Bitwise Asset Management bags $70m funding round led by Electric Capital
Bitwise Asset Management, a San Francisco-based crypto-specialist asset manager, has secured $70 million in a funding round led by Californian VC Electric Capital.
Bitwise lands $70 million funding round
The round saw additional support from Blockchain Coinvestors, Highland Capital, Khosla Ventures, MIT Investment Management Company, MassMutual, Haun Ventures, ParaFi Capital, General Catalyst, and a selection of angels.
Founded in 2017, Bitwise offers a suite of 32 investment solutions for clients, including separately managed accounts, index funds, Bitcoin ETPs, yield and alpha strategies, multi-strategy solutions, and on-chain staking.
The company says its services are utilised by over 5,000 institutional clients across Europe and the US along with “more than 15 banks, broker-dealers, and platforms”.
Bitwise adds that its new funding comes on the back of a successful 2024, during which it grew its client assets to $12 billion across its “three core business lines” of beta, alpha, and on-chain solutions.
According to a company statement, the cash injection will be used to “bolster the firm’s balance sheet and contribute to the buildout of investment capabilities and investor solutions”.
Bitwise, which currently has over 100 employees, also has plans to expand its headcount to “more than 130 this year” to “meet investor demand for investment solutions, research, client service, and education”.
