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Yieldstreet, a platform that allows individual retail investors to access private markets, announced on Thursday its entry into the cryptocurrency market through a partnership with Pantera, a company engaged in investments in digital assets "OG".
Launched in 2015, Yieldstreet positions itself as a place where retail can invest "like 1%" by investing in asset classes including commercial real estate, credit and private equity. These investments are aimed at double-digit returns over months and years. According to co-founder Michael Weiss, the firm can offer end customers access to these investment opportunities by splitting its stake in these funds.
Now the firm's clients will be able to access the Pantera early stage token fund, which is expected to make new investments in crypto tokens. The fund has historically supported tokens such as Polkadot and Aurora, and has generated income of 1400% throughout its life.
"We believe that more than 75% of investors want access to unique crypto investment strategies managed by leading crypto specialists," Weiss said in a press statement. "We intend to become a bridge from Wall Street to cryptocurrency."
Yieldstreet plans to add additional crypto funds to its platform in the future.
Yieldstreet joins a long list of financial technology firms that have recently joined the cryptocurrency, ranging from payment applications such as Venmo to the robotic consulting platform Betterment.
In an interview with The Block, Weiss said that venture exposure provides investors with "bulge and growth", which may not be with more liquid tokens.
"It is also less sensitive to volatility," he added.
Of course, while private markets may offer a kind of return in the long run, there may be risks in the short term, including the risk of default.
Pantera, which manages more than $5 billion in assets, is headed by Dan Morehead, a former head of macro trading at Tiger Management.
