Pantera Capital’s Liquid Token Fund, with belongings totaling round $300 million, reported a 66% achieve within the first quarter.
This was largely pushed by investments in cryptocurrencies like Solana whereas lowering its stakes in Bitcoin and Ethereum-related belongings.
In response to Bloomberg, altcoins comparable to RBN, Aevo, and STX additionally contributed to this spectacular first-quarter efficiency.
Throughout the identical interval, Bitcoin noticed a 67% improve, hitting a peak of $73,798 by mid-March, solely to expertise a slight decline thereafter.
In distinction, Solana’s worth practically doubled. Costs for Bitcoin and Solana have been recorded at $67,540 and $174, respectively, eventually test on Saturday, April 6.
Pantera principally centered on Bitcoin investments till January.
Nonetheless, anticipating a wider bull market, the fund constantly decreased its Bitcoin place month-to-month and diversified its portfolio with different standard tokens.
The fund additionally scaled again on investments in Ethereum-based tokens, influenced by challenges together with diminished expectations for the U.S. approval of spot-Ether exchange-traded funds (ETFs).
With $5.2 billion underneath administration, Pantera Capital has been an lively participant within the cryptocurrency market since 2013, providing numerous funding merchandise.
Earlier this week, the agency bought a big portion of FTX’s $1.9 billion price of Solana holdings at a reduction value.