Ethereum

Token

Stacks

Ribbon Finance

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 <p>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.</p>
 <p>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).</p>
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 <p>Pantera’s success partially stemmed from having reduced exposure to Bitcoin (BTC) and Ethereum (ETH) and allocating to smaller market cap altcoins.</p>
 <p>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.</p>
 <p>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.</p>
 <p><em> “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.”</em></p>
 <p>Last month, Pantera engaged in funding efforts to raise $250 million as a means of purchasing Solana from bankrupt crypto exchange FTX.</p>
 <p>SOL, AEVO, RBN, and STX are trading for $177.29, $2.96, $1.61, and $3.19 at time of writing, respectively.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/pantera-capital-records-66-gain-in-q1-for-liquid-crypto-fund-here-s-some-of-its-altcoin-positions-report-tbt84738.html">https://thebittimes.com/pantera-capital-records-66-gain-in-q1-for-liquid-crypto-fund-here-s-some-of-its-altcoin-positions-report-tbt84738.html</a></p>

Pantera Capital Records 66% Gain in Q1 for Liquid Crypto Fund – Here’s Some of Its Altcoin Positions: Report

TheBitTimes

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