December 5, 2022

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cryptocurrency index fund manager Bitwise raised US$70m from Kravis, Druckenmiller, and others

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An overnight piece on the cryptocurrency index fund manager raising $70m from an institutional investor, & 30 individuals

Some big names in this:

  • Henry Kravis
  • Stanley Druckenmiller
  • Bridgewater CEO David McCormick

Bitwise has more than US$1.2 bn in assets under management

  • is focused on servicing long-term investors seeking exposure to cryptocurrencies
  • offer funds focusing on, for example: a fund tracking an index of the 10 largest crypto assets (including bitcoin, ether and litecoin), a fund holding 30 stocks whose companies derive 75% of their income from cryptocurrency or have 75% of net assets in crypto

Further evidence of institutional adoption of crypto. 

Meanwhile, BTC steady around $40K

An overnight piece on the cryptocurrency index fund manager raising $70m from an institutional investor, & 30 individuals

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