Trend Research is reported to have nearly completed the liquidation of its Ethereum positions on Feb. 7, recording an estimated net loss of about $734 million on ETH after a period of sharp market volatility.
Earlier, the fund had posted roughly $315 million in profit by going long around 231,000 ETH at an average price of $2,667 and exiting near $4,027. However, a larger subsequent long position — about 651,500 ETH with an average entry of $3,180 — was forced to close around $2,053 as the market dropped, wiping out most of the earlier gains.
Despite the heavy losses on ETH, some industry sources say Trend Research is not net negative across its overall portfolio, as it still recorded significant profits from other digital assets, notably WLFI and FORM.$USDC
USDC
1.0006
+0.01%
ETH
2,053.41
+7.59%
XRP
1.4068
+3.75%