Bitwise has attracted significant investments from major American institutional investors to the tune of $70 million.
Bitwise, a four-year-old crypto asset management firm, has closed a Series B funding round, raising $70 million in fresh capital from investors.
According to a report by CNBC on Tuesday, major Wall Street figures such as billionaire investor and Bitcoin (BTC) proponent Stanley Druckenmiller and David McCormick, CEO of asset management giant Bridgewater Associates, participated in the funding.
Commenting on the stellar cast of investors, CNBC quoted Bitwise CEO Hunter Horsley stating that the company was keen to attract major Wall Street and crypto backers.
Bitwise will reportedly utilize the newly raised funds to beef up its balance sheet as well as double the size of its team. As previously reported by Cointelegraph, Bitwise’s assets under management crossed the $1-billion mark back in February 2021.