Crypto markets struggled throughout December, but a small group of institutional investors managed to close the year in the black. New on-chain data from analytics platform Nansen shows that while prices remained under pressure, several major crypto funds generated millions in realized gains, only to pivot toward aggressive selling as the month progressed. Elite Funds Secure Top Gains Amid Market Downturn According to Nansen, market maker Wintermute emerged as the most profitable fund in December, recording approximately $3. 17 million in realized profit
source: https://beincrypto.com/crypto-funds-december-2025-profits/