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Date: 2025-02-25 17:04:34
Bitwise, an asset management company specializing in cryptocurrency, has successfully completed a $70 million equity fundraising round led by Electric Capital, a venture firm focused on the crypto sector.
MassMutual, Highland Capital, MIT Investment Management Company, Haun Ventures, and ParaFi Capital also took part in the fundraising round, as announced by Bitwise on Tuesday.
With the proceeds from the fundraising, Bitwise intends to strengthen its financial position, broaden its investment offerings and services, and increase its workforce across its offices in San Francisco, New York, and London.
One of the 12 spot BTC exchange-traded funds (ETFs) available in the U.S. is issued by Bitwise, which has facilitated institutional investment in bitcoin that was not previously possible.
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Since then, Bitwise has launched a spot ether ETF and last month initiated the process of listing a product that provides weighted exposure to both BTC and ETH.
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