Key Takeaways:
Zaheer Ebtikar, the founder of crypto hedge fund Split Capital, announced on April 7, 2026, that he is closing the fund to join stablecoin settlement startup Plasma as chief strategy officer. The move follows nearly two years of operation where the fund returned over 100% to its investors.
"After an amazing run, it's time for a new chapter," Ebtikar said in a statement. "The opportunities in the stablecoin and settlement space are too significant to ignore, and I am thrilled to bring my experience to the innovative team at Plasma."
Ebtikar confirmed the return of an eight-figure sum of capital to the fund's external investors. Split Capital, which operated between 2024 and 2025, carved a niche with its successful performance even as the broader crypto market faced volatility. The fund's closure by a successful manager to join a foundational infrastructure project highlights a growing trend of talent migration from speculative trading to building core financial plumbing for the digital asset economy.
The transition underscores a potential strategic shift within the crypto industry. While the return of capital could modestly increase market liquidity, the more significant impact is the signal it sends to the market. Ebtikar's move could attract new investment and talent to the stablecoin settlement sector, intensifying competition and accelerating innovation in how value is transferred on-chain. The development positions Plasma as a key player to watch in the evolving landscape of crypto-native financial services.
This article is for informational purposes only and does not constitute investment advice.
