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Pantera Capital Quietly Channels $300M Into Crypto Treasury Giants
In a recent development, prominent investment firm Pantera Capital has quietly invested over $300 million in digital asset treasury companies. This significant move by the company underscores its confidence in the potential of these firms to deliver higher returns than direct token holdings or exchange-traded funds.
Pantera Capital’s strategy focuses on the notion that digital asset treasuries can generate yield and grow net asset value per share, ultimately resulting in more underlying token ownership. This model offers a unique combination of yield generation and token appreciation potential, which sets it apart from traditional treasury management approaches.
Notably, Pantera Capital has also raised two separate funds dedicated to this strategy, collectively amounting to over $100 million. While the company has not disclosed individual fund sizes, Cosmo Jiang, a general partner at Pantera Capital, revealed that no decision has been made regarding the launch of a third such fund.
The firm’s portfolio comprises eight major cryptocurrencies, including Bitcoin, Ethereum, Solana, BNB, Toncoin, Hyperliquid, Sui, and Ethena. Investments have been made in publicly traded companies based in the United States, United Kingdom, and Israel.
Interestingly, Pantera Capital has taken a strong stance on Ethereum, predicting that it will be a decade-long trend driven by tokenization and stablecoin adoption. This view is supported by BitMine Immersion, one of its portfolio companies, which saw an astonishing 330% growth in ETH per share within the first month of operation.
A substantial portion of this impressive performance can be attributed to stock issuance above NAV (net asset value) and staking rewards. Furthermore, Pantera Capital attributes approximately 60% of BitMine’s rise to the growth of ETH per share itself, with an additional 20% accounted for by Ethereum’s price rally. The remaining 20% is due to a higher NAV multiple expanding to 1.7x during this period.
In conclusion, Pantera Capital’s $300 million investment in digital asset treasury giants highlights its commitment to the potential of these firms to drive growth and returns across various global markets.
Source: blockonomi.com
