Pantera Capital’s Liquid Token Fund Soars 66% in Q1 2024, Diversifies Beyond Bitcoin and Ethereum
Pantera Capital, a pioneering $5.2 billion asset management firm dedicated exclusively to blockchain and digital assets, has reported a 66% increase in its Liquid Token Fund for the first quarter of 2024.
This surge was primarily driven by investments in Solana and lesser-known tokens like Ribbon Finance, Aevo, and Stacks, as reported by Bloomberg. Concurrently, the fund has significantly reduced its holdings in Bitcoin and Ethereum-based assets.
The head of Pantera’s Liquid Token Fund disclosed a strategic reduction in Bitcoin holdings each month of the current year. Additionally, the fund has shifted away from Ethereum-related investments due to diminishing prospects of ETF approval in May.
The fund’s performance mirrors Bitcoin’s 66% year-to-date growth and surpasses both Ethereum’s increase and the growth of the DeFi index, as per data from The Block.
In a bold move, Pantera had also established a $250 million fund aimed at acquiring locked Solana tokens from the FTX bankruptcy estate, despite ongoing legal disputes over the tokens’ ownership.
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