Posted on

Ethereum: $100M Fund Goes Ten Years Long on ETH Amid Strong Fundamentals

New Fund Entirely Bullish on Ethereum

For some reason or another, Ethereum (Ether/ETH) has been underperforming Bitcoin since the start of the bull trend. While the lead cryptocurrency is down a relatively mere 60% from its all-time high, ETH is still down by over 75%, still wallowing in the doldrums of bear market territory. Despite this, the cryptocurrency has continued to gain traction.

According to a recent Bloomberg report, Darma Capital, a new $100 million investment fund, will first be focusing on Ethereum. In an interview, Andrew Keys, a pioneer of Ethereum developer and investor ConsenSys turned Darma managing member, revealed that his firm expects for ETH to rally over the next decade, stating that Darma is “ten years long”. He didn’t mention a specific price target, but a “fair valuation” for the digital asset in Keys’ eyes are likely much higher than today’s $250 valuation.

Keys didn’t say how much of the $100 million principal will be divested to Ethereum in particular, but the investor did accentuate that ETH is important because it acts as the “equivalent of the [decentralized] web”, which firms can build on. In some senses, Ether is like purchasing a stake in TCP/IP.

Darma is expected to soon create similar investment opportunities for other digital assets, namely Bitcoin and the to-be-launched Filecoin, which is one of the least-known yet most popular ICOs in crypto’s relatively short history.

ETH Adoption Growing

Darma’s stamp of approval comes as Ethereum has begun to gain widespread traction as a platform. Per previous reports from Ethereum World News, the network’s fundamentals are well on the rise. The ETH Gas Station revealed that the Ethereum network broke its “record for Total Daily Gas Used” last week, meaning that the chain is likely processing more data and contract executions than ever before.

This is notable, especially considering that ETH is still down over 70% from its all-time high of $1,400, which came at the peak of cryptomania in early-2018.

This isn’t the only sign of surging interest in Ethereum as a platform, not just as an investment. According to a recent tweet from Binance’s research division, most of the network’s other key fundamental signs are flashing green. More specifically, the number of active addresses has reached a ten-month high, daily on-chain transactions are the highest they’ve been in a year, and Ethereum’s market cap is surging to eight-month highs.

This all comes as “decentralized finance” has begun to drive Ethereum transactions and hype, and as mainstream corporations like Ernst & Young, Samsung, JP Morgan, and dozens of others have started to work with the blockchain and its underlying technology.

Photo by Alexander Mils on Unsplash

The post Ethereum: $100M Fund Goes Ten Years Long on ETH Amid Strong Fundamentals appeared first on Ethereum World News.

Posted on

Crypto Fund Pantera Capital Is Seeking $175 Million For Its Next Venture

As reported by Ethereum World News previously, Pantera Capital has been an integral part of this flowering industry for over five years. Along with recently reaching a five-year milestone, the industry veteran has also posted a lifetime return of 10,000 percent (100x) on its foremost fund, an astounding feat to say the least.

It seems that with a recent announcement, which has been relayed by TechCrunch, that Pantera is looking to continue to achieve astonishing ROIs (return-on-investment) with a recent move to open its third venture fund.

Pantera made its debut in the nascent crypto and blockchain industry in 2013, raising $13 million for its first fund. Later, the San Francisco-based firm raised nearly double the previous amount for its second venture fund. While those funds succeeded as aforementioned, posting staggering returns through investments into early-stage crypto tokens and blockchain-centric projects, Pantera’s aspirations have not been quenched. So most recently, the investment company is seeking upwards of $175 million for its third venture fund, an increase of over seven-fold from the second investment round.

Paul Veradittakit, a partner at the firm, gave a statement on the ambitious target amount, noting:

“[The target amount is a] function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds. With more interesting later-stage investments [on our radar], too, we want to be flexible and able to move with the market.”

According to a document recently filed to the SEC, Pantera has already made a substantial amount of progress, garnering over $71 million in capital allocation from 90 individual investors or investment groups. Veradittakit notes that this new investment vehicle will be a so-called “evergreen fund,” where it will be structured to have an “indefinite” lifespan that lets investors come and go as they choose.

Previous venture investments include early-stage allocations into BitStamp, Xapo, Ripple, and Circle, which have quickly grown to become foremost players in the crypto asset industry.  So it goes without saying that Pantera’s venture investments span this multi-faceted industry and are rather successful as well. As Veradittakit puts it:

“Pantera has invested in lots of wallets and exchanges focused around the world, in Coinbases of different geographies, in enterprise-related blockchain companies. More recently, we’ve funded everything from big data to decentralized application platforms.”

Pantera’s Three Primary Investment Strategies

Many are hopeful that this new fund will succeed, with the firm utilizing venture strategies, along with three following investment strategies that have helped it excel in this nascent industry.

Firstly, Pantera has a fund that exclusively invests in initial coin offerings (ICOs) that look promising to the firm’s assessment and analysis team. As CEO Dan Morehead elaborated, this specific fund buys pre-sale ICOs, which are often early-stage investments when the risk/return ratio is at its peak.

Morehead added the fund does not only invest into ICOs but also provides “the right connections,” creating a symbiotic partnership to benefit both parties.

Secondly, Pantera has a Bitcoin-centric vehicle that has been likened to a hedge fund, with this being the firm’s flagship fund. As aforementioned, the fund has obtained a staggering 10,136% return “net of fees and expenses” on the original investment.

Last but not least, the American company’s last fund invests in established cryptocurrencies via exchanges. Utilizing a machine learning algorithm, the fund can automatically invest in cryptocurrencies, while also fitting its investments to the needs of Pantera’s executive team.

It is unclear in what direction the fund will head, but as the aforementioned firm partner notes, this industry is still in its infancy and there is still a lot of opportunity for growth.


Posted on

Canada’s First Ever Blockchain – Based ETF Approved

Harvest Portfolio has just been delivered the green card of approval to issue the first Blockchain based Exchange Traded Fund in Canada. According to the press release, after extensive internal testing, the fund will launch trading on Toronto Stock Exchange from next week.

The Harvest Blockchain Technologies Index that is already formed by Harvest Portfolios is designed to follow-up the performance of issuers in both the large-cap and coming Blockchain segments.

The approval is good news for two other firms, First Trust Portfolios Canada and Evolve Funds Group Inc., who have already filed for similar ETFs. First Trust’s ETF manager Karl Cheong said that “every conversation with clients inevitably” leads to questions regarding Bitcoin and Blockchain investments.

Related Posts

The movement is very different from US regulators which added out that funds of that kind are not ready for regulation.

Director of the US Securities and Exchange Commission’s or SEC investment management group stated that SEC has:

significant outstanding questions concerning how funds holding substantial amounts of cryptocurrencies and related products” would satisfy legal requirements in the US.

Posted on

Ripple Price Could have Pulled Back But Promising Near Term!

It seems like Ripple price is on the red zone right now pulling back after the significant gaining weekend. However XRP/USD might be doing better than what it looks like.

Ripple Forming new Trading Height

Ripple price since the beginning of November has been on an increasing wave upwards with a couple of dramatic changes swooping away a day or two. The surging trend is going in ever since XRP did actually manage to overcome the important $0.2000 mark on Nov 13.

ripple forecast

Source: coinmarketcap

A closing in increasing triangle pattern is being formed with supports at the psychological $0.2500 and resistance trendline around $0.2650. It is very likely that the price will be correcting for a [little] while because of the whole market outcome for the moment being in the pullback phase. However, as long as support is found above $0.2400, it was a very wise choice to choose Ripple for having it in a traders and investors portfolio.

XRP token price against the US Dollar has been able to create new-higher trading ground above $0.2400 [previously being below $0.2000].

$100 Mil XRP Hedge Fund

TechCrunch founder Michael Arrington has announced the creation of a $100 million hedge fund that will be denominated in XRP, the native token of Ripple.

Arrington made the announcement at the Consensus: Invest conference in New York, revealing that the fund will be called Arrington XRP Capital. Significantly, investors will buy shares of the fund and receive distributions in XRP.

“A year ago I was just a crypto enthusiast,” Arrington wrote in a blog post that accompanied the announcement. “Now I’ve altered my career path to focus entirely on cryptocurrencies and related technologies. And this isn’t just a short term focus. With this new fund I’m signaling my intent to spend the rest of my career on cryptocurrencies. There will be dramatic ups and downs along the way, but we’re in this for the long haul.”

According to Fortune, the fund — which has raised approximately half of its $100 million target — will invest primarily in cryptocurrencies and initial coin offerings (ICOs), although it may obtain small equity stakes in blockchain startups.