Pantera Capital, the $5.2 billion asset manager that pioneered an exclusive focus on blockchain technology and digital assets, saw a 66% gain for its Liquid Token Fund during the first quarter 2024.
The gains were led by Solana GROUND
+2.95%
RBN +2.62%
STX +6.15%
BTC +0.93%
ETH +2.11%
The manager of Pantera’s Liquid Token Fund explained that the fund has significantly reduced its “heavy” Bitcoin holdings every month this year so far. The fund also shed its positions linked to Ethereum-based tokens as the chances of the ETF being approved in May looked increasingly slim.
The fund’s gains are approximately equal to Bitcoin’s 66% year-to-date growth, and greater than Ethereum’s growth and the growth of our DeFi index, according to data from The Block.
Pantera previously created a $250 million fund to purchase locked Solana tokens from FTX’s bankruptcy estate, The Block previously reported, despite some legal controversy surrounding ownership of the tokens.
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