Pantera Capital, a widely known cryptocurrency-focused asset administration agency, recorded important earnings for its Liquid Token Fund within the first quarter of 2024. The optimistic efficiency comes regardless of the fund promoting most of its Bitcoin and Ethereum-related property up to now.
How Pantera Capital is rising its crypto fund in Q1 2024
In response to Bloomberg, Pantera Capital’s Liquid Token fund rose 66% within the first quarter of this yr. The large returns have been reportedly pushed by investments in digital property, particularly Solana (SOL).
Solana’s worth has almost doubled up to now few months, with the cryptocurrency briefly topping $200 earlier this week. It’s price mentioning that, in line with NewsBTC stories in March this yr, Pantera has launched a $250 million plan to buy discounted Solana tokens from the now-bankrupt FTX property.
As of this writing, the Solana token is price round $179, with the worth up 2.3% up to now 24 hours. The altcoin is the fifth largest cryptocurrency within the trade when it comes to market capitalization.
SOL worth on the each day timeframe | Supply: TradingView
Earnings from smaller crypto and DeFi tokens, together with Ribbon Finance (RBN), Aevo and Stacks (STX), additionally contributed to Liquid Token Fund’s sturdy efficiency to this point this yr, in line with a shareholder letter seen by Bloomberg contribute.
The RBN token is up greater than 315% yr to this point, whereas Aevo has soared almost 200% in three months, in line with TradingView. The worth of the Stacks token has additionally seen great development, leaping over 110% in 2024.
Pantera’s crypto fund shrinks its Bitcoin holdings
Pantera’s Liquid Token Fund additionally trimmed positions in Bitcoin and tokens associated to the Ethereum community in the course of the first quarter.One purpose for the lowered publicity to Ethereum-related tokens is the low probability of U.S. approval of a spot Ethereum exchange-traded fund (ETF), in line with the shareholder letter
Portfolio supervisor Cosmo Jiang stated in an interview:
Till the start of this yr, we have been closely holding Bitcoin, and each month we meaningfully lowered our Bitcoin place.
Within the first quarter of this yr, the worth of Bitcoin rose by greater than 60%, an increase that was largely attributed to the launch of a spot Bitcoin ETF in the USA. The highest cryptocurrency hit an all-time excessive of $73,798 in March, though it’s at the moment 5% under that worth.
The worth of Bitcoin makes an attempt to interrupt above $70,000 on the each day timeframe | Supply: BTCUSDT chart on TradingView
Featured picture from The Impartial, chart from TradingView
