According to Fortune, Zaheer Ebtikar, founder of the crypto hedge fund Split Capital, announced the closure of the fund and officially joined stablecoin startup Plasma as Chief Strategy Officer. Ebtikar stated that the fund’s closure was not due to poor performance, but rather because he believes the crypto hedge fund business model is no longer viable. He noted that digital asset ETFs launched by traditional financial institutions such as BlackRock and Fidelity have enabled institutional investors to gain direct exposure to crypto assets through compliant channels, significantly reducing demand for crypto hedge funds. Meanwhile, the crypto venture capital sector has also experienced a "massive purge," with the prices of major cryptocurrencies like Bitcoin and Ethereum down nearly 50% from their 2025 all-time highs.
Split Capital Shuts Down, Founder Joins Plasma as Chief Strategy Officer
TechFlowShare
Summary
Split Capital has ceased operations, with founder Zaheer Ebtikar joining Plasma as Chief Strategy Officer. Ebtikar said the move reflects a shift in crypto investment strategy, as digital asset ETFs from BlackRock and Fidelity have attracted institutional capital. He added that capital protection and regulatory clarity now favor traditional investment vehicles over hedge funds. The crypto venture capital sector has also experienced significant losses, with Bitcoin and Ethereum down nearly 50% from their 2025 peaks.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.