"Allocator interest in crypto VC and venture capital more broadly is down from prior years," Alex Thorn said, noting that institutional allocators are hesitant due to market volatility.
"High interest rates have made venture funds less attractive, and introducing BTC and ETH ETFs provides alternative ways to engage with crypto investments," Thorn explained.
"This leaves venture investors struggling to find large sources of capital to launch new fund vehicles, leading to a tightening of the crypto venture investing market," Thorn elaborated.
"The ETF-driven market surge is leading to increased competition among surviving crypto VCs for deal flow and putting entrepreneurs in the driver's seat when it comes to valuations," Thorn pointed out.
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