The venture firm Pantera Capital, led by Dan Morehead, announced the launch of a bitcoin fund aimed at institutional investors. The Block reports.
The move comes amid growing demand for the digital asset.
“We have been inundated with calls from [simple_tooltip content=’nonprofit endowment funds’]endowments[/simple_tooltip] and other institutional investors,” Morehead said.
The head of the firm said the vehicle would launch in the coming months. It will be the third after Pantera Bitcoin Fund and the ICO Fund.
In 2020, the firm’s flagship bitcoin fund rose by 299%, and over seven years — surpassed 15,000%.
The Pantera Capital ICO Fund delivered a 500% return.
Earlier, MassMutual—the oldest insurance company in the United States—invested in bitcoin $100 million. Endowments purchased the first cryptocurrency at Harvard, Yale, Brown, and the University of Michigan.
Earlier in January 2021, investment firm SkyBridge Capital, led by Anthony Scaramucci, launched a bitcoin fund with assets $310 million.
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