Crypto hedge fund Split Capital liquidated; founder becomes executive at stablecoin company Plasma.

CoinFeed reported on April 7th that, according to Fortune, crypto hedge fund Split Capital has returned funds to external investors, and founder Zaheer Ebtikar has announced his joining stablecoin startup Plasma as Chief Strategy Officer. Ebtikar stated that the fund achieved approximately 100% returns in 2024 and approximately 20% in 2025, and its assets under management once reached "eight figures" in US dollars. However, he believes the crypto hedge fund model is unsustainable, partly because large institutions can directly gain exposure through crypto ETFs issued by companies like BlackRock and Fidelity. Split Capital will operate on a small scale with only its own capital going forward.