Pantera, a leading investment firm, is reportedly in talks with large investors to raise funds for the creation of the Pantera Solana Fund. This initiative aims to capitalize on discounted Solana (SOL) tokens held by FTX.

According to Bloomberg, Pantera intends to purchase up to $250 million worth of SOL tokens from FTX’s estate. The report cites marketing materials from Pantera outlining the fund’s strategy.

Prospective investors would commit to a four-year vesting period, during which they could acquire SOL tokens at a discounted rate of 39% below the 30-day average, equivalent to $59.95 per token.

The minimum investment for investors is set at $25 million. Pantera plans to charge a management fee of 0.75% and an additional 10% performance fee.

FTX currently holds approximately 10% of the total supply of SOL, equivalent to 41.1 million coins, as indicated by marketing documents.

While Pantera aimed to close the fund by the end of February, an unnamed source confirmed to Bloomberg that the firm had already secured some funding, although the exact amount was not disclosed.

Solana has experienced remarkable growth, surging over 614% this year, according to CoinGecko data.

At the time of publication, SOL was trading around $145, reflecting a 12% increase.

Former FTX CEO Sam Bankman-Fried, known for his significant investments, had previously disclosed Solana as one of his major holdings.

During his trial in November last year, Bankman-Fried revealed that he began accumulating Solana when its value was approximately $0.20.