Portfolio Spotlight :: October 2026
October 28, 2026
Moving financial assets onchain is only the beginning. For digital markets to really work, investors also need better access and liquidity.
This month’s Portfolio Spotlight looks at two Pantera companies building those next pieces.
- Fission: Tokenization made funds easier to buy. Fission makes them easier to sell.
- Veranta: Bringing a growing range of global markets onchain and making them accessible from a crypto wallet.
Let’s get into it!
Fission :: Making Tokenized Funds Easier to Sell
Tokenization is moving private-market funds onto digital rails, but liquidity has not kept pace. Making these assets more liquid requires capital and underwriting that account for fund terms, redemption timing and asset-level risk factors.
“The next step is ensuring traditional assets can move at the speed of onchain markets.””
— Jon Shaffer, CEO, Fission
That is the problem Fission solves.
The company gives investors a way to sell shares in tokenized funds without waiting for standard redemption windows, which are infrequent and often capped. Fission speeds up the process by acting as the principal buyer. Investors connect their wallets, receive a quote, and can settle eligible transactions in USDC.
That means investors do not have to wait for another buyer to come along, or for the official redemption date and notice period. Shaffer told Fortune that some of these products can take around 200 days to fully redeem. For a fee, Fission can give eligible investors access to their capital in about 90 seconds or less.
Today, most of its customers are institutional investors and organizations that already hold positions in their supported funds, including hedge funds, crypto treasuries, and stablecoin issuers. As more private-market funds move onchain, Fission plans to extend its liquidity infrastructure across a broader range of tokenized and semi-liquid products.
Tokenization can make investment funds easier to issue, distribute and settle. Fission is building the liquidity layer to make eligible fund interests more liquid and useful.
Pantera led Fission’s $10 million Series A, announced in October 2026.
Listen to the full conversation with Jon Shaffer on the Pantera podcast here.
Veranta :: Global Markets in One Wallet
Veranta lets people take positions on the prices of crypto, stocks, currencies, metals, and other global markets directly from a crypto wallet. These are derivatives, so users get exposure to the price without owning the underlying asset.
Those who have followed the company will know it as Avantis. It originally focused on crypto perpetuals, but rebranded as Veranta on September 14 as it expanded into stocks, currencies, metals, and other global markets. Veranta has also become the home for agentic trading, with its recently launched MCP and SDK.
Since launch, the platform has processed nearly $120 billion in trading volume across more than 100,000 users. It now supports more than 120 real-world markets and plans to grow that to more than 500 by end of year.
The expansion is moving quickly. On September 28, Veranta added 39 new real-world assets spanning AI, software, cybersecurity, consumer, health, and industrials. The company said 26 were available onchain for the first time.
Veranta differentiates itself from peers in a few ways: it offers very high leverage 500x upside perps on crypto (pay only if you win), its RWA offering is amongst the lowest cost onchain especially for large whale traders, and it has 50+ unique assets on the platform untradeable anywhere else onchain.
Veranta also rebuilt its developer tools with agentic trading in mind. The idea is that automated strategies and AI agents should be able to connect directly to the same market infrastructure as human traders. Veranta is currently not available to persons in the United States.
Pantera led the company’s $4 million seed round in 2023 and later co-led its $8 million Series A with Founders Fund. Co-Founder and CEO Harsehaj Singh previously worked on Pantera’s investment team.
Looking Ahead
Putting financial assets onchain is only the first step. The bigger challenge is making them easier to access, trade, and sell.
Fission and Veranta are tackling different parts of that challenge. Fission is bringing more liquidity to tokenized funds. Veranta is bringing more global markets onchain. Together, they show how digital markets are becoming easier to use in practice.
You can view previous Portfolio Spotlights on our Blog here.
We’ll see you next month!
The Pantera Team
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