Crypto Hedge Fund Pantera Close to Raising $175 Million

During the last couple of months, the cryptocurrency market has been filled with volatility, in a constant battle between bears and bulls. Despite the recent fall in bitcoin price, recent reports indicate that the crypto hedge fund Pantera is on track to raising a total of $175 million, for its third, yet also largest fund yet.

In an effort to encourage investment in the cryptocurrency market, the hedge fund is attracting investors who are in for the long-run, and who consider that the latest price dip is nothing but a buying opportunity. Reports indicate that this fund will not only focus on crypto, but also on the nascent blockchain technology.

A Securities Exchange Commission disclosure filed a few days ago showcases that Pantera has already raised a minimum of $71 million, whereas fund executives have stated that the total is in the $100 million range.

According to available data, this fund has attracted 140 investors so far, on a long-term 10-year investment period. By choosing Pantera, investors are also buying equity in a blockchain company, rather than simply investing in a coin. Many believe that this would be theoretically safer, granted that investors don’t have to deal with the on-going volatility.  Additionally, the booming ICO and blockchain start-up market will likely offer safer opportunities, and similar returns for backers.

So far, Pantera has already made its first investment, into a start-up named Bakkt, backed by companies such as Microsoft, Starbucks and the Intercontinental Exchange. No further information on what investment strategies the new fund will adopt are available at this time.

However, granted the sum that has been raised, it is highly-likely for the crypto hedge fund to reach is $175 million goal.