Abraxas Capital Has Deposited Nearly $1 Billion Worth Of $Btc Into Kraken

The Alpha Bitcoin Fund managed by Abraxas Capital has moved another 1,993 $BTC, worth approximately $148.32 million, into @Kraken, according to on-chain analytics platform Lookonchain.

The latest transfer brings the fund's total deposits to the exchange to $691 million since mid-March, a significant volume of movement that has drawn attention across crypto markets.

Despite the scale of these outflows, Abraxas Capital's Alpha Bitcoin Fund retains a substantial position, still holding 20,337 $BTC valued at roughly $1.51 billion, suggesting the deposits represent portfolio management activity rather than a full exit from the asset.

The reasons behind the transfers have not been publicly disclosed by Abraxas Capital. Large movements of this kind to centralised exchanges are often associated with potential selling activity, though they can also reflect custody arrangements or operational rebalancing.