In an episode of The Scoop, Dan Morehead, CEO at Pantera Capital, confirmed the company is in the works to launch a new fund. The company currently runs over $1 billion of assets for its customers and is focusing on adding new institutional investment through the new fund, Morehead further said.

Across 2020, institutional funding has spiked in the crypto market, adding an unprecedented $4 billion into Bitcoin hedge funds, during the year. Pantera aims to continue riding on this customer demand wave by targeting heavyweight institutional investors for its new “crypto-focused fund,” which is expected to launch next month.

According to Dan, there has been an influx of institutional investors getting on the crypto act in the past year as Bitcoin spiked to an all-time high price of $42,000. The new fund will offer institutional investors a diversified class of assets rather than a single-asset fund such as Grayscale’s Bitcoin Trust.

“We’re really seeing an inflection point with more coming into the market over the last couple of months,” Morehead said. “We’ve had a ton of inbound calls from endowments and others that are trying to get exposure to the space.”

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