Key Takeaways
- • Pantera Capital's Digital Asset Fund gained 46 percent in April 2018, outperforming bitcoin's 31 percent gain over the same month, according to an investor letter Pantera sent on Wednesday, May 9, 2018.
- • Pantera attributed the fund's performance to "dynamic trading" across a basket of virtual currencies rather than to bitcoin exposure alone.
- • The Digital Asset Fund was launched in November 2017, making April 2018 one of its first months of reported performance.
Summary
Pantera Capital's Digital Asset Fund, a crypto hedge fund launched in November 2017, surged 46 percent in April 2018, according to an investor letter the firm released on Wednesday and reported by Bloomberg. The gain exceeded the 31 percent rise registered by bitcoin, the largest digital coin, over the same month.
The fund holds a number of different virtual currencies rather than bitcoin alone. In the letter, Pantera credited the strong April result to "dynamic trading," its term for active position management across the portfolio. The letter did not provide further detail on specific holdings or trades in the source material.
The comparison highlights the performance gap between a diversified, actively traded crypto portfolio and a single-asset benchmark during a month of strong bitcoin gains. Because the fund has only been operating since November, its track record remains short, and the April figures represent a single month of results.
The fund holds a number of different virtual currencies rather than bitcoin alone. In the letter, Pantera credited the strong April result to "dynamic trading," its term for active position management across the portfolio. The letter did not provide further detail on specific holdings or trades in the source material.
The comparison highlights the performance gap between a diversified, actively traded crypto portfolio and a single-asset benchmark during a month of strong bitcoin gains. Because the fund has only been operating since November, its track record remains short, and the April figures represent a single month of results.
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