Cryptocurrency-focused Active Manager Bitwise has completed equity of $ 70 million led by the crypto venture company electric capital.
The increase also included participation from Massmutual, Highland Capital, My Investment Management Company, Haun Ventures and Parafi Capital, announced Bitwise on Tuesday.
The company plans to use revenue from the increase to strengthen its balance, expand its investment functions and services and grow its number of staff across its offices in San Francisco, New York and London.
BitWise is the issuer of one of the 12 Spot-BTC-Broken Funds listed in the United States, which opened the door to previously unseen institutional investments in Bitcoin.
It has since stated a Spotether Etf and last month the wheels set in motion to list a product that offers weighted exposure to both BTC and ETH.