Recently, Franklin Bi, a general partner at Pantera Capital, mentioned that the approval of spot Bitcoin ETFs in the US has provided a significant validation for the cryptocurrency industry. Pantera Capital is in the process of raising a new mega fund totaling $1.25 billion.

Bi did not discuss Pantera's new fund but highlighted that the current environment is favorable for venture firms to secure new capital and position themselves to support emerging ventures.

The approval of spot Bitcoin ETFs has been viewed as a positive development for the crypto industry by Bi. He emphasized that it demonstrates a positive regulatory direction for digital assets. As per Bi, institutional investors see this as a long-term technology trend that they should have exposure to.

Bi suggested that within the crypto sector, the gaming and decentralized finance (DeFi) industries present significant investment prospects. He also mentioned the rise of real-world asset tokenization as an extension of DeFi, allowing traditional financial assets to enter the crypto realm.

Furthermore, Bi highlighted the expansion of blockchain technology into various global markets such as financial markets, supply chains, and consumer applications. He expressed optimism about focusing on these aspects of the industry for long-term progress.

*Please note that this content does not offer investment advice.