Franklin Bi, general partner at Pantera Capital, said the approval of a spot bitcoin exchange-traded fund (ETF) in the U.S. this year provides important validation for the crypto industry. The crypto venture capital firm is raising a new $1.25 billion fund.
While Franklin Bi declined to comment specifically on Pantera Capital's new fund, he said in an interview with The Block that it is a timely opportunity for venture capital firms in general to raise new funding and position themselves to support emerging startups.
Franklin Bi said the approval of the spot bitcoin ETF is a significant validation of the crypto industry. He said the approval really shows that, in terms of direction, regulation is still moving in a positive direction for digital assets. This validation does strengthen the confidence of many institutional investors that this is a long-term technology trend and development cycle that they should be exposed to.
Pantera Capital Exec: Bitcoin Spot ETF Approval Means Cryptocurrency Has Been Significantly Validated
2024-05-05 13:52:05
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