23-09-2026: Smart Money Holdings Fund Filter Deprecation

On September 9, 2026, Fund wallets stopped being part of the upstream Smart Money cohort used by POST /api/v1/smart-money/holdings. As a result, current unfiltered holdings totals can be substantially lower than before the cohort change. For Ethereum, the reported comparison changed from 668 tokens, approximately $1.54B in value, and 2,507 holders on September 8 to 384 tokens, approximately $23M, and 936 holders on September 9.

The Fund filter value is therefore deprecated for this endpoint. include_smart_money_labels: ["Fund"] is still accepted temporarily but returns no rows. exclude_smart_money_labels: ["Fund"] is also accepted temporarily but has no effect. Stop using Fund in either filter. We may begin rejecting it after December 22, 2026.

This deprecation applies to the current Smart Money holdings endpoint. Historical holdings snapshots from before the cohort change can still contain Fund-labelled wallets. The behavior of Fund on other current-data operations is endpoint-specific.