Crypto Hedge Fund Split Capital to Dissolve, Founder Joins Stablecoin Project Plasma as Executive

Odaily News Crypto hedge fund Split Capital has announced its dissolution and gradual wind-down. Its founder, Zaheer Ebtikar, disclosed that he has joined stablecoin startup Plasma as Chief Strategy Officer, shifting his focus to the stablecoin sector.

Zaheer Ebtikar stated that although the fund achieved returns of approximately 100% in 2024 and 20% in 2025, he believes the business model for crypto hedge funds is gradually becoming obsolete. With the launch of products like spot Bitcoin ETFs, institutional investors increasingly prefer gaining crypto asset exposure through traditional financial instruments, which erodes the competitive advantage of hedge funds. (Fortune)