TLDR:
- High net-worth individuals and family offices are showing renewed interest in the crypto VC space.
- Struck Capital founder, Adam Struck, highlights the impact of US Spot Bitcoin ETFs on changing industry sentiment.
The crypto VC space is experiencing a resurgence of interest from high net-worth individuals and family offices after a period of relative quiet, according to Struck Capital founding partner Adam Struck. In a recent interview, Struck emphasized that the approval of US Spot Bitcoin ETFs by institutions like BlackRock and Fidelity has significantly altered the mindset within the VC industry. This approval has led to a realization among investors that cryptocurrency is an asset class worth considering as part of a diversified portfolio.
Struck manages a $115 million fund that focuses on investing in crypto-native tech companies rather than cryptocurrencies themselves. Despite a downturn in the market last year that caused many investors to step back, Struck remained committed to his strategy. Now, with a renewed interest in cryptocurrency among investors, he sees a growing demand for fund managers who have experience navigating both bullish and bearish markets.
Looking to the future, Struck is seeking exceptional founders with unique insights and a strong focus on user experience and security. The fund is particularly interested in supporting companies that are leveraging new ecosystem proposals to enhance the user interface and make infrastructure safer for users. Struck has already invested in Eclipse Labs, a company in the modular blockchain sector that recently raised $50 million.
Regarding Bitcoin’s long-term trajectory, Struck pointed to the impact of Spot Bitcoin ETFs on prices. As large entities like Fidelity and BlackRock back Bitcoin ETFs, the demand for Bitcoin increases, potentially driving up prices. Struck also mentioned rumors of significant Bitcoin purchases by entities like the Saudis or Emiratis, which could further boost prices. Overall, the renewed interest from high net-worth individuals and institutions, coupled with the approval of US Spot Bitcoin ETFs, has injected fresh energy into the crypto VC space.
