Pantera Capital’s Liquid Token Fund returned 66% in the first quarter of 2024, driven by investments in DeFi tokens like Solana.
As specified in the shareholder letter that was reviewed by Bloomberg It was found that the fund’s strong performance from January to March It was also supported by assets such as Ribbon Finance (RBN) and Stacks, along with reducing its holdings of Bitcoin and Ether.
Portfolio manager Cosmo Jiang told Bloomberg that the fund has cut its Bitcoin holdings by more than half since the start of the year. “We held quite a large amount of Bitcoin at the start of the year and we are very pleased that each month we have reduced our Bitcoin holdings meaningfully,” he said.
Data from TradingView shows that the RBN token is up 400.43% so far this year, while gains for SOL are 69.88%, outpacing Bitcoin’s 62.59% gain in 2024.
The Pantera Liquid Token Fund launched in November 2017 with a portfolio of 10-20 tokens. The fund is designed for accredited investors willing to pay a minimum of $100,000 and is primarily focused on decentralized finance tokens. (DeFi)
Pantera Capital is a $5.2 billion asset manager and an early investor in the crypto space. The company recently raised approximately $250 million to purchase SOL tokens from FTX in the past. The tokens were reportedly purchased at a price of $5.2 billion. $64, which is about 60 % below the current market price, and is locked in for 4 years.
refer : cointelegraph.com
picture cryptonews.com
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