Yigit Taha OZTURK 
Bitwise has announced a new $70 million funding round aimed at expanding its team and developing onchain solutions. The investment round included major players such as Electric Capital, MassMutual, MIT Investment Management Company, Highland Capital, and Haun Ventures.
According to the company’s statement, Bitwise experienced 10x growth in client assets under management in 2024, reaching a total of $12 billion.
Growth in Crypto Asset Management
Bitwise remains active in the digital asset fund space, offering Bitcoin and Ethereum exchange-traded funds (ETFs). The company has also filed to offer XRP and Solana ETFs. In addition, it provides crypto index funds and other investment solutions focused on the Web3 ecosystem.
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Crypto asset management firms help investors with risk management, portfolio balancing, and performance tracking. Among Bitwise’s competitors are Galaxy Asset Management and Grayscale, while traditional financial giants like BlackRock have recently entered the crypto asset management space.
Market Expansion and Future Outlook
Crypto asset management firms have continued to grow during the bull market. In April 2024, Pantera Capital announced plans to raise $1 billion for a new crypto fund. Meanwhile, Grayscale’s portfolio saw 85% monthly growth in November 2024.
Market research suggests that the crypto asset management industry is expected to expand at a compound annual growth rate (CAGR) of 22%-25% between 2023 and 2030. Asia-Pacific is the fastest-growing market, while North America remains the largest.
Factors driving this growth include regulatory clarity, the rise of DeFi, and increased institutional interest in digital assets.
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