Cryptocurrency-focused asset supervisor Bitwise has accomplished a $70 million fairness increase led by crypto enterprise agency Electrical Capital.
The increase additionally included participation from MassMutual, Highland Capital, MIT Funding Administration Firm, Haun Ventures and ParaFi Capital, Bitwise introduced on Tuesday.
The agency plans to make use of proceeds from the increase to bolster its stability sheet, broaden its funding capabilities and companies and develop its headcount throughout its places of work in San Francisco, New York and London.
Bitwise is the issuer of one of many 12 spot BTC exchange-traded funds listed within the U.S., which opened the door to beforehand unseen institutional funding in bitcoin.
It has since listed a spot ether ETF and final month set the wheels in movement to checklist a product providing weighted publicity to each BTC and ETH.
