BlockBeats message, April 7, according to Fortune, crypto hedge fund Split Capital has been dissolved, and its founder Zaheer Ebtikar has joined stablecoin startup Plasma as an executive.
Ebtikar decided to shut down Split Capital not because performance was poor. The founder said his returns in 2024 and 2025 were approximately 100% and 20%, respectively. Instead, he believes that crypto hedge funds are no longer a viable business. “The entire crypto hedge fund industry has basically run its course and bowed out.”
By the end of 2025, Split Capital will return funds to investors. Previous backers of the fund included venture fund Novi Loren and digital asset company UTXO Management. Although Ebtikar declined to disclose the specific amount managed by his firm, he said the assets under management are at the “eight-figure” level. The fund will continue to operate at a smaller scale, using only its own capital.
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