Bitwise Asset Management, a leading crypto-specialist asset manager, has secured $70 million in new equity funding. The investment round, led by Electric Capital, also saw participation from MassMutual, Highland Capital, MIT Investment Management Company, Haun Ventures, ParaFi Capital, Khosla Ventures, General Catalyst, Blockchain Coinvestors, and Nikesh Arora, among others.
The latest funding solidifies Bitwise’s position as a key player in institutional crypto investing. While the company has not disclosed its valuation, this investment highlights increasing confidence from financial institutions and technology investors in the firm’s long-term strategy.
With institutional interest in crypto on the rise, Bitwise continues to position itself as a bridge between traditional finance and digital assets. “Following the path charted by private equity, private credit, and high-yield bonds, crypto is coming into its own as an increasingly institutional and unique alternative asset class,” said Bitwise CEO Hunter Horsley.
Over the past year, Bitwise has experienced significant growth, with assets under management surging more than tenfold to over $12 billion. This expansion reflects a broader trend of institutional adoption of crypto investment vehicles, as firms seek diversified exposure to digital assets.
The $70 million raised will strengthen Bitwise’s balance sheet and accelerate the development of its three core business lines: beta, alpha, and onchain solutions. The company plans to enhance its investment capabilities, expand research efforts, and improve client services.
Additionally, Bitwise aims to grow its team from 100 to over 130 employees this year to meet increasing investor demand for specialized crypto investment solutions, research insights, and client education initiatives.
Founded in 2017, Bitwise has established itself as a trusted partner for institutional investors seeking exposure to digital assets. The firm offers a suite of 32 investment solutions, including index funds, yield and alpha strategies, multi-strategy solutions, separately managed accounts, onchain staking, and Bitcoin ETPs.
Headquartered in San Francisco, with offices in New York and London, Bitwise serves over 5,000 wealth teams, RIAs, family offices, and institutional clients across the U.S. and Europe. More than 15 banks, broker-dealers, and platforms utilize Bitwise’s products to gain strategic access to crypto investments.
Bitwise’s latest round attracted a diverse set of investors, reinforcing the firm’s credibility in both the crypto and traditional financial sectors. The involvement of firms like MassMutual, General Catalyst, and Khosla Ventures further underscores institutional confidence in Bitwise’s long-term vision.
As crypto markets evolve, Bitwise remains committed to being a responsible steward of investor capital and an active participant in developing the broader crypto ecosystem. The firm aims to continue shaping the future of institutional digital asset investing through research, advocacy, and product innovation.
