Crypto Shenanigans: Bitwise’s $70M Bonanza! 💰

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What to know:

  • Bitwise has completed a $70 million equity rise led by crypto venture firm Electric Capital.
  • The firm plans to use proceeds from the raise to bolster its balance sheet, expand its investment capabilities and services, and grow its headcount.

In a turn of events that would make even Jeeves raise an eyebrow, the cryptocurrency-focused asset manager, Bitwise, has successfully completed a rather impressive $70 million equity raise, all thanks to the good folks at Electric Capital. One can only imagine the celebratory toasts being made with sparkling crypto juice! 🥂

But wait, there’s more! This delightful financial frolic also saw participation from the likes of MassMutual, Highland Capital, MIT Investment Management Company, Haun Ventures, and ParaFi Capital. Quite the gathering, I must say! It’s like the who’s who of the financial world decided to throw a party, and everyone brought their wallets! 💼

Now, what will our dear Bitwise do with this newfound treasure? Well, they plan to bolster their balance sheet, expand their investment capabilities, and grow their headcount across their swanky offices in San Francisco, New York, and London. One can only hope they’ll hire a few more chaps who can decipher the mysteries of crypto! 🕵️‍♂️

For those not in the know, Bitwise is the proud issuer of one of the twelve spot BTC exchange-traded funds listed in the U.S. This little gem has opened the floodgates to institutional investment in bitcoin, which is rather like finding a golden goose in your backyard! 🥚

And if that wasn’t enough, they’ve also listed a spot ether ETF and are now setting the wheels in motion to offer a product that provides weighted exposure to both BTC and ETH. Talk about a double whammy! 🎉

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2025-02-25 19:14