Bitwise Asset Management raised $70 million in a new funding round. The company announced the completion of the equity raise on Feb. 25.
Electric Capital, MassMutual, Highland Capital, MIT Investment Management Company, Haun Ventures, ParaFi Capital, Khosla Ventures, General Catalyst, Blockchain Coinvestors, and Nikesh Arora participated in the round.
Bitwise has positioned itself as a leading crypto-specialist asset manager. Client assets under management have surged to over $12 billion. The firm recorded significant growth in 2024, with assets increasing more than tenfold.
According to the press release, Bitwise offers 32 investment solutions, including yield and alpha strategies, multi-strategy funds, separately managed accounts, on-chain staking, index funds, and Bitcoin ETPs. The company aims to provide institutional clients access to tailored crypto investment opportunities.
Funds from the latest raise will strengthen Bitwise’s balance sheet. The company will use the capital to expand investment capabilities and investor solutions. It also plans to enhance research, client services, and education efforts.
Bitwise plans to expand research, client services, and education
Bitwise operates from offices in San Francisco, New York, and London. The firm employs over 100 professionals and plans to expand to more than 130 this year. Institutional demand for crypto investment solutions continues to grow, prompting the firm to scale its operations.
More than 5,000 wealth teams, RIAs, family offices, and institutional clients use Bitwise products. The firm also serves over 15 banks, broker-dealers, and platforms. Its commitment extends beyond investments, contributing to the broader crypto ecosystem’s development.
With fresh capital and growing demand, Bitwise is strengthening its position in the institutional crypto investment space. The firm aims to support clients for decades while advancing the digital asset industry.
