Digital asset manager Pantera Capital has shifted the focus of its Liquid Token Fund from Bitcoin and Ethereum to altcoins in an attempt to "avoid further drawdowns," The Block has reported.
This is reportedly the first time since the spring the fund has changed the assets in which it invests. The fund currently spreads its funds between 15-25 altcoins.
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Joey Krug, co-CEO of the firm, has said some coins "will outperform ETH over the coming cycle."
The structure has brought investors a 47% return since the beginning of the year, while the drop was 80% over the past year.
Dan Morehead, the firm's chief executive, has linked FTX's collapse to its unregulated status, while Paul Veradittakit, a partner at Pantera, said in November FTX's bankruptcy had had little impact on the firm's business.