Reports say that Pantera wants to raise $1.25 billion for its second blockchain fund.

Pantera Capital’s founder and CEO, Dan Morehead, is said to have said that the hedge fund planned to raise $1.25 billion for a second blockchain fund.

Bloomberg reported on September 28 that Morehead said Pantera wanted to close the blockchain fund by May. The fund is said to invest in digital tokens and stocks in order to attract institutional investors.

According to the report, the CEO of Pantera said, “We want to give liquidity to people who are kind of giving up because we’re still very bullish for the next 10 or 20 years.”

Dan Morehead, the founder of Pantera Capital, says that the company wants to raise $1.25 billion for its second blockchain fund.

Pantera was one of the first crypto funds in the United States. It started in 2013, when Bitcoin (BTC) was mostly worth less than $100. In an interview in 2019, Morehead said that the price of BTC could reach $356,000 by 2022. Pantera has grown since then, and its website says that it now has $4.5 billion in assets under management.

Related: Reports say that FTX is thinking about using an asset bid to save Celsius.

If the second blockchain fund closes as planned, it would follow Pantera’s launch of its first blockchain fund in May 2021, which aimed to raise $600 million. Asian Trade said in April that the hedge fund was going to close with about $1.3 billion in the fund, which was double its goal. Pantera also had a liquid token fund, an early-stage token fund, a BTC fund, and venture funds with “exposure to companies building products and services in the young blockchain ecosystem.”

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