Cryptocurrency-focused asset manager Bitwise has done a $70 million equity elevate led by crypto project firm Electric Capital.
The elevate also incorporated participation from MassMutual, Highland Capital, MIT Investment Administration Company, Haun Ventures and ParaFi Capital, Bitwise announced on Tuesday.
The firm plans to make spend of proceeds from the elevate to bolster its steadiness sheet, enlarge its investment capabilities and companies and products and grow its headcount across its locations of work in San Francisco, Fresh York and London.
Bitwise is the issuer of regarded as one of many 12 region BTC alternate-traded funds listed in the U.S., which opened the door to beforehand unseen institutional investment in bitcoin.
It has since listed a region ether ETF and last month region the wheels in coast to checklist a product offering weighted publicity to both BTC and ETH.
