Great start: Pantera Capital crypto fund received 66% profit in the first quarter
Date: 2024-04-08 Author: Henry Casey Categories: BUSINESS
In the first quarter of this year, the Pantera Capital crypto fund showed a high return of 66%, thanks to successful investments in various cryptocurrencies such as SOL, RBN, AEVO and STX.
Profitable investments
The main sources of growth were Solana (SOL), which reached a level above $200, as well as Ribbon Finance (RBN), Aevo (AEVO) and Stacks (STX) tokens. For example, RBN increased from $0.32 to $1.72, AEVO rose above $3.7, and STX rose from $1.5 to $3.65 in the first months of 2024.
Pantera Capital has decided to reduce its investment in coins on the Ethereum network due to potential risks associated with the lack of approval of spot Ethereum ETFs in the United States. Additionally, the fund has reduced its Bitcoin holdings by more than 50% over the past three months.
General results and prospects
Pantera Capital's crypto fund currently has a valuation of $300 million, with assets under management of $5.2 billion. The fund invests in 10-20 liquid tokens with a discretionary strategy focused on decentralized finance and related assets.
Pantera Capital has taken the initiative to attract investors to purchase $250 million worth of Solana (SOL) tokens from the FTX exchange. In addition, representatives of the fund emphasized interest in the Bitcoin halving and the potential of decentralized exchanges in the context of future investment strategies.
