Menu IconA vertical pantera bitcoin of three evenly spaced horizontal lines. Pantera Capital made a big comeback in April, thanks to a boom in the crypto markets.
Pantera Capital, one of the largest cryptocurrency hedge funds, made a big comeback in April, according to documents reviewed by Business Insider. The firm’s Digital Asset Fund gained 46. April, riding a bullish surge across the market for digital currencies. That’s a big turn around for the fund, which was down 45. It started to picked up steam near mid-April around Tax Day in the US. 1 billion, said in an investor letter dated April 11 that the deadline for filing taxes in the US was behind’s March selling.
I could imagine that a portion of the selling pressure on the market in general has been unintended tax positions,” the letter said. Notably, Fundstrat’s Tom Lee predicted in a note to clients at the beginning of April that selling pressure would alleviate after Tax Day. Still, Pantera was outshined by at least two passive index funds. Bitwise HOLD 10 Private Index Fund was up 52. April, after fees, according to person familiar with the matter. And Hehmeyer Trading’s Cryptocurrency Index Fund ended April up 51.