BlockBeats reported on April 7 that the cryptocurrency hedge fund Split Capital has dissolved, and its founder Zaheer Ebtikar has joined the stablecoin startup Plasma as an executive.

Ebtikar's decision to close Split Capital was not due to poor performance. The founder stated that his returns for 2024 and 2025 were approximately 100% and 20%, respectively. Instead, he believes that crypto hedge funds are no longer a viable business. 'The entire crypto hedge fund industry has basically fallen out of favor.'

By the end of 2025, Split Capital returned funds to its investors. Previous supporters of the fund include the venture capital firm Novi Loren and the digital asset company UTXO Management. Although Ebtikar refused to disclose the specific amount managed by his company, he stated that the assets under management are at an 'eight-digit' level. The fund will continue to operate on a smaller scale, using only its own funds.