In a world where traditional finance and Bitcoin (BTC) are merging, an institution with eight decades of history is taking an important step.

Cantor Fitzgerald, an American investment bank, has entered the digital currency market with initiatives that reflect a strategic vision and long-term commitment. In April 2025, it announced the creation of a $3 billion fund, called “Capital 21 ,” specifically designed for the accumulation of bitcoin.

This investment vehicle , developed in collaboration with Tether, issuer of the USDT stablecoin, the Japanese bank SoftBank, and the Bitfinex exchange, seeks to capitalize on the potential of bitcoin. Peter Karl, managing director and head of cryptocurrency and digital assets investment banking at Cantor Fitzgerald, said at the Bitcoin for Corporations 2025 conference: “Bitcoin is in the early stages of institutional adoption.”

The partnership with Tether, which contributed $1.5 billion in bitcoin, and SoftBank's return to the digital asset sector after years of absence, had an immediate impact: after the announcement, the price of bitcoin rose by $7,000, the entrepreneur said.

  Peter Karl, director and head of cryptocurrency investing at Cantor Fitzgerald. Source: YouTube.

Partnerships with Anchorage and Copper as custodian partners reinforce confidence in this initiative, aligning with institutional standards like those of BlackRock, which manages the world's largest bitcoin ETF. Karl explained: “We want to provide flexibility in a volatile market and build a comprehensive partnership with our clients.”

An institution with deep roots

Founded 80 years ago, Cantor Fitzgerald operates three main divisions: Cantor, its investment bank; BGC, a brokerage and financial technology firm; and Newmark, focused on commercial real estate. The latter has collaborated on Bitcoin mining and digital infrastructure projects , consolidating the firm's presence in that sector, Karl said.

Since 2021, Cantor has invested in the digital asset market. Unlike other firms that redeploy fintech analysts, Cantor has prioritized specialization. In 2024, it raised $10 billion in convertible bonds and more than $30 billion in 35 transactions, primarily for Bitcoin mining companies, the executive said during his presentation. A notable example is the $650 million convertible bond for Bitcoin mining company Cleanspark, structured with a 0% coupon and 100% premium, which transformed the company's trajectory.

Responding to an evolving market

Cantor's foray into bitcoin responds to several market dynamics. First, the firm understands it's a growing industry that it can't ignore. Institutional adoption, though nascent, is gaining traction, with companies like Strategy leading the way. With 555,450 BTC, it is the public company with the most bitcoin accumulated in the world, according to data from Bitcoin Treasuries.

BTC holdings held by Strategy. Source: Bitcoin Treasuries.

In addition, Cantor sees a growing demand for Bitcoin-related services among its clients, from miners to corporations interested in including BTC in their treasuries. On the other hand, long-term growth expectations are a key driver. During the Bitcoin for Corporations 2025 conference, Karl emphasized: “While we've made incredible progress, it's still early. There's still a lot of growth ahead.”

The firm anticipates that a more diversified initial public offering (IPO) market will strengthen the digital asset ecosystem, reducing risks for investors. Initiatives such as the Capital 21 fund and the lending program seek to position Cantor as a strategic partner in this process.

Long-term commitment to bitcoin

Unlike “opportunistic players who have entered and exited the market," the executive presents Cantor Fitzgerald as a committed participant. Its agility as a private partnership allows it to quickly adapt to the needs of the sector, he said.

The impact of Cantor's initiatives goes beyond his own objectives. Karl recounted how the announcement of the Capital 21 fund facilitated the closing of deals for other players in the ecosystem: “Success breeds success.”

The firm plans to replicate the strategy it implemented with Capital 21 in future transactions. “We are incredibly excited about that transaction. I can't say much more about it, as it has yet to close,” Karl commented. With plans to expand its lending program, Cantor seeks to position itself as a catalyst for bitcoin's growth . Karl emphasized, “Cantor is pivotal, and we'll be here for the long haul as this sector continues to grow.”