Blackstone Tether Launch $1 Billion Crypto Fund

Blackstone Group’s trading platform operator and the co-founder of Tether, a prominent stablecoin, have joined forces to launch a $1 billion public crypto fund. This initiative is designed to create a diversified digital asset portfolio that will focus on key cryptocurrencies such as Bitcoin, Ethereum, and Solana.

The fund is currently in the process of raising capital through a Special Purpose Acquisition Company (SPAC) named M3-Brigade Acquisition V Corp. This SPAC is jointly backed by both entities involved in the initiative. Due to the confidential nature of the discussions, sources close to the development have chosen to remain anonymous.

The fundraising process is ongoing, and the final investment target and asset allocation strategy are subject to potential adjustments. This move highlights a growing trend among institutional players who are seeking structured exposure to the evolving crypto market through regulated investment vehicles.