Pantera Capital, a prominent crypto-focused asset management firm, recorded a significant profit for its Liquid Token Fund in the opening quarter of 2024. This positive performance came despite the fund selling off large portions of its Bitcoin and Ethereum-linked assets over the past few months.
How Pantera Capital Grew Its Crypto Fund In Q1 2024
According to a Bloomberg report, Pantera Capital’s Liquid Token Fund posted a 66% gain in the first quarter of the year. This substantial return was reportedly driven by investment in digital assets, most notably Solana (SOL).
The value of Solana has nearly doubled in the past months, with the cryptocurrency crossing $200 briefly earlier this week. It is worth mentioning that Pantera had launched a $250 million initiative to purchase discounted Solana tokens from the estate of now-bankrupt FTX, as reported by NewsBTC in March.
As of this writing, the Solana token is valued at around $179, reflecting a 2.3% price increase in the past 24 hours. With a market capitalization, the altcoin ranks as the fifth largest cryptocurrency in the sector.
SOL price on the daily timeframe | Source: TradingView
A shareholder letter (seen by Bloomberg) revealed that profits from smaller-cap cryptocurrencies and DeFi tokens, including Ribbon Finance (RBN), Aevo, and Stacks (STX), also contributed to…
