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Bitwise Asset Management announced that its Bitwise Crypto Industry Innovators ETF (BITQ) has exceeded $100 million in assets under management, just six months post-launch on May 11. This ETF provides investors with exposure to crypto-related companies, focusing on firms generating significant revenue from crypto. With a design allowing for less volatility than direct crypto investments, BITQ has become a popular choice for investors. It aims to be a strategic tool for those seeking to capitalize on the growth of the crypto economy.
Bitwise Asset Management, the largest cryptocurrency index fund manager globally, announced the completion of its Series B funding round, led by prominent investors including Elad Gil and Electric Capital, with backing from notable figures like Henry Kravis and Daniel Loeb. Bitwise, currently profitable with assets under management exceeding $1.2 billion, will utilize the funds to enhance its balance sheet and expand its product offerings. The firm has seen a 20x increase in assets year-over-year and continues to grow its team to support over 200 financial advisory firms utilizing its products.
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