Pantera Capital, a prominent crypto-focused asset manager, is actively raising funds to purchase discounted Solana tokens from the bankrupt FTX exchange, as reported by Bloomberg. The company has initiated the Pantera Solana Fund with the aim of acquiring up to $250 million worth of SOL tokens from the distressed FTX estate. This strategic move involves purchasing SOL at an approximately 39% discounted rate, pegged at around $59.95 based on a 30-day average price.

Investors interested in participating in this opportunity must commit to holding their assets for up to four years, during which Pantera plans to impose a 0.75% management fee and a 10% performance fee. Although the funding round was initially scheduled to conclude by the end of February, Pantera managed to secure a portion of the funds, with the exact amount remaining undisclosed, according to a confidential source cited by Bloomberg.

This acquisition strategy enables FTX liquidators to bolster their funds without significantly impacting SOL's market price. At the time of FTX's collapse, Solana comprised 34.2% of its holdings, with Bitcoin and Ethereum collectively accounting for 22.1%. By purchasing discounted SOL tokens, Pantera aims to capitalize on Solana's potential for growth and recovery in the aftermath of the FTX debacle.

Solana's native SOL token has experienced a remarkable surge in value between March 6 and March 7, currently hovering around $145, marking an approximate 15% increase, according to CryptoSlate's data. This upward trend continues an impressive run that has seen SOL gain 360% in the past year, primarily driven by the overall positive market momentum surrounding the introduction of spot Bitcoin exchange-traded funds (ETFs) in the US, which propelled BTC's price to new record highs.

The recent price surge has attracted new investors to the Solana ecosystem, further bolstering liquidity and growing interest in its blockchain technology. Moreover, DeFi activities on the Solana blockchain are witnessing a resurgence, with the total value of assets locked on the network nearing $3 billion. This milestone represents the highest level since May 2022, according to data from DeFillama, indicating renewed confidence in Solana's decentralized finance ecosystem.

Pantera Capital's Solana Fund presents an opportunity for investors to gain exposure to discounted SOL tokens, potentially benefiting from Solana's continued growth and recovery. However, the four-year holding period and associated fees may deter some investors. As the crypto market remains volatile, it is crucial for investors to conduct thorough research and consider their risk tolerance before participating in such opportunities.