Crypto hedge fund Pantera Capital, which has over $5 billion in belongings below administration, has reportedly seen its Liquid Token Fund respect by 66% throughout Q1 2024.
Based on a brand new report by Bloomberg, Pantera Capital’s $300 million crypto fund ended the primary quarter with huge positive factors as a result of rise of digital belongings resembling sensible contract platform Solana (SOL), decentralized derivatives trade 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 accredited 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 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 method of buying Solana from bankrupt crypto trade 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
Verify Price Action
Observe us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl should not 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 personal threat, and any loses you could incur are your accountability. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please word that The Day by day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney
Featured Picture: Shutterstock/Plasteed
