Pantera Capital executive: Bitcoin spot ETF approval means cryptocurrency has received "significant validation"

BlockBeats news, May 5, according to The Block, Pantera Capital general partner Franklin Bi said that the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States this year provided 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 this is a timely opportunity for venture capital firms to generally raise new funds and position themselves to support emerging startups.

Franklin Bi said that the approval of the spot Bitcoin ETF "significantly validated" the crypto industry. He said that the approval "really shows people that, in terms of direction, regulation is still moving in a positive direction for digital assets." "This validation really consolidates the confidence of many institutional investors that this is a long-term technology trend and development cycle, and they should be exposed to this trend."