Key Takeaways:
- Bitwise raises $70M to expand its team and enhance on-chain solutions, backed by major investors like Electric Capital and MassMutual.
- Client assets surged 10x in 2024, surpassing $12B, as Bitwise expands its ETF offerings beyond Bitcoin and Ether.
- Crypto asset management sector is booming, with firms like Pantera and Grayscale also reporting major growth, driven by DeFi and institutional adoption.
Bitwise, a leading crypto asset management firm, has raised $70 million in a new funding round announced on February 25.
The investment, backed by major firms like Electric Capital, MassMutual, and Haun Ventures, will be used to expand Bitwise’s team and enhance its product offerings.
Today we’re excited to announce Bitwise has completed a $70 million round of funding from top financial institutions and technology investors as we continue building the leading crypto asset management firm.
— Bitwise (@BitwiseInvest) February 25, 2025
Investors in the round include:
– Electric Capital
– MassMutual
– MIT… pic.twitter.com/AJ5UCzT8uq
In 2024, Bitwise experienced a tenfold increase in client assets under management, surpassing $12 billion.
The firm specializes in digital asset funds, managing Bitcoin and Ether ETFs while also filing for ETFs tied to XRP and Solana.
Its investment products include a crypto index fund and funds covering various Web3 segments.
The crypto asset management industry is growing rapidly, with firms like Galaxy Asset Management and Grayscale competing alongside traditional finance giants like BlackRock.
In April 2024, Pantera Capital announced a $1 billion crypto fund, while Grayscale reported an 85% surge in portfolio growth in November 2024.
Industry research forecasts annual growth rates of 22%-25% through 2030, driven by increasing regulatory clarity, the rise of decentralized finance (DeFi), and growing institutional adoption.
North America remains the dominant market, but the Asia-Pacific region is seeing the fastest expansion.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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