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Hedge Fund Crypto Venture Capital

Private Capital Is Buying the Wrapper, Not the Listing

hedgeco

3 hours ago

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HedgeCo.Net — Four prints from the same week describe one market. Goldman Sachs agreed to pay up to $2.25 billion for NEOS and its options-income ETFs. Databricks took $5 billion at a $190 billion mark and left the IPO on the table. Pershing Square USA, listed in April, is trading at a 22% discount to NAV. Robinhood’s second venture BDC priced at $25 and opened at $22.50. None of these is a story about a single manager. Together they say the same thing: the scarce asset is no longer the listing....

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