The goal is to turn public capital into crypto assets. The plan could change before it closes, though. The $1 billion target is what they’re talking about for now.
The fund would hold at least three assets: Bitcoin, Ethereum and Solana. Based on reports, they’re looking to spread risk by picking more than one token. That stands in contrast to a recent effort by hedge fund executives who want $100 million for a BNB-only treasury.
Institutional interest in crypto treasuries has picked up over the past year. Several public companies have already added Bitcoin to their balance sheets.
This new move could push more firms to consider digital tokens. Cantor Fitzgerald’s role suggests the sponsors want to follow clear rules on how money flows. Investors will want updates on timing, fees and how assets are valued.
Regulators are still watching SPAC deals closely. Any big change in plan could draw extra questions. Based on reports, Collins and Chu haven’t set a firm deadline for closing. The SPAC could hunt for other targets tied to crypto or blockchain if this fund plan shifts.
This effort feels like a next step in bringing crypto into the mainstream of big investors. If it succeeds, a $1 billion digital asset treasury could become a new benchmark.
Featured image from Unsplash, chart from TradingView
