{"id":44387,"date":"2021-06-15T17:04:14","date_gmt":"2021-06-15T14:04:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44387"},"modified":"2025-08-31T16:46:18","modified_gmt":"2025-08-31T13:46:18","slug":"bitwise-raises-70-million-in-series-b-at-a-500-million-valuation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitwise-raises-70-million-in-series-b-at-a-500-million-valuation\/","title":{"rendered":"Bitwise raises $70 million in Series B at a $500 million valuation"},"content":{"rendered":"<p>Bitwise Asset Management, a digital asset management firm, raised $70 million in a Series B round. Investors valued it at $500 million.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">We are excited to announce the completion of a new funding round, including participation from investors across tech, crypto, and finance. The round follows a year of tremendous growth for Bitwise, and we look forward to building on this momentum! <a href=\\\"https:\/\/t.co\/GGFWlLuD42\\\">https:\/\/t.co\/GGFWlLuD42<\/a> <a href=\\\"https:\/\/t.co\/Vyfdo7mgIC\\\">pic.twitter.com\/Vyfdo7mgIC<\/a><\/p>\n<p>\u2014 Bitwise (@BitwiseInvest) <a href=\\\"https:\/\/twitter.com\/BitwiseInvest\/status\/1404795367175118860?ref_src=twsrc%5Etfw\\\">June 15, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The round was led by venture firm Electric Capital and angel investor Elad Gil. The company was also backed by Henry Kravis, founder of KKR; Dan Loeb&#8217;s Third Point hedge fund; Robert Leshner, founder of Compound; David McCormick, head of Bridgewater; billionaire Stanley Druckenmiller, and other investors.<\/p>\n<p>Bitwise will deploy the funds to strengthen its balance sheet, attract new users, develop the research team, and expand the sales, marketing and customer service teams.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">We&#8217;re hiring! <br \/>Marketing, Engineering, Research, Sales<a href=\\\"https:\/\/twitter.com\/hashtag\/cryptojobs?src=hash&#038;ref_src=twsrc%5Etfw\\\">#cryptojobs<\/a> <a href=\\\"https:\/\/t.co\/FnRyopedr1\\\">https:\/\/t.co\/FnRyopedr1<\/a><\/p>\n<p>\u2014 Bitwise (@BitwiseInvest) <a href=\\\"https:\/\/twitter.com\/BitwiseInvest\/status\/1404251982433509377?ref_src=twsrc%5Etfw\\\">June 14, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>In an interview with CNBC, Bitwise CEO Hunter Horsley said the company did not need additional financing. As of Q1 2021, assets under management exceeded $1.2 billion. The firm also turned a profit then.<\/p>\n<p>According to Horsley, the fundraising round drew the attention of major players in traditional markets. He noted that this would make it easier for the company to promote its products on Wall Street.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWe wanted to attract the best minds, investors and other supporters of cryptocurrency from Wall Street, because we see an opportunity to build a durable organization,\u201d the CEO added.<\/p>\n<\/blockquote>\n<p>In May 2021, the Bitwise Crypto Industry Innovators ETF began trading on the New York Stock Exchange under the ticker BITQ, comprising <a href=\"https:\/\/u1f987.com\/en\/news\/bitwise-launches-etf-based-on-crypto-company-stocks\"> stocks of 30 publicly traded companies in the cryptocurrency industry<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitwise Asset Management, a digital asset management firm, raised $70 million in a Series B round. Investors valued it at $500 million.<\/p>\n","protected":false},"author":1,"featured_media":44388,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[949,1133],"class_list":["post-44387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitwise","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44387"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44387\/revisions"}],"predecessor-version":[{"id":44389,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44387\/revisions\/44389"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44388"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}