The investment was led by Electric Capital, with participation from MassMutual, Highland Capital, MIT Investment Management Company, Haun Ventures, ParaFi Capital, Khosla Ventures, General Catalyst, Blockchain Coinvestors, and Nikesh Arora, among others.
Bitwise officials stated that cryptocurrency is increasingly establishing itself as a recognised asset class, comparable to private equity, private credit, and high-yield bonds. They noted that the company has aimed to serve as a stable partner for clients over the past seven years and intends to continue that role for the long term. They also acknowledged the support of new and existing investors who align with the firm’s direction.
According to the official press release, the firm reported significant growth in 2024, with client assets increasing more than tenfold to exceed USD 12 billion across its three primary business lines: beta, alpha, and onchain solutions.
The same source reveals that Bitwise currently offers 32 investment products, including yield and alpha strategies, multi-strategy solutions, separately managed accounts, onchain staking, index funds, and bitcoin exchange-traded products. The company provides access to cryptocurrency investment opportunities designed for various client objectives.
Funds from the latest investment round will be used to support the firm's financial position and expand its investment capabilities and client services.
Bitwise operates offices in San Francisco, New York, and London, and it plans to increase its workforce to more than 130 by the end of the year to meet growing investor demand for research, advisory services, and educational resources. The firm's investment products are used by registered investment advisors, family offices, and institutional clients across the US and Europe, along with more than 15 banks, broker-dealers, and financial platforms.
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