Bloomberg: Pantera Capital's crypto fund achieved a 66% return in Q1, benefiting from small tokens like SOL

ChainCatcher news, according to Bloomberg, the Liquid Token fund under the crypto asset management giant Pantera Capital, with a scale of approximately $300 million, achieved a return of 66% in the first quarter, mainly driven by smaller tokens such as Solana (SOL). At the same time, the fund significantly reduced its exposure to Bitcoin and Ethereum tokens.

According to a letter to shareholders from Pantera Capital, in addition to Solana, the increases in digital assets such as RBN, Aevo, and STX also contributed to the fund's performance in the first quarter. Furthermore, considering factors such as the reduced likelihood of the U.S. approving a spot ETH ETF, the fund has decreased its investments in tokens related to the Ethereum blockchain.

Fund manager Cosmo Jiang stated in an interview that the Bitcoin holdings of the Liquid Token fund have decreased by more than half over the past three months. "At the beginning of the year, we had a heavy position in Bitcoin, but we significantly reduced our Bitcoin exposure every month thereafter."