Bitwise, a cryptocurrency asset management firm, has successfully raised $70 million in a recent funding round. The investment was led by Electric Capital, with participation from notable investors such as MassMutual, MIT Investment Management Company, Haun Ventures, Highland Capital, ParaFi Capital, Khosla Ventures, General Catalyst, Blockchain Coinvestors, and Palo Alto Networks CEO Nikesh Arora. This capital infusion is aimed at expanding Bitwise's investment capabilities and services, as well as increasing its team across offices in San Francisco, New York, and London. Bitwise currently manages $12 billion in assets, which include index funds, ETFs, and onchain strategies. The firm's spot bitcoin ETF, launched in the previous year, has attracted nearly $4 billion in assets under management. Additionally, Bitwise has issued a spot ether ETF and recently filed for a spot XRP ETF. This latest funding round underscores the growing interest in cryptocurrency investment vehicles and Bitwise's position within the sector.