by concern successful integer assets, astir notably Solana (SOL).
The worth of Solana has astir doubled successful the past months, with the cryptocurrency crossing $200 concisely earlier this week. It is worthy mentioning that Pantera had launched a $250 cardinal inaugural to acquisition discounted Solana tokens from the property of now-bankrupt FTX, arsenic reported by NewsBTC successful March.
As of this writing, the Solana token is valued astatine astir $179, reflecting a 2.3% terms summation successful the past 24 hours. With a marketplace capitalization, the altcoin ranks arsenic the 5th largest cryptocurrency successful the sector.
A shareholder missive (seen by Bloomberg) revealed that profits from smaller-cap cryptocurrencies and DeFi tokens, including Ribbon Finance (RBN), Aevo, and Stacks (STX), besides contributed to the beardown show of the Liquid Token Fund truthful acold this year.
Based connected information from TradingView, the RBN token is up by implicit 315% year-to-date, portion Aevo has soared by astir 200% successful the abstraction of 3 months. The worth of the Stacks token has besides witnessed immense growth, jumping by much than 110% successful 2024.
Pantera’s Crypto Fund Downsizes Its Bitcoin Holdings
Pantera’s Liquid Token Fund has besides chopped backmost connected its positions successful Bitcoin and tokens linked to the Ethereum web implicit the archetypal quarter. According to the shareholder letter, 1 of the rationales down the reduced vulnerability to Ethereum-linked coins is the slim likelihood of support of spot Ether exchange-traded fund (ETF) successful the United States
Portfolio manager Cosmo Jiang said successful an interview:
We’d been beauteous dense successful Bitcoin until the commencement of the year, and truly similar each period we’ve decreased that Bitcoin presumption meaningfully.
The terms of Bitcoin climbed by much than 60% successful the archetypal 4th of the year, a emergence that has been mostly attributed to the motorboat of the spot Bitcoin ETFs successful the US. The premier cryptocurrency reached a new all-time precocious of $73,798 successful March, albeit it is presently 5% beneath this price.
Featured representation from The Independent, charts from TradingView
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