"Ebtikar framed the wind-down as a response to structural shifts in the broader crypto industry, arguing that the hedge fund model no longer makes sense as the sector matures."
"The fund is not closing because of poor performance; virtually every investor turned a profit, with net returns exceeding 100% since inception."
"Ebtikar launched Split Capital during one of crypto's slowest periods, operating on the thesis that venture capital would flow toward undervalued liquid tokens."
"The only real question is: what does the future look like and where is the value? The industry no longer rewards traders chasing momentum."
Zaheer Ebtikar has closed Split Capital, the crypto hedge fund he founded in January 2024, after achieving over 100% net returns. He cited $100 billion in venture funding and the emergence of spot ETFs as reasons for the hedge fund model's obsolescence. Ebtikar will now serve as Chief Strategy Officer at Plasma, focusing on the launch of the Plasma One stablecoin neobank app in 2026. The decision reflects a strategic pivot in response to the evolving landscape of the crypto industry.
Read at news.bitcoin.com
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