Crypto Hedge Funds Gear Up for ‘Token Mania’ After 2023 Rebound
- Reversal of fortunes for an industry left reeling in 2022
- Approval of first-ever spot Bitcoin ETF seen offering boost
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Crypto hedge funds that survived a bruising 2022 are recovering, and many are thriving. Some are even expecting a banner 2024.
Take Dan Morehead’s Pantera Capital, one of the industry’s oldest and biggest funds. The firm’s liquid-token fund was up nearly 80% this year as of mid-December, after falling 80% in 2022, according to a person familiar with the performance. Chainview Capital, the crypto hedge fund run by 31-year-old Dan Slavin, has doubled after an 18% decline last year, Slavin said.