Bitwise is proud to be one of the first three independent @jito BAM node operators, alongside @triton_one and @solstrategies.
Block building decides which transactions land on Solana and in what order. Jito built BAM to do it inside sealed hardware, where transactions stay private until execution.
Until now, Jito ran every BAM node itself, so this is a big step toward decentralizing block building on @Solana.
Bitwise
Crypto asset manager running over 70 products with $9B in client assets
4.0/ 5
Our score
Very good
Products
Spot ETFsETPs / ETNsIndex fundsPrivate funds+3
Assets under management
$9 billion as of June 2026
Flagship products
BITBBITWETHWNRR+1
What is Bitwise?
Bitwise Asset Management is a crypto-specialist asset manager running over 70 investment vehicles across exchange-traded products (ETPs), private funds, separately managed accounts, DeFi lending strategies, and staking. The firm managed $9 billion in client assets as of June 2026, serving more than 5,500 private wealth teams, registered investment advisors (RIAs), family offices, institutional investors, and 21 banks and broker-dealers.
Leadership and backing
Founded in 2016, the company operates from headquarters in San Francisco alongside offices in New York and London, employing more than 175 professionals. Bitwise was co-founded by Chief Executive Officer Hunter Horsley and Chief Technology Officer Hong Kim, with Teddy Fusaro serving as President and COO, and Matt Hougan as Chief Investment Officer. The firm has completed multiple venture funding rounds, including a $70 million Series B in June 2021 co-led by Electric Capital and Elad Gil, followed by another $70 million financing round in February 2025 with participation from MassMutual, Highland Capital, MIT Investment Management Company, Haun Ventures, ParaFi Capital, Khosla Ventures, and General Catalyst.
Product range and fund structure
Bitwise introduced its first crypto index fund in 2017 and has expanded into spot exchange-traded products, thematic strategies, and onchain asset management. Its publicly traded line includes the Bitwise Bitcoin ETF (BITB), the Bitwise Ethereum ETF (ETHW), the Bitwise 10 Crypto Index Fund (BITW), and single-asset products such as BAVA, BSOL, BWOW, CLNK, and the NEAR ETP (NRR), launched in September 2026. The firm also operates onchain risk-curation products, including the Bitwise Premium RWA Vault on Morpho deployed across Ethereum, Base, and Arc with $18.2M in total value locked in October 2026, the tokenized Bitwise Crypto Carry Fund in partnership with Superstate, and Automated Token Portfolios running via Coinbase and Glider.
Operational risks and regulatory status
Bitwise ETPs are not registered investment companies under the Investment Company Act of 1940, and therefore are not subject to the same regulations as mutual funds or ETFs registered under the 1940 Act. Investors in spot crypto vehicles face crypto market volatility and tracking disparities between spot market prices and exchange trading hours. Onchain lending vaults use third-party protocols such as Morpho and Arc.
Founders
Hunter HorsleyCEO
Hong KimCTO
Teddy FusaroCOO
Best for:Financial advisors managing client crypto allocationsInstitutions seeking spot crypto ETPsInvestors interested in tokenized carry funds
Pros and cons
Pros
- Manages $9 billion in client assets across more than 70 investment vehicles
- Nine-year track record focused entirely on crypto asset management since 2016
- Serves over 5,500 wealth advisory teams, institutions, and 21 broker-dealers
- Offers publicly traded spot crypto ETPs
Cons
- ETPs are not registered under the Investment Company Act of 1940
- Onchain vaults carry smart-contract risk across Morpho and underlying protocols
Our review
4.0/5
Very good
Bitwise provides access across spot ETFs, private funds, and onchain vaults, but its crypto ETPs lack Investment Company Act protections and expose investors to native asset volatility.
Bitwise Asset Management introduced its first crypto index fund in 2017 and has developed into a dedicated manager with $9 billion in client assets as of mid-2026. The firm operates offices in San Francisco, New York, and London with a staff exceeding 175 professionals. Its product catalog spans over 70 investment vehicles, including spot exchange-traded products like BITB, ETHW, and NRR, separately managed accounts, tokenized funds, and onchain risk vaults.
Its client roster covers institutional investors alongside more than 5,500 advisory groups, including private wealth teams and family offices, in addition to 21 banks and broker-dealers. Beyond public spot ETPs, it has expanded into decentralized finance strategies, such as onchain lending curation on Morpho across Ethereum, Base, and Arc, as well as the tokenized Bitwise Crypto Carry Fund launched alongside Superstate.
- Bitwise's core exchange-traded products are not registered under the Investment Company Act of 1940 and are not subject to the same regulations as mutual funds registered under that act.
- DeFi vaults carry smart-contract and protocol risks, while single-asset ETPs remain exposed to crypto-asset price volatility.
Bitwise has raised over $150 million through venture funding rounds from investors such as Electric Capital, MassMutual, and Khosla Ventures.
Specs
| Products | Spot ETFs, ETPs / ETNs, Index funds, Private funds, Managed accounts, Staking products, Tokenized funds · unverified |
|---|---|
| Clients | Retail, Accredited investors, Institutions, Financial advisors · unverified |
| Assets under management | $9 billion as of June 2026 · unverified |
| Flagship products | BITB, BITW, ETHW, NRR, BHYP · unverified |
| Assets covered | BTC, ETH, SOL, NEAR, XRP, Hyperliquid · unverified |
Not disclosed by the provider: Fees, Minimum investment, Regulators, Custodians.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Spot crypto ETFs
Issues exchange-traded products tracking single assets and baskets, including BITB for Bitcoin, ETHW for Ethereum, and NRR for NEAR.
Bitwise 10 crypto index
Provides market-cap-weighted exposure to the ten largest crypto assets through the BITW index vehicle.
Onchain lending curation
Curates risk-managed vaults on Morpho across Ethereum, Base, and Arc, managing deposits in USDC and Agora's AUSD.
Tokenized private funds
Offers the Bitwise Crypto Carry Fund, an onchain tokenized vehicle developed in partnership with Superstate.
Automated token portfolios
Delivers programmatic model portfolios for wealth managers built in collaboration with Coinbase and Glider.
Staking integration
Operates staking-enabled vehicles, including the Hyperliquid ETF (BHYP), incorporating staking rewards.
Inside Bitwise
Exchange-traded products and ETFs
Bitwise lists spot crypto exchange-traded products, such as BITB, ETHW, and NRR, which provide brokerage-account access to digital assets.
Separately managed accounts
The firm provides tailored crypto asset management directly within segregated accounts for institutions and wealth management teams.
Private funds
Bitwise manages pooled private investment vehicles, including its original crypto index fund.
DeFi strategies and staking
This arm deploys client capital into protocol staking rewards and operates curated onchain lending vaults, such as the Bitwise Premium RWA Vault on Morpho.
Tokenized funds
Products like the Bitwise Crypto Carry Fund, developed with Superstate, offer onchain fund shares through a product developed with Superstate.
What users say about Bitwise
There are not enough user reviews to identify clear positive or negative trends for Bitwise. Mentions primarily consist of news and informational references to its research and ETF products.
Based on 5 Reddit posts and comments from the last 12 months, checked Oct 23, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used Bitwise? Share your experience below.
Funding and investors
$2.3BTotal raised
4Rounds
43Investors
-
Funding round Feb 2025 $70MBL B.lcVenture capital BC Blockchain CoinvestorsVenture capitalSource
Electric CapitalVenture capital
GC General CatalystVenture capital
HV Haun VenturesVenture capital
HC Highland CapitalVenture capital
HC Highland Capital PartnersVenture capital
KV Khosla VenturesVenture capital
MI MIT Investment Managament CompanyVenture capital
MI MIT Investment Management CompanyVenture capital
MM MMVenturesVenture capital
MA MassMutualVenture capital
NA Nikesh AroraVenture capital
ParaFi CapitalVenture capital
-
Series B Jun 2021 $70MSource Electric CapitalVenture capital
Lead
AA Abby AdlermanVenture capital
AN Adam NashVenture capital
AD Alison DavisVenture capital
AS Asha SharmaVenture capital
AY Ashley YukiVenture capital
BS Benjamin SteinVenture capital
Blockchain CapitalVenture capital
CJ C.J. FitzgeraldVenture capital
CE Carolyn EversonVenture capital
CP Carrie PomerantzVenture capital
Castle Island VenturesVenture capital
CG Charles GoldmanVenture capital
Coinbase VenturesExchange ventures arm
DS Daniel Saul SundheimVenture capital
DF Dave FogelVenture capital
DM David McCormickVenture capital
EG Elad GilVenture capital
-
Series A May 2019 $10.5M
-
Seed Dec 2017 $4MAL Adam LudwinVenture capital AN Adam NashVenture capital Blockchain CapitalVenture capital
CC Caffeinated CapitalVenture capital
CF Collaborative FundVenture capital
CV Craft VenturesVenture capital
DK David KingVenture capital
EG Elad GilVenture capital
EW Eric WuVenture capital
GC General CatalystVenture capital
KV Khosla VenturesVenture capital
NR Naval RavikantAngel investor
RP Ryan PetersenVenture capital
SS Suna SaidVenture capital
TP Third Point VenturesVenture capital
FAQ
Who founded and runs Bitwise?
Bitwise was founded by CEO Hunter Horsley and CTO Hong Kim, with Teddy Fusaro serving as President and COO. Chief Investment Officer Matt Hougan leads the firm's investment and research operations.
What products does Bitwise offer?
Bitwise provides over 70 investment products, including spot crypto ETFs and ETPs like BITB and ETHW, private index funds, separately managed accounts, and tokenized strategies. It also runs curated lending vaults on decentralized protocols like Morpho across Ethereum, Base, and Arc.
Does Bitwise have a native token?
It issues exchange-traded products, private funds, and curated vaults.
How safe are Bitwise investment products?
Bitwise has operated since 2017 with no reported security breaches or fund hacks across its managed offerings. However, its exchange-traded products are not registered under the Investment Company Act of 1940, and holdings remain exposed to market price swings and underlying protocol risks.
Who can invest in Bitwise products?
Retail investors can purchase Bitwise's publicly traded spot ETFs and ETPs through standard brokerage accounts. The firm's public ETPs are available through standard brokerage accounts; access to other products depends on the offering.
Latest from Bitwise on X
@HyperliquidX demand is strong.
The Bitwise Hyperliquid ETF, $BHYP, has done $57M+ in volume today.
Grateful for the opportunity to give investors exposure to hyperliquid:native.
The Bitwise Hyperliquid ETF, $BHYP, has done $57M+ in volume today.
Grateful for the opportunity to give investors exposure to hyperliquid:native.
Bitwise CIO @Matt_Hougan explains why you should be more bullish on bitcoin now than you were a year ago. https://t.co/wj07I0cVSU
Our updated bitcoin forecast for 2036:
Bear case: $130,686
Base case: $1,599,766
Bull case: $3,667,911
Read the report to find out how we get there:
https://t.co/I975UhTGDY
Bear case: $130,686
Base case: $1,599,766
Bull case: $3,667,911
Read the report to find out how we get there:
https://t.co/I975UhTGDY
Honored to have Bitwise President @teddyfuse speaking at @chainlink's Link:NYC event tomorrow in Hudson Yards.
Catch him on stage to hear his perspective on the next wave of digital asset adoption. https://t.co/BVF0VYepve
Catch him on stage to hear his perspective on the next wave of digital asset adoption. https://t.co/BVF0VYepve
Recent public posts from @Bitwise, shown as published. Not reviewed or endorsed by CryptoReview.
Alternatives to Bitwise
Global asset manager with $15.3T in assets under management as of June 2026
Spot ETFs · Index funds +3Retail · Institutions +1iShares ETFs · Aladdin +1
European digital asset manager with physically backed ETPs and over $7B in AUM
Spot ETFs · ETPs / ETNs +2Retail · Institutions +1$7.4 billion (December 2025)
Institutional digital asset manager and Nasdaq-listed firm founded in 2018
Spot ETFs · ETPs / ETNs +3Retail · Accredited investors +2Invesco Galaxy Bitcoin ETF (BTCO) · XBSE +3
Crypto ETP issuer managing over $11B across physically backed single-asset and index products
Spot ETFs · ETPs / ETNs +2Retail · Institutions +1$11.3B
Crypto asset manager founded in 2013 and backed by Digital Currency Group
Spot ETFs · ETPs / ETNs +2$50 billion in 2021Grayscale Bitcoin Trust · Grayscale Ethereum Trust +3
Independent asset manager with $2.54T AUM and the BTCO spot bitcoin ETF
Spot ETFsRetail · Institutions +1Invesco Galaxy Bitcoin ETF, BTCO