The venture firm Pantera Capital, led by Dan Morehead, announced the launch of a bitcoin fund aimed at institutional investors. The Block reports.<\/p>\n
<\/p>\n
The move comes amid growing demand for the digital asset.<\/p>\n
\n\u201cWe have been inundated with calls from [simple_tooltip content=’nonprofit endowment funds’]endowments[\/simple_tooltip] and other institutional investors,\u201d Morehead said.<\/p>\n<\/blockquote>\n
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.<\/p>\n
In 2020, the firm’s flagship bitcoin fund rose by 299%, and over seven years \u2014 surpassed 15,000%<\/a>.<\/p>\n
The Pantera Capital ICO Fund delivered a 500%<\/a> return.<\/p>\n
Earlier, MassMutual\u2014the oldest insurance company in the United States\u2014invested in bitcoin $100 million<\/a>. Endowments purchased<\/a> the first cryptocurrency at Harvard, Yale, Brown, and the University of Michigan.<\/p>\n
Earlier in January 2021, investment firm SkyBridge Capital, led by Anthony Scaramucci, launched a bitcoin fund with assets $310 million<\/a>.<\/p>\n
Subscribe to ForkLog news on Telegram: ForkLog FEED<\/a> \u2014 the full feed of news, ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"
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