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    Home » Pantera Capital Posts 66% Gain for Crypto Fund in Q4, Despite Bitcoin Selloff: Bloomberg
    Crypto

    Pantera Capital Posts 66% Gain for Crypto Fund in Q4, Despite Bitcoin Selloff: Bloomberg

    ZEMS BLOGBy ZEMS BLOGApril 6, 2024No Comments2 Mins Read
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    Markets • April 6, 2024, 1:08 PM EST

    published 1 minute ago on

    Pantera Capital, the $5.2 billion asset manager that was the first to focus exclusively on blockchain technology and digital assets, posted a 66% gain for its Liquid Token fund during the first quarter of 2024.

    The gains were led by Solana and smaller tokens such as Ribbon Finance, Aevo and Stacks, according to Bloomberg. a reportwhile the fund sold significant portions of its position in Bitcoin and Ethereum-based tokens.

    Pantera Liquid Token Fund manager explained that the fund has significantly reduced its “heavy” Bitcoin holdings every month this year so far. The fund also rotated positions related to Ethereum-based tokens as the chances of an ETF being approved in May looked lower and lower.

    The fund's gains are roughly equivalent to Bitcoin's 66% year-to-date growth, and higher than Ethereum's growth and the growth of our DeFi index, according to data from The Block.

    Pantera previously set up a $250 million fund to buy locked-down Solana tokens from bankrupt FTX, The Block previously reported, despite some legal controversy over ownership of the tokens.

    Disclaimer: The Block is an independent media outlet that provides news, research and data. As of November 2023, Foresight Ventures is the majority investor in The Block. Foresight Ventures is investing in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is a core program of Foresight Ventures. The Block continues to work independently to provide objective, influential and timely information about the cryptocurrency industry. Below are our current financial disclosures.

    © 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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