Enron veteran Jim Row is in talks with at least four U.S. institutional investors to chip in an anchor investment for a new cryptocurrency staking fund, according to sources with knowledge of the matter.
Lummis and Row were seen speaking at side events around Bitcoin2021 in Miami in recent weeks. Sen. Cynthia Lummis (R-Wy.), a one-time "one-time "laser-eyes" adoptee, has emerged as one of the more bullish U.S. congressional voices on cryptocurrency adoption and regulation.
Row, founder and managing member of Houston-based boutique blockchain investment bank Entoro Capital, has been drumming up capital for his latest institutional crypto investment project.
This and related accounts from Miami are based on conversations with dozens of investment bankers, pension plan advisers, family office executives, hedge fund managers and venture capitalists. Reporting for this story is anonymously sourced to protect the identities of those who aren’t permitted to speak on the record regarding sensitive financial dealings.
(Disclosure: Crypto Investor's publisher is BTC. Inc., Bitcoin21's parent company. We maintain editorial independence.)
Row’s DLT Fund is being run out of his SEC-registered RIA, Entoro Wealth.
DLT Fund plans to pursue a strategy that trades a slew of crypto derivatives — with Row personally running the strategy, tapping into his days running oil and other commodity futures as far back as ENRON. That would launch later this year.
The biggest derivatives market for crypto, of course, resides still in Bitcoin. The Chicago and Houston commodities trading scene has been driving billions of dollars of swaps and other derivative contracts each day via well-known exchanges such as CME.
Row and his team have been “engaged in advanced talks,” with at least four U.S.-based institutional investors, sources said. Those parties would take a co-GP stake in a related new Entoro Wealth venture. That new venture? A crypto-staking vehicle.
The commingled and SEC-registered fund plans to amass as much money as possible to put digital assets to work staking a series of promising protocols, including $ETH 2.0 and newer, buzzy entrants to the space such as $Solana.
All told, Entoro Wealth hopes to raise several hundred million dollars of limited-partner capital to support the two new funds and related strategies.
Enron veteran Jim Row is in talks with at least four U.S. institutional investors to chip in an anchor investment for a new cryptocurrency staking fund, according to sources with knowledge of the matter. Subscribe for full article
Get Access to Our Exclusive Content
Already subscribed? Log In