- Pantera Capital looks to target new institutional investors with its new crypto fund.
- Wall Street players are also investing in Bitcoin.
- University endowments funds have also been investing in cryptocurrencies silently.
Top crypto fund manager, Pantera Capital, is looking to launch a new fund soon. This was announced by its CEO, Dan Morehead, in an interview on The Scoop.
According to Morehead, the new crypto fund would be targeted at institutional investors who he claims have been calling his firm to expose them to the crypto industry. He noted that these institutions were “endowments and others.”
Pantera Capital’s new crypto fund would target institutional investors
Morehead also admits that the crypto space has recently witnessed more institutional investors in the crypto space. The institutional investors’ entrance has been identified as one of the significant reasons Bitcoin went on a bull run from late last year into this year’s early period. During this period, the value of BTC got to an all-time high of $42,000.
Pantera Capital is one of the leading crypto fund managers with over $1 billion in assets. The firm already has an active Bitcoin fund in operation plus an initial coin offering fund. Both funds have recorded massive success, with the latter generating a 500% return while that of the former stands very close to 300%.
Its new fund would seek to offer its investors a diversified investment base. This means that unlike Grayscale’s Bitcoin Trust, Pantera Capital would look to help its investors invest in varying crypto assets like Ethereum, Bitcoin Cash, and others.
Wall Street players are also entering the fray
Available reports have shown that Wall Street players have also begun entering into the crypto market. SkyBridge Capital, a hedge fund founded by Anthony Scaramucci, a former communication director of the White House, has been actively looking to get more investors for its new Bitcoin fund.
According to an earlier report by Cryptopolitan, it was reported that the firm had cited the increased numbers of institutional investors in BTC as why it set up its fund. The firm currently has about $9 billion in assets under management.
Other institutions like Union Square Ventures would be investing close to 30% of its $250 million in the crypto industry. Not only that, but top university endowments funds are also buying crypto assets, reportedly.