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
  • 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

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

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.

recent research

Unlocked by Template.png

Research

The march toward an interoperable and onchain-by-default internet depends on reliable messaging and value transfer across heterogeneous domains. Crosschain protocols now process >$1.3T in combined annual transfer volume and secure tens of millions of user interactions, yet no single design dominates.

article-image

The goal, per Santiago Santos, is to make crypto a relatable piece of tech for people who may not even understand it

article-image

Stripe stablecoin unit aims to operate under a federal charter enabling regulated stablecoin issuance and custody services

by Blockworks /
article-image

Will TradFi make crypto better or create more problems than it solves?

article-image

Subtle decisions by risk curators saved Aave from significant turmoil

article-image

The new Rootstock Institutional unit aims to connect professional investors to Bitcoin-native yield and liquidity strategies anchored in BTC’s security layer

by Blockworks /
article-image

DOJ files record civil forfeiture against more than 127,000 BTC linked to scam activity

by Blockworks /