Bitwise raises $70M to invest in team, onchain solutions

Bitwise Asset Management announced a $70 million funding round on February 25, 2025, reinforcing its position as a leading institutional crypto asset manager. The capital injection, led by venture firm Electric Capital with co-investors including insurance and endowment institutions, will accelerate team hiring and development of the firm's onchain solutions and core product offerings. This funding follows exceptional growth metrics: Bitwise reported a tenfold increase in client assets under management in 2024, with assets now exceeding $12 billion.

The San Francisco-based firm has built a comprehensive investment platform spanning traditional crypto exposure and specialized Web3 products. Bitwise currently offers spot Bitcoin and Ether ETFs to institutional and retail clients, with approved or pending regulatory filings for XRP and Solana ETFs. The company's broader product ecosystem includes crypto index funds and thematically focused funds providing exposure to different segments of the Web3 infrastructure and application layers. This diversified approach positions Bitwise alongside competitors such as Galaxy Asset Management and Grayscale, while also contending with recent entries by traditional asset managers like BlackRock into the digital assets space.

The funding underscores broader industry tailwinds. The crypto asset management sector is experiencing sustained growth momentum, with research firms forecasting a 22–25% compound annual growth rate through 2030. North America remains the largest market by assets under management, while Asia-Pacific is the fastest-growing region. Bitwise's capital raise reflects investor confidence in both the firm's execution and the structural growth of institutional adoption in digital assets, positioning the company to compete in an increasingly competitive landscape dominated by both emerging crypto-native platforms and traditional asset managers expanding into the sector.