COINOTAG News, June 26 – Bloomberg reports that a former private equity leader, Blackstone Group’s trading platform operator, is collaborating with the co-founder of Tether, the prominent stablecoin, to launch a $1 billion public crypto fund. This initiative aims to construct a diversified digital asset portfolio targeting key cryptocurrencies such as Bitcoin, Ethereum, and Solana.
Sources close to the development reveal that the fund is currently securing capital via a SPAC (Special Purpose Acquisition Company) named M3-Brigade Acquisition V Corp., which is jointly backed by both entities. Due to the sensitive nature of the discussions, these insiders have chosen to remain anonymous.
The fundraising process remains active, with the final investment target and asset allocation strategy subject to potential adjustments. This move underscores a growing trend of institutional players seeking structured exposure to the evolving crypto market through regulated investment vehicles.