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Crypto Asset Manager Bitwise Bolsters Balance Sheet With $70M Equity Raise
The raise was led by Electric Capital and included participation from MassMutual, Highland Capital, Haun Ventures and ParaFi Capital
Feb 25, 2025, 4:08 p.m.
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, expands its investment capabilities and services and grow its headcount.
Cryptocurrency-focused asset manager Bitwise has completed a $70 million equity raise led by crypto venture firm Electric Capital.
The raise also included participation from MassMutual, Highland Capital, MIT Investment Management Company, Haun Ventures and ParaFi Capital, Bitwise announced on Tuesday.
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The firm plans to use proceeds from the raise to bolster its balance sheet, expand its investment capabilities and services and grow its headcount across its offices in San Francisco, New York and London.
Bitwise is the issuer of one of the 12 spot BTC exchange-traded funds listed in the U.S., which opened the door to previously unseen institutional investment in bitcoin.
It has since listed a spot ether ETF and last month set the wheels in motion to list a product offering weighted exposure to both BTC and ETH.
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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