Titan Crypto is a startup that aims to make professionally managed cryptocurrency portfolios available to retail investors. The launch of the new product corresponds with a significant increase in the value of cryptocurrency assets.
Capital advisor Titan has officially launched its new cryptocurrency offering, which is targeted at investors in the United States. The move provides market players with alternative channels for obtaining digital assets such as Bitcoin (BTC) and Ether (ETH) (ETH).
Its new Titan Crypto product, which was launched on Wednesday, intends to invest in a concentrated basket of major cryptocurrencies that have the potential to outperform over the long run, according to the business.
The portfolio will be actively maintained by Titan’s dedicated cryptocurrency team, and it will be offered to individuals of the United States who do not reside in the state of New York.
With the completion of a $58 million Series B financing round, headed by Andreessen Horowitz, Titan has now raised a total of $75 million in investment to date.
Despite the fact that the funds raised were not exclusively tied to Titan’s crypto businesses, a spokesperson for the company told Cointelegraph that the funds would be used to bootstrap Titan’s crypto offering “well beyond the flagship coins and behaviours,” referring to Bitcoin and Ether as examples.
Decentralized finance (DeFi) coins, according to the spokesman at the time, were highlighted as a potential growth path in the future.
Andreessen Horowitz has been a driving force behind some of the most successful cryptocurrency fundraising campaigns. As previously reported by Cointelegraph, the California-based venture capital firm has announced a $2.2 billion fund dedicated to blockchain and cryptocurrency investments.
Some of the most significant fundraising rounds have gone to cryptocurrency exchanges and other service providers that are providing traditional onramps to digital currency investing, such as brokerage firms.
A rising body of research suggests that institutional investors are increasing their exposure to digital assets, particularly bitcoin and other cryptocurrencies. According to on-chain data given by Glassnode, large Bitcoin transactions, which are generally indicative of institutional purchasers, have increased dramatically in recent months.
The dominance of large #Bitcoin transactions (> $1M) has risen from 30% in 2020, to over 65% in 2021.
This reflects a growing share of institutional interest, and capital being transferring across the #Bitcoin network. Read more in The Week On-chainhttps://t.co/KJyj75Iekg pic.twitter.com/B4nnbfBBZR
— glassnode (@glassnode) August 10, 2021Aside from the on-chain data, institutional players such as VanEck are continuing to advocate for the creation of a Bitcoin exchange-traded fund.
Many cryptocurrency analysts believe it is only a matter of time until the Securities and Exchange Commission of the United States joins its colleagues in Canada in approving the first Bitcoin exchange-traded fund (ETF).
