Crypto Fund of Pantera Capital Surges
Crypto Fund of Pantera Capital Surges
Pantera Capital’s crypto fund, known as the Liquid Token Fund, records a 66% hike during the first quarter of 2024. The asset is now valued at $300 million following the surge in the value of the crypto market in the same period.
According to The Crypto Times, the recent surge is primarily caused by Pantera’s strategic move towards less mainstream cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
On the other hand, reports revealed that it has been raising capital to purchase $250 million worth of Solana from FTX. SOL is up nearly 800% year-on-year with its current price of $179.68 and recorded an ROI of 83% in the past three months.
The fund has been doubling down on lesser-known tokens such as Ribbon Finance (RBN), Aevo, and Stax (STX), showing its intention to build a more diversified portfolio moving forward.
According to sources familiar with the matter, Pantera reduced its Bitcoin (BTC) holdings by half since the beginning of 2024. This is at the same time that crypto gold recorded its strongest performance since 2021, hitting an all-time high price of $73,797.35 in March.
Despite these strong performances from crypto giants, a report published by CoinTelegraph revealed RBN is up 400% year-to-date, outperforming Bitcoin’s +63% and Solana’s +70%.
Pantera Capital is an asset management company worth $5.2 billion. It started its crypto investments in 2013, with its Liquid Token Fund launching in 2017. The fund now holds a pool of 10 to 20 liquid tokens.
