Abraxas Capital Nets $77.9M Profit from Bitcoin Short Positions

2025-10-21 11:31

Abraxas Capital has partially closed its Bitcoin short positions, securing a profit of $77.9 million. The firm reduced the notional value of its shorts by $17.7 million across two addresses, while still holding $232 million in short positions. The total notional value of their Bitcoin shorts stands at $620 million. The firm also reports $38.2 million in unrealized gains. The main address targets major cryptocurrencies, whereas a sub-address diversifies into altcoins to enhance returns. Out of 24 positions, only the Ethereum short in the main address is currently at a loss.

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