According to PANews, Pantera Capital's Liquid Token Fund, which manages approximately $300 million in assets, reported a 66% return in the first quarter. The impressive performance was primarily driven by tokens such as Solana (SOL). In addition, the fund significantly reduced its exposure to Bitcoin and Ethereum tokens.
The information was disclosed in a letter to shareholders by Pantera Capital. Besides Solana, the rise in digital assets such as RBN, Aevo, and STX also contributed to the fund's first-quarter performance. Furthermore, considering factors such as the reduced likelihood of the United States approving a spot ETH ETF, the fund decreased its investment in tokens related to the Ethereum blockchain.
In an interview, fund manager Cosmo Jiang stated that the Liquid Token Fund's Bitcoin holdings had dropped by more than half over the past three months. 'We had a heavy layout on Bitcoin at the beginning of the year, but we have significantly reduced our Bitcoin position every month since then,' Jiang said.