Pantera Capital’s Liquid Token Fund, with assets totaling around $300 million, reported a 66% gain in the first quarter. This growth was driven by investments in cryptocurrencies like Solana, with reduced stakes in Bitcoin and Ethereum-related assets. Altcoins such as RBN, Aevo, and STX also contributed to this impressive performance.

During the same period, Bitcoin saw a 67% increase, reaching a peak of $73,798 by mid-March before experiencing a slight decline. In contrast, Solana’s value nearly doubled, with prices for Bitcoin and Solana recorded at $67,540 and $174, respectively, at last check on Saturday, April 6.

Pantera Capital primarily focused on Bitcoin investments until January. However, anticipating a wider bull market, the fund gradually decreased its Bitcoin position monthly and diversified its portfolio with other popular tokens. The fund also reduced investments in Ethereum-based tokens, influenced by challenges including diminished expectations for U.S. approval of spot-Ether exchange-traded funds (ETFs).

With $5.2 billion under management, Pantera Capital has been an active player in the cryptocurrency market since 2013, offering various investment products. Recently, the firm acquired a significant portion of FTX’s $1.9 billion worth of Solana holdings at a discounted price.

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