Pantera’s $300M DAT Strategy: Why Crypto Treasuries Are Key

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Pantera Capital has invested over $300 million in digital asset treasury (DAT) companies, betting on their ability to generate yield and enhance returns compared to passive crypto holdings.

The firm outlined its thesis in a recent blockchain letter, emphasizing DATs’ potential to grow net asset value per share.

With two undisclosed-sized (but $100M+) DAT funds already raised, Pantera’s portfolio spans eight cryptocurrencies and multiple international firms.

General Partner Cosmo Jiang noted that while a third fund is possible, no decision has been made yet.

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