Data Insights: What Are the Largest Holdings of Top Crypto VCs?

2023.04.21

Data Insights: What Are the Largest Holdings of Top Crypto VCs?

This article will introduce several top-tier VC funds and their recent positions in the cryptocurrency market.

2023.04.21 - 07:20:46

Navigating Web3 tides with focused insights

This article will introduce several top-tier VC funds and their recent positions in the cryptocurrency market.

Written by: Thor Hartvigsen

Compiled by: TechFlow

Venture capital investment in the cryptocurrency market has surged significantly, with more and more investors entering this space. In this context, understanding major VC funds and their positions and valuations within the crypto market is crucial. This article will introduce several top-tier VC funds and their recent positions in the cryptocurrency market.

Jump Crypto

On-chain valuation: $3.675 billion:

• $3.9 billion in ETH;

(TechFlow note: The original post likely contains a typo regarding ETH valuation—it should be around $3.4 billion. Combined with other token valuations listed below, the total aligns closely to approximately $3.6 billion.)

• $55.75 million in SHIB;

• $21.5 million in LDO;

• $18.5 million in MATIC;

• $15 million in AVAX;

• $11.7 million in PENDLE.

Other holdings ($1 million–$5 million): JOE, AAVE, LINK, UNI. Jump is a market maker that profits by providing liquidity across various exchanges.

Paradigm

On-chain valuation: $358 million:

• $195 million in ETH;

• $163 million in LDO.

Paradigm previously held $10.5 million worth of MKR but appears to have sold it on March 16th this year. Paradigm is the largest holder of LDO, holding 70 million tokens in their wallet.

According to Token Terminal, they are about to complete a financing round for 100 million LDO, which would mean they will hold LDO tokens valued at $225 million (over 10% of the circulating supply).

Genesis Trading

On-chain valuation: $300 million:

• $252 million in ETH;

• $5 million in COMP;

• $4 million in APE;

• $4 million in MANA;

• $4 million in GRT;

• $4 million in SAND;

• $3 million in CRV.

Genesis filed for bankruptcy in January and may be forced to sell off the listed assets in the future.

a16z

On-chain valuation: $241 million:

• $225 million in UNI;

• $13 million in COMP;

• $3 million in MKR.

a16z holds over 4% of the UNI supply, granting them sufficient governance power to single-handedly reject proposals.

Wintermute

On-chain valuation: $230 million:

• $54 million in ARB;

• $47 million in OP;

• $32 million in DYDX;

• $17 million in ETH;

• $10 million in wBTC;

• $8.5 million in HFT;

• $7 million in LDO;

• $5 million in FTM.

Wintermute is also a market maker and is collaborating with the Arbitrum and Optimism teams. They managed over $4 billion in assets in 2021.

DragonFly Capital

On-chain valuation: $155 million:

• $46 million in LDO;

• $45 million in stablecoins;

• $26 million in ETH;

• $23 million in BGB;

• $7 million in FXS;

• $6.7 million in RBN (of which $1.7 million is still unlocking);

• $1.5 million in DYDX.

Smaller positions include COMP, RNDR, and MATIC. DragonFly is one of the key investors in Lido but has already sold approximately $15 million worth of LDO in March/April.

The fund has also recently sold $10 million worth of MATIC and $6 million worth of AAVE.