Bitwise Raises $70M to Expand Crypto Investment Solutions

In a significant development, Bitwise Asset Management, a leading crypto investment firm, has secured $70 million in fresh funding. 

New Funding Strengthens Bitwise’s Position

According to a  Coindesk report, the asset management company, which manages over $12 billion in client assets, received investments from firms like Electric Capital, MassMutual, Highland Capital, MIT Investment Management Company, Haun Ventures, ParaFi Capital, Khosla Ventures, General Catalyst, Blockchain Coinvestors, and Nikesh Arora.

Furthermore, this new funding will help Bitwise strengthen its financial position and add more items to its investment solutions.

It is worth mentioning that the crypto investment firm has seen lots of growth, with assets under management increasing more than tenfold in 2024. 

The firm CEO Hunter Horsley said Bitwise is committed to building a firm that serves its clients for decades. 

“We’re proud to have been a reliable partner to clients for the last seven years, and we are building the firm to be the best partner to clients for decades to come.” 

Bitwise is Expanding Investment Offerings

Notably, Bitwise grants their clients a wide range of investment products. This includes yield and alpha strategies, multi-strategy funds, separately managed accounts, on-chain staking, index funds, and Bitcoin exchange-traded products (ETPs). They believe that selling these solutions will help their clients access different areas of the crypto market.

Similarly, the firm’s services are used by more than 5,000 wealth teams, registered investment advisors (RIAs), family offices, institutional clients, and over 15 banks and broker-dealers across the U.S. and Europe. With the new funding, Bitwise plans to expand its product lineup and improve investor services.

Meanwhile, Bitwise is also growing its team. The company, which has offices in San Francisco, New York, and London, plans to hire more than 30 new employees this year. These new hires will focus on investment research, client service, and educational initiatives to help investors better understand the crypto space.

The Future of Crypto Investing

Bitwise believes crypto is becoming a core part of institutional investing. The firm sees the asset class following a similar path to private equity, private credit, and high-yield bonds. With these market movements, Bitwise intends to provide structured and trusted investment solutions for institutions looking to enter the market.

However, regulatory changes and market volatility remain challenges, but Bitwise is positioning itself to navigate these uncertainties properly. The firm remains committed to being a responsible partner for investors while supporting the broader crypto ecosystem.

Meanwhile, Bitwise remains positive, maintaining its bold prediction that Bitcoin could reach $200,000 by the end of 2025, regardless of whether a national strategic Bitcoin reserve is established.