Bitwise Raises $70 Million Including From MIT Endowment Fund

Crypto asset-manager Bitwise Asset Management Inc. has raised $70 million as part of a new funding round, which includes backing from a number of high-profile investors like MassMutual and MIT Investment Management Co.

The San Francisco-based company said the fundraising round was led by crypto-focused venture-capital firm Electric Capital, but also included Haun Ventures, ParaFi Capital, Khosla Ventures, Highland Capital, General Catalyst and others. The money will be used to bolster its balance sheet and contribute to the build-out of existing internal initiatives around things like “investor solutions,” according to a press release.

Bitwise is known ...