10T Holdings Plans to Launch Third Crypto Fund

Private equity firm’s proposed offering expected to be $500 million.

article-image

Dan Tapiero, Founder and CEO, 10T Holdings

share

key takeaways

  • The firm currently manages about $800 million in assets between the 10T Fund and the 10T DAE Expansion Fund
  • 10T’s initial pair of funds focuses on investments in mid- to late-stage private crypto businesses

Private equity firm 10T Holdings is getting set to launch a third fund focused on digital assets companies, which would bring the company’s assets under management to more than $1 billion.

The firm currently manages about $800 million in assets between the 10T Fund and the 10T DAE Expansion Fund. The new fund, called the 10T DAE Fund 3.0 in a Tuesday regulatory filing, is expected to be $500 million.

The newest fund plans come as the digital assets space has seen an increasing number of use cases and sectors in recent months. 

10T’s existing two private equity funds invest in three segments within the crypto ecosystem: digital asset ecosystem gateways, blockchain infrastructure and what the firm considers to be next-generation financial services. 

Tapiero noted that the firm’s focus on investments in mid- to late-stage private businesses in the digital assets ecosystem makes 10T’s existing funds unique to many other offerings. The 10T Fund and the 10T DAE Expansion Fund do not invest in cryptocurrencies, venture projects or early-stage protocols, he explained.

When 10T was founded last year, there were a dozen or so crypto companies with a market capitalization of $1 billion or more, Tapiero said. Today, there are about 70, he noted. 

“The demand for investing in this part of the capital stack — B and C rounds, and later of some of these larger companies — has been so large,” the CEO said previously.

The 14 companies the first two 10T funds have invested in to date are: Kraken, eToro, Huobi, Mercado Bitcoin, Gemini, Bitfury, Ledger, Helium, Figment, Prime Trust, Deribit, Figure, Animoca Brands and Ledn.

“We think the companies in the first two funds are companies that three, four, five or six years from now will be in the S&P 500,” Tapiero said. “These are the established companies that are in the pole position in the space.” 

Tapiero estimated during Blockworks’ Digital Asset Summit in September that the crypto market value, which is currently at about $2.5 trillion, could hit $20 trillion within five years. He said bitcoin reaching a price of $500,000 within that span is “very reasonable.” 

Bitcoin’s price was roughly $51,200, as of Noon ET, according to CoinGecko.


Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.


Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

The convergence of DePIN and energy generation aims to address modern grid challenges by incentivizing distributed generation.

article-image

The deal is made up of $700 million in cash and 11 million shares of Coinbase’s Class A common stock

article-image

Blockworks Research uses numbers to help crypto advance to a higher stage of storytelling

article-image

While Arizona’s governor could veto another crypto reserve bill, similar North Carolina and Texas laws are approaching the finish line

article-image

However, they noted there’s now an increased risk that unemployment and inflation will rise in the coming months. 

article-image

The network’s most ambitious upgrade since the Merge brings validator streamlining, smart account UX and doubled blobspace to Ethereum