The amount is a record for the company, and has come to play after rising demand from hedge funds and financial advisors
The main recipient of these increased capital inflows has been the Bitwise 10 Crypto Index Fund, which tracks bitcoin, ethereum, litecoin and a few other top cryptocurrencies.
"We're reaping the rewards of two years of building infrastructure," Bitwise Chief Investment Officer Matt Hougan, said. "We are now hitting multi-year highs."
The sharp increase in Bitwise's assets under their management has happened alongside an increase in institutional interest in Bitcoin.
Several famous corporations, including MicroStrategy and Square, have recently disclosed their invest,ents in bitcoin, providing a strong vote of confidence in bitcoin's long-term value as a safe store against inflation.
"Many who were previously cautious now think it is it's time to re-evaluate," Bitwise CEO Hunter Horsley said.
Bitwise has failed to gain approval from the U.S. Securities and Exchange Commission for a bitcoin-focused exchange-traded fund.