QCP Capital: Market Risk Appetite Increasing, Funds Clearly Shifting to Digital Assets

Singapore-based crypto investment firm QCP Capital stated that amidst the flood of market headlines, a $3 billion Bitcoin fund has become the focus. Cantor, SoftBank, Tether, and CEX are teaming up to launch the 21 Capital fund, led by Brandon Lutnick, with the intent to acquire a large amount of Bitcoin. The fund plans to raise $350 million through convertible bonds and conduct a $200 million private equity funding. Its structure is similar to the much-noticed Strategy company, which heavily invested in Bitcoin, but 21 Capital has new changes: it converts Bitcoin holdings into equity, issuing shares at $10 each, effectively valuing Bitcoin at $85,000 per coin. This is seen as a prototype for large-scale institutionalized cryptocurrency exposure. The launch of the fund coincides with a policy shift in the US, where the Trump administration supports the concept of "digital gold," aiding the crypto market.