Elad Gil and Electric Capital led a $70m Series B funding round in Bitwise Asset Management.

Elad Gil, an entrepreneur, and Electric Capital, a venture capital firm, led a $70m Series B funding round in Bitwise Asset Management, a provider of index and beta crypto funds. The round had participation from investors Third Point, Willoughby Capital, Moore Strategic Ventures, Vetamer Capital, Coinbase Ventures, Henry Kravis, Stanley Druckenmiller, David McCormick, Daniel Sundheim, Kevin Warsh, Nadeem Meghji, Tracey Warson, Fidji Simo, Helen Riley, Highland Capital, Khosla Ventures, Blockchain Capital, Castle Island Ventures, Alison Davis, Adam Nash, Naval Ravikant and others. “Bitwise is purpose-built for crypto, and seamlessly blends technology with asset management to navigate a complex space that requires fundamentally different capabilities from other asset classes. Their pure-play focus will serve Bitwise and their clients well as this exciting space continues to evolve," Avichal Garg, Electric Capital Managing Partner.