Split Capital Founder Says Crypto Hedge Funds No Longer Work

Split Capital, a digital asset hedge fund founded by Zaheer Ebtikar, is ceasing operations despite being profitable. Ebtikar announced the decision, stating that the crypto market has evolved beyond the strategies that traditional hedge funds are designed to exploit. He believes the hedge fund model is not sustainable in the long term for crypto. Ebtikar's move comes as crypto hedge funds face increasing market challenges. He argues that the industry has matured from momentum-driven trading to a focus on future value and innovation. Ebtikar is joining Peter Thiel-backed stablecoin startup Plasma as Chief Strategy Officer, where he will focus on partnerships, growth, and engaging with investors and policymakers. He sees this as a transition towards building global financial systems within crypto.

(Source：Cointelegraph)