Dan Morehead, founder and CEO of Pantera Capital, reportedly stated the hedge fund was planning to lift $1.25 billion for a second blockchain fund.

In response to a Sept. 28 Bloomberg report, Morehead said Pantera aimed to shut the blockchain fund by Might. The fund will reportedly spend money on digital tokens and fairness in an effort to enchantment to institutional traders.

“We need to present liquidity for those who are form of giving up as a result of we’re nonetheless very bullish for the following 10 or 20 years,” stated the Pantera CEO, in response to the report.

Pantera Capital is looking for $1.25 billion for its second blockchain fund, founder Dan Morehead says https://t.co/H5AXy55hqa

— Bloomberg Crypto (@crypto) September 28, 2022

Launched in 2013, Pantera was one of many first crypto funds in america at a time when the value of Bitcoin (BTC) was largely below $100. Morehead stated in a 2019 interview that BTC had the potential to achieve $356,000 by 2022. Pantera has since grown to have $4.5 billion in belongings below administration, in response to its web site.

Pantera CEO bullish on DeFi, Web3 and NFTs as Token2049 will get underway

Ought to the reported second blockchain fund shut as deliberate, it will observe Pantera’s launch of its first blockchain fund in Might 2021, focused at $600 million. Cointelegraph reported in April that the hedge fund was set to shut the fund backed by roughly $1.3 billion — double its goal. Pantera additionally supplied a liquid token fund, an early-stage token fund, a BTC fund and enterprise funds with “publicity to firms constructing services within the nascent blockchain ecosystem.”