Overview
- Zaheer Ebtikar, who on Tuesday became Plasma’s chief strategy officer, is shifting from running a hedge fund to building a stablecoin platform.
- Split Capital returned outside investors’ money in late 2025 and now trades only the firm’s own capital.
- Ebtikar said the fund gained about 100% in 2024 and 20% in 2025, with assets under management in the eight figures.
- He argued that crypto hedge funds lost their edge as exchange-traded products from firms like BlackRock and Fidelity let institutions buy exposure without holding tokens.
- At Plasma, he will lead partnerships, investor relations, and product input as the company readies a consumer app that uses dollar‑pegged coins, with one outlet also reporting unverified funding and a planned Plasma One rollout.