Spot bitcoin ETF issuer Bitwise raises $70 million, backed by Electrical Capital, MassMutual and Haun Ventures

Bitwise Asset Administration stated on Tuesday it had raised $70 million from a number of buyers together with Electrical Capital, MassMutual and Haun Ventures, in keeping with a social media submit.

“Bitwise has accomplished a $70 million spherical of funding from prime monetary establishments and know-how buyers as we proceed constructing the main crypto asset administration agency,” Bitwise stated in its submit to X.

The corporate issued each spot bitcoin and spot ether ETFs in 2024. Bitwise’s spot BTC product has practically $4 billion in property beneath administration, in keeping with The Block Knowledge Dashboard. Final week, the U.S. Securities and Alternate Fee acknowledged a spot XRP ETF submitting from Cboe BZX Alternate on behalf of Bitwise.

Bitwise has over 100 workers and oversees $12 billion in shopper property. “We are going to proceed to spend money on the staff and in new options throughout beta, alpha, and onchain,” the agency stated in its assertion on Tuesday. 

Different buyers talked about within the funding announcement included MIT Funding Administration Firm, Highland Capital, ParaFi Capital, Khosla Ventures, Basic Catalyst, Blockchain Coinvestors, and Palo Alto Networks CEO Nikesh Arora.

Disclaimer: The Block is an impartial media outlet that delivers information, analysis, and knowledge. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in different firms within the crypto house. Crypto change Bitget is an anchor LP for Foresight Ventures. The Block continues to function independently to ship goal, impactful, and well timed details about the crypto business. Listed here are our present monetary disclosures.

© 2025 The Block. All Rights Reserved. This text is supplied for informational functions solely. It’s not provided or meant for use as authorized, tax, funding, monetary, or different recommendation.