- Pantera Capital's $300 million liquid token fund ended the primary quarter with a 66% return.
- Rising tokens resembling Solana, RBN, Aevo, and STX impacted returns.
- In the meantime, the fund diminished its investments in ETH-based tokens and BTC within the first quarter.
Pantera Capital's Liquid Token Fund had an impressive efficiency within the first quarter of this yr, returning almost 70%. Notably, his $300 million fund at Pantera Capital ended the primary quarter with a outstanding 66% return, buoyed by the success of cryptocurrencies like Solana.
Particulars of the efficiency of Pantera Capital's Liquid Token Fund have been lately revealed in a letter to shareholders. Bloomberg reported particulars of the letter in a publication on Saturday. In response to the report, beneficial properties in numerous digital belongings resembling RBN, Aevo, and STX additionally boosted the fund's efficiency.
In the meantime, the fund minimized its involvement in Bitcoin and Ethereum-related tokens all through the primary quarter. As outlined in a letter to shareholders, Liquid Token Fund diminished its investments in Ethereum-related cash from January to March. The declining outlook for the Ethereum Spot ETF within the US influenced this choice.
Portfolio supervisor Cosmo Jiang acknowledged in an interview that the fund’s Bitcoin holdings have plummeted by greater than half up to now three months. “Up till the start of this yr, we had a large place in Bitcoin, however we now have truly meaningfully diminished our Bitcoin place on a month-to-month foundation,” Jiang stated.
Bitcoin soared 67% by way of the just-ended quarter, reaching an all-time excessive of $73,850 by mid-March. On the similar time, the worth of Solana (SOL) has greater than doubled in the identical interval. Notably, SOL soared 128% between his January 1st and March thirty first, from $89 to $202. Nonetheless, after Bitcoin's all-time excessive, the cryptocurrency's rally misplaced momentum.
Pantera Capital is a outstanding asset administration firm with complete belongings of $5.2 billion that entered the crypto funding area in 2013 and gives a wide range of funding merchandise. In March, the corporate started fundraising efforts for a fund to amass as much as $250 million price of Solana (SOL) from FTX Actual Property.
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