Large crypto funds don’t just play crypto — they shape it. Their portfolios are a kind of “vote of confidence” for certain projects, and their actions can launch a parabola or plunge an alt into the abyss. Let’s take a look at which altcoins the largest funds currently hold and why they do it.
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Grayscale: old-timers with a love for the classics
Grayscale is a fund that is always on the front pages. Although the lion's share of their assets is in Bitcoin and Ether, in 2024 they added Solana (SOL), Polygon ($POL ), and Chainlink (LINK) to their portfolio.
Solana is the “blockchain of the future” with incredible speed. And while Solana has survived the FTX facap, Grayscale believes in its long-term potential.
Polygon is about Ethereum scalability. Grayscale sees POL as a key tool for institutional investors.
Chainlink is the leader among oracles. If DeFi survives even a little bit into the next decade, LINK will remain indispensable.
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Pantera Capital: Hype and Innovation
Pantera loves risky investments in trending alts. Their portfolio consistently includes:
Avalanche (AVAX) is a blockchain seen as a competitor to Ethereum. Pantera has invested millions because speed and low fees are what attract developers and DeFi projects.
Optimism (OP) is an Ethereum scaling solution. Pantera is actively buying OP because it believes that L2 protocols are the next stage of the crypto revolution.
Aptos ($APT ) is a newbie with wild hype and millions from Pantera. It's called "Solana 2.0" and it's a good ticket to the future.
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Andreessen Horowitz (a16z): Cryptocurrency and Web3
a16z loves investing in Web3 and supporting blockchains that offer new functionality. Their favorites are:
Flow (FLOW) is an NFT platform. Andreessen Horowitz is betting on FLOW through partnerships with major brands (NBA, UFC).
StarkNet ($STRK ) is another L2 for Ethereum. a16z is actively promoting this project as a key one for DeFi and NFTs.
Arweave (AR) is a blockchain for data storage. Web3 funds love AR for its promise of a decentralized “eternal archive.”
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Coinbase Ventures: leader among CEX funds
Coinbase doesn't just trade crypto, it also invests in promising projects. Among their favorites:
The Graph (GRT) is the “Google for blockchains.” Coinbase Ventures believes in GRT as a foundational tool for developers.
dYdX (DYDX) is a decentralized exchange that can compete with centralized platforms.
Immutable X (IMX) is an L2 platform for NFTs. Coinbase is backing IMX because of its blockchain gaming potential.
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Multicoin Capital: betting on Solana and more
Multicoin, who adore Solana, also add the following to the portfolio:
Helium (HNT) is a decentralized network for IoT devices. Multicoin believes it is the perfect combination of Web3 and the real world.
Serum (SRM) is another Solana-based project that promises to revolutionize decentralized finance.
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Conclusion
Large funds play crypto strategically. They don’t just follow trends, they create them. But let’s be honest: their choice isn’t always a long-term belief. If an altcoin looks profitable for a “pump and dump,” the funds won’t stop. But whether we’ll be able to get in before they get out is a completely different question.
