Increasing Institutional Crypto Investment Leadership
Bitwise Asset Management has strengthened its position as a leader in institutional crypto asset management by raising $70 million in a new fundraising round. Supported by a combination of conventional financial institutions and crypto-native investors, the statement, which was made on Tuesday, emphasizes the company’s ongoing growth into institutional-grade crypto investment solutions.
Profitable Investors Support Bitwise
MIT Investment Management Company, Electric Capital, MassMutual, Highland Capital, Haun Ventures, ParaFi Capital, Khosla Ventures, General Catalyst, Blockchain Coinvestors, and former SoftBank president Nikesh Arora were among the prominent investors who participated in the funding round. Their participation demonstrates the rising trust in Bitwise’s vision and knowledge of the changing digital asset market.
Increasing Product Offerings and Improving Financial Position
Bitwise hopes to improve its range of cryptocurrency asset management tools and fortify its financial position with this most recent investment. With a variety of investing options, such as index funds, alpha strategies, separately managed accounts (SMAs), exchange-traded funds (ETFs), non-custodial staking, and exchange-traded products (ETPs), the firm presently manages over $12 billion in customer assets.
The Future Vision of the CEO
According to Bitwise CEO Hunter Horsley, “Crypto is quickly becoming a unique and institutional alternative asset class, following the path of private equity, private credit, and high-yield bonds.” For the past seven years, we have been a reliable partner to our clients, and we are dedicated to continuing to be the greatest partner for many years to come. Our goal to offer dependable, cutting-edge investment solutions is strengthened by the support of our current and potential investors.
Investing to Support Development and Growth
The $70 million financial infusion will be used by Bitwise to improve investor education and research initiatives, launch new products, and increase its investment capabilities. In order to satisfy the growing demand from wealth managers, family offices, banks, and institutional investors, the firm, which now has over 100 specialists spread across San Francisco, New York, and London, plans to increase its personnel to over 130 this year. There are 14 unfilled positions in fields like engineering, marketing, research, portfolio management, and law, according to a recent search.
Quick Growth in the Face of Growing Institutional Demand
Bitwise’s client assets increased significantly in 2024, more than tenfold, as institutional interest in digital assets increased. The company offers a variety of investment products that are suited to different risk appetites and strategies, and it organizes its activities around three main business pillars: onchain solutions, alpha, and beta. In addition to more than 15 banks, broker-dealers, and financial platforms looking to get exposure to digital assets, Bitwise currently serves over 5,000 registered investment advisers (RIAs), family offices, and other organizations in the United States and Europe.
Adding a Bitcoin Specialist as a Consultant
Additionally, Bitwise declared that Jonathan Bier will be joining them as an advisor. Bier, a renowned Bitcoin specialist and author of The Blocksize War, is a board member of Brink, a nonprofit organization dedicated to Bitcoin research. His primary responsibility at Bitwise will be to advise the company on its contributions to the Bitcoin protocol’s long-term development.
Dedication to the Long-Term Development of Bitcoin
“Bitcoin has no basis, no CEO, and no staff. According to Bitwise, it is the outcome of decades of decentralized cooperation amongst engineers, educators, and visionaries. “We believe it is our duty to help shape Bitcoin’s future, and as we expand, we are privileged to be able to do so because of the faith our investors have in us.”
Bitwise is in a good position to influence the direction of crypto asset management because of its solid investor support and strategy emphasis on institutional crypto adoption.
