CDS Crypto News Pantera Capital’s Liquid Token Fund Surges 66% in Q1 2024, Led by Solana and Altcoins
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Pantera Capital’s Liquid Token Fund Surges 66% in Q1 2024, Led by Solana and Altcoins

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Pantera Capital's Liquid Token Fund Surges 66% in Q1 2024, Led by Solana and Altcoins

Pantera Capital’s Liquid Token Fund Surges 66% in Q1 2024, Led by Solana and Altcoins

Crytpo NewsPantera Capital, the $5.2 billion asset manager renowned for pioneering a focus exclusively on blockchain technology and digital assets, has revealed an impressive 66% gain for its Liquid Token Fund during the first quarter of 2024.

According to a report by Bloomberg, this surge in performance was primarily driven by notable contributions from Solana, alongside smaller-cap tokens like Ribbon Finance, Aevo, and Stacks. Interestingly, the fund also made significant divestments from its holdings in Bitcoin and Ethereum-based tokens.

The manager overseeing Pantera’s Liquid Token Fund elucidated that the fund has been progressively reducing its substantial Bitcoin exposure each month since the beginning of the year. Furthermore, there has been a strategic shift away from positions tied to Ethereum-based tokens, reflecting diminishing prospects for ETF approval in May.

The reported gains of the fund mirror Bitcoin’s year-to-date growth of 66%, outpacing the growth of Ethereum as well as the DeFi index, as per data from The Block.

Pantera’s proactive stance in the market was highlighted by its establishment of a $250 million fund aimed at acquiring locked Solana tokens from the FTX bankruptcy estate, as previously reported by The Block, notwithstanding legal controversies surrounding the ownership of said tokens.

Pantera Capital's Liquid Token Fund Surges 66% in Q1 2024, Led by Solana and Altcoins

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