THELOGICALINDIAN - United Statesbased bitcoin advance close Pantera Capital has filed with the US Securities and Exchanges Commission SEC for an Initial Coin Offering ICO hedgefund
Also Read: SEC Eyes Initial Coin Offerings for Regulatory Oversight
If Successful, Pantera ICO Fund LP Will Be the World’s First ICO Hedgefund
Pantera Capital is acquisitive to become the aboriginal bitcoin advance close to action an ICO hedgefund. The Pantera ICO Fund LP affairs to action investors a adapted and third-party managed agency to brainstorm on accessible antecedent bread offerings, claiming to abate abundant of the accident associated with advance in pre-market cryptocurrency projects.
Pantera Capital was formed in 2013, absolute the aboriginal US-based bitcoin advance firm. The aggregation has invested in abundant cryptocurrency heavyweights, including blockchain-based remittance account Abra, arch South Korean bitcoin barter Korbit, and altcoins Ripple and Zcash. Pantera CEO Dan Morehead and Auger co-founder Joey Krug will be arch advance admiral for the fund, with Krug now abutting Pantera Capital as a full-time employee.
In a contempo account with Techcrunch, Joey Klug, Dan Morehead, and Pantera Capital accomplice Paul Veradittakit articulate their intentions for the ICO barrier fund. The ICO hedgefund will accept a alternative for advance in “protocols area the badge is basic to the activity of the account itself… area tokens are the alone acknowledgment to the network.” Ideally Pantera will advance in projects area the development aggregation has acquaintance with “buil[ding] an accessible antecedent association on a ample scale”, with the armamentarium planning to authority tokens for amid ten and twenty projects at any one time. Pantera are additionally planning on accepting absolute assurance with the projects that they advance in, with Paul Veradittaki advertence that “[Pantera will] advice accommodate the appropriate connections, whether in agreement of business or recruiting or business development.” Area possible, the armamentarium hopes to be the better actor in the projects it invests in.
Dan Morehead suspects that ICOs may appear to abandon acceptable VC firms, anecdotic such as the arch action abaft Pantera’s ICO fund. “In [2025’s] additional quarter, ICO arising was greater than adventure capital, with $210 actor [invested in ICOs] against $180 actor [invested into startups by VC firms. We do apprehend that alteration to continue.”
Pantera’s Filing With the SEC Comes Before a Clear Regulatory Apparatus Has Been Developed for Initial Coin Offerings
The armamentarium will be accessible to clandestine and institutional US-based investors, alms a agency for abounding adventure basic firms to participate in the ICO markets that are contrarily clumsy to anon advance in cryptocurrency projects due to aggregation policies. The aggregation affairs to accessible up to non-US investors in the future.
Pantera’s filing with the SEC comes afore a bright authoritative accoutrement has been developed for antecedent bread offerings. Recent controversies surrounding accurate cryptocurrency pre-sales accept been bidding experts to anticipation the authoritativeness of a authoritative crackdown on ICOs. Recent letters accept apparent that the SEC is actively attractive at ICOs, citation a abridgement of accuracy and blank as areas of concern. Despite such, Dan Morehead and Pantera Capital are assured that Pantera ICO Fund LP will be able to calmly acclimate to approaching regulations. “All these new currencies are forth a spectrum and accept assorted attributes, and assorted authoritative bodies about the world, including the CFTC and the IRS, accept taken bright stances on them already. Other agencies haven’t disqualified on them, but I anticipate it’ll be the aforementioned with badge sales, area there will be a aeon of time area they amount out how they fit into absolute regimes or whether new regimes are bare to adapt badge sales.”
The close is currently in the action of a $100 actor fundraising attack for the venture, accepting already auspiciously anchored over $25 million.
Do you anticipate that Pantera’s ICO hedgefund will accept absolute implications for the cryptocurrency economy? Share your thoughts in the comments area below!
Images address of Shutterstock and Pantera Capital
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