• Thor Hartvigsen has used DeFi analytics tools to examine the altcoin holdings of 20 crypto funds.
• Jump Trading is identified as the largest crypto VC, holding a total balance of $3.8 billion, with Ethereum being its largest altcoin by far.
• Wintermute holds a majority of Ethereum ($301 million in wETH) and recently sold about $4 million worth of VC Ape.
Data-Driven DeFi Researcher Examines Altcoin Holdings
Thor Hartvigsen, a data-driven DeFi researcher based in Copenhagen has used the on-chain analysis tools of Watchers, Nansen, DeBank and Arkham to examine the altcoin holdings of the 20 largest crypto funds. Together, these have a total of over 1,200 wallets. In a thread on Twitter, Hartvigsen presents the eight largest VCs, their largest crypto holdings and recent investments.
Altcoins Indicate Strong Investments
As the analyst points out, altcoin holdings can generally be considered an indication of strong investments. However, there is also no guarantee that VCs are “smart money,” since “they often act completely reckless.”
Jump Trading Identified As Largest Crypto VC
Hartvigsen identifies Jump Trading as the largest crypto VC. The company has a total balance of $3.8 billion, with the largest altcoin in the portfolio by far being Ethereum with $3.25 billion. Following behind are Shiba Inu ($328 million), MATIC ($81 million), USDC ($50 million), wBTC ($50 million), LINK ($20 million), and COMP ($14 million). Smaller positions between $1 million and $10 million include: HFT, AVAX, SNX, CHZ, MASK, AAVE and Lido Finance (LDO).
Wintermute Identified As Second Largest Crypto VC
The second largest crypto VC is Wintermute with a total balance of $401 million. This VC also holds a majority in Ethereum ($301 million in wETH). That position is followed by $47 million in OP ,$22 . 2millioninLDO ,$17millionETH ,$7 . 5millionGALA (thelargestincreasethismonth) ,$7 . 3millionFTM ,$6 . 6millionDYDX ,$6millioninBLUR ,$5 . 7millioninHFTand$5 . 1millioninMATIC . Wintermute made its largest sale in recent history in February when it sold about $4 million worthofVCApe .
Conclusion
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