Investment firm Pantera Capital has announced that it is working on creating a new cryptocurrency fund aimed at institutional investors.
Pantera Capital already manages several funds. Earlier, the company's management reported that in 2020, the fund's profit from investing in bitcoin increased by 218%, and the fund from investing in various crypto assets by 224%. The ICO investment fund turned out to be the most profitable - its growth was 362%. The founder of Pantera Capital, Dan Morehead, said that the new fund will be launched in the next few months. This was supported by the emergence of new "Wall Street players" in the cryptocurrency market.
Morehead mentioned investment firm SkyBridge Capital, which invested $182 million in bitcoin last month and has filed with the U.S. Securities and Exchange Commission (SEC) to register a fund for bitcoin. Union Square Ventures is also launching a new $250 million cryptocurrency fund in which it plans to invest about 30% of its funds. Insurance giant Mass Mutual is also known to have invested $100 million in bitcoin. Morehead said Pantera Capital's new fund will target institutional investors with a diversified investment portfolio.