- Pantera Capital’s $300 million Liquid Token Fund ended Q1 with a 66% return.
- The gains of tokens like Solana, RBN, Aevo, and STX influenced the return.
- Meanwhile, the Fund reduced investments in ETH-based tokens and BTC in Q1.
Pantera Capital’s Liquid Token Fund has emerged as a standout performer in the first quarter of this year, netting nearly 70% gains. In particular, Pantera Capital’s $300 million fund concluded Q1 with a notable 66% return, buoyed by the success of cryptocurrencies like Solana.
Pantera Capital’s Liquid Token Fund performance details were recently disclosed in a shareholder letter. Bloomberg captured details of the letter in a Saturday publication. Per the report, gains in various digital assets, such as RBN, Aevo, and STX, also bolstered the fund’s performance.
Meanwhile, the fund minimized involvement with Bitcoin and Ethereum-related tokens through Q1. As outlined in the shareholder letter, the Liquid Token Fund reduced investments in Ethereum-related coins from January to March. Diminished prospects for Ethereum spot exchange-traded funds in the United States influenced the decision.
During an interview, portfolio manager Cosmo Jiang confirmed the significant reduction in the fund’s Bitcoin holdings by over half within the last three months. “We’d been pretty heavy in Bitcoin until the start of the year, and really, like each month, we’ve decreased that Bitcoin position meaningfully,” Jiang remarked.
Bitcoin surged by 67% through the just-concluded quarter, peaking at a record high of $73,850 by mid-March. Concurrently, Solana (SOL) more than doubled in value over the same period. In particular, SOL soared 128% from as low as $89 to $202 between January 1 and March 31. However, following Bitcoin’s all-time high, the crypto rally has lost momentum.
Pantera Capital, a notable asset manager with assets totaling $5.2 billion, entered the crypto investment arena in 2013 and provides various investment products. In March, the company initiated fundraising efforts for a fund to acquire up to $250 million worth of Solana (SOL) from the FTX estate.
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