Renowned cryptocurrency asset management firm, Bitwise has secured $70 million from top financial institutions in its latest funding round. Bitwise confirmed the development in a post on its official X page, stating that the funds will be used to sustain innovation in the firm.
The investors that participated in the funding round includes Electric Capital, MassMutal, MIT Investment Management Company, Highland Capital, Haun Ventures and ParaFi Capital. Other participants includes Khosla Ventures, General Catalyst, Blockchain Coinvestors, Nikesh Arora, and others.
According to the post, Bitwise intends to carry on with its founding mission of being a trusted and reliable partner to investors, continually striving to create better opportunities for them. The investment management firm also intends to equip investors with information on how to understand and navigate opportunities in the emerging crypto space.
Bitwise currently has more than 100 employees and oversee over $12 billion in client assets. The investment management firm also has 30+ investment solutions spanning index funds, alpha solutions, non-custodial staking, separately managed account strategies, ETFs, and ETPs. Bitwise added that its team will continuously invest in new solutions across beta, alpha, and on-chain.
Bitwise donates $150,000 to support Bitcoin open source developers
Recall that prior to the launching of its Bitcoin ETF ($BITB) in 2024, Bitwise promised to re-invest 10% of its gross profit each year into BTC. To follow up on this promise, Bitwise donated $150,000 to support Bitcoin open source developers. The investment management firm also donated $100,000 to support Ethereum open source developers. The two non-profit organization, who benefited from the donations are Protocol Guild and PBS Foundation.
Last week, the investment management firm also appointed Jonathan Bier as its advisor. Bier is a board member serving at Brink, a Chief investment officer at Farside and venture partner at Cadenza Ventures. He is a writer who authored the book “The Blocksize War”.
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