Summary
- Digital asset manager ParaFi said it has raised $125 million for a new fund investing in stablecoins, tokenization and on-chain financial products.
- The capital adds to the $325 million allocated for existing strategies, expanding ParaFi’s total assets under management (AUM) to around $2 billion.
- The market commentary is that, despite a correction in which bitcoin is down about 26% from this year’s peak, investors are focusing on the growth potential of blockchain-based financial infrastructure.
Forecast Trend Report by Period
Even as the crypto market undergoes a correction, there are signs that institution-led investment demand is persisting.
According to CoinDesk, a media outlet specializing in virtual assets (cryptocurrencies), digital asset manager ParaFi has raised $125 million for a new fund that will invest in stablecoins, tokenization and on-chain financial products.
The capital is in addition to the $325 million earmarked for existing strategies, bringing ParaFi’s total assets under management (AUM) to around $2 billion.
Ben Forman, ParaFi’s founder, said, “This fund will focus on startups in institution-oriented stablecoins, tokenized assets and on-chain financial infrastructure.”
ParaFi has previously invested in major crypto companies including Polymarket, Bitwise and Anchorage.
The fundraising is drawing attention as it was carried out during a market correction. Bitcoin has recently reclaimed the $70,000 level after falling about 26% from this year’s peak.
The market is increasingly viewing investors as focusing on the growth potential of blockchain-based financial infrastructure, separate from short-term price fluctuations.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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