One of the leaders of asset management in crypto has just landed a new cash injection.
What’s happening:
- Bitwise Asset Management has raised $70M USD in a new financing round
- The funding round was led by Electric Capital
Why it matters:
- Bitwise Asset Management has quickly become one of the most important companies in the digital asset ecosystem, rolling out disruptive new ways to get exposure to crypto through the traditional public markets globally
By the numbers:
- Bitwise Asset Management has more than $12B USD in assets under management
- Currently, Bitwise Asset Management has successfully listed 2 spot crypto ETFs onto major stock exchanges in the United States and has 32 different products for investors to get exposure to digital assets through
Going deeper:
- Multiple other prominent venture capital funds and investors also participated in the latest funding round for Bitwise Asset Management, including MassMutual, MIT Investment Management Company, ParaFi Capital, Khosla Ventures and others
- Bitwise Asset Management previously made waves when they filed for both XRP and Solana spot ETFs with the United States Securities and Exchange Commission
The intrigue:
- Bitwise Asset Management also previously launched a Solana staking Exchange Traded Product in Germany which allows investors to participate in the yield generation fuelled by staking Solana through the traditional public markets
