Bitwise Asset Management, a San Francisco-based cryptocurrency investment startup, raised $4m in seed funding.
Backers included Khosla Ventures via Keith Rabois, General Catalyst via Hemant Taneja, Blockchain Capital, David Sacks, Naval Ravikant, Suna Said, Adam Ludwin, Adam Nash, Elad Gil, Avichal Garg, and several others.
Founded in 2017 by Hunter Horsley and Hong Kim, Bitwise Asset Management develops funds, indexes, insight, and other services partnering to individuals, wealth managers, family offices, investment managers and institutions in navigating cryptocurrency.
The company is also announcing the launch of its cryptocurrency index fund, the Bitwise HOLD 10 Private Index Fund, which holds the top-10 most valuable crypto-assets, selected and weighted by market capitalization. The fund rebalances monthly, capitalizes on hard forks and airdrops.