Pantera Capital's Liquid Token Fund achieved a remarkable 66% return in the first quarter of 2024, fueled by investments in tokens like Solana (CRYPTO:SOL), Ribbon Finance (CRYPTO:RBN), and Stacks (CRYPTO:STX).

The fund reduced exposure to Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH) during this period while increasing allocations to DeFi tokens.

Portfolio manager Cosmo Jiang noted a significant decrease in Bitcoin holdings since the beginning of the year, indicating a strategic shift in investment focus.

Pantera Capital, a leading asset manager in the crypto space, recently raised $250 million to purchase SOL tokens from FTX (CRYPTO:FTT), capitalising on the token's market dominance and institutional investor interest.