Bitwise Asset Management has become the first crypto asset manager to offer investment strategies through iCapital’s alternative investments platform, signaling a growing convergence between digital assets and traditional wealth management channels.
The integration provides registered investment advisors (RIAs), family offices, and other institutional investors with direct access to Bitwise’s suite of active crypto solutions within iCapital’s established ecosystem.
“Crypto is rapidly maturing as a distinct alternative asset class with unique return drivers,” said Bitwise CEO Hunter Horsley. “In 2025, we've seen accelerating engagement from institutional allocators, family offices, and advisors.
Our partnership with iCapital represents a significant step toward meeting that demand through a platform many wealth professionals already trust.”
The offering includes Bitwise’s actively managed crypto strategies, which utilize a multi-pronged approach to generate alpha from the evolving digital asset landscape.
These strategies span nondirectional, tactically directional, long-biased, and special situations opportunities. Each is designed to capture differentiated return streams while managing the volatility often associated with crypto markets.
Through iCapital, advisors can now allocate client capital to Bitwise’s private funds, including vehicles with broad exposure to multiple tokens—such as the Bitwise 10 Crypto Index Fund, which tracks a cap-weighted index of the 10 largest cryptocurrencies by market value. Additional strategies focus on individual assets such as Bitcoin, Ethereum, and select blockchain-adjacent investments, including NFTs.
All offerings available through iCapital will carry a $250,000 minimum investment and are limited to qualified purchasers. Advisors will benefit from the operational infrastructure, performance reporting, and end-to-end digital subscription experience that iCapital brings to its alternative investment marketplace.
Beyond its private fund lineup, Bitwise is also a prominent player in the crypto ETF space. The firm has launched more than a dozen exchange-traded products, covering single-asset exposure to Bitcoin and Ethereum, as well as thematic strategies that reflect broader blockchain innovation.
The ETF segment of Bitwise’s business continues to grow amid rising institutional demand and a more accommodative regulatory posture under the Trump administration.
Crypto has remained in the spotlight this year, partly due to favorable shifts in regulatory tone. The Securities and Exchange Commission (SEC), under Commissioner Hester Peirce, has established a Crypto Task Force to explore a more “workable” framework for digital asset oversight.
Meanwhile, enforcement actions appear to be moderating—most notably, the SEC recently dropped a high-profile case against Coinbase. However, that reprieve was short-lived, as the state of Oregon filed its own lawsuit alleging widespread securities violations by the exchange.
The ETF market has also seen notable momentum. According to Roxanna Islam of the Chartered Alternative Investment Analyst Association (CAIA), over 25 new crypto ETFs have launched so far in 2025—putting the industry on pace to match or exceed the 41 funds introduced throughout 2024. The trend suggests that product providers and investors alike see continued value in bringing crypto exposure into traditional wrappers that advisors can more easily use with clients.
The partnership with Bitwise also reflects iCapital’s broader push to expand its reach and relevance among RIAs. Just days before the Bitwise announcement, MAI Capital Management—a Cleveland-based RIA with $29.2 billion in assets under management—revealed it had adopted iCapital’s technology to enhance its own proprietary platform for managing alternative investments. The integration gives MAI advisors a more seamless and scalable way to access private equity, private credit, hedge funds, and other non-traditional asset classes.
In another major development, iCapital recently began rolling out the first products stemming from its collaboration with Goldman Sachs Asset Management and GeoWealth. That partnership, announced in October 2024, aims to create unified managed accounts that combine public and private investments within a single portfolio structure. These hybrid portfolios are designed specifically for RIA clients, offering institutional-quality solutions with greater flexibility and transparency.
As the private markets and digital assets ecosystems continue to evolve, RIAs are increasingly seeking partners who can deliver institutional access with streamlined execution. iCapital’s growing roster of investment managers and strategic collaborations reinforces its role as a central hub for alternative investing.
For advisors, the addition of Bitwise strategies not only broadens their toolkit but also positions them to meet rising client interest in crypto with more sophistication and due diligence than has historically been possible.
Bitwise’s inclusion on iCapital underscores a larger industry trend: the institutionalization of crypto. For years, digital assets were largely off-limits to RIAs due to operational, regulatory, and custodial hurdles. Now, platforms like iCapital are helping to resolve those barriers by embedding crypto into a familiar infrastructure for evaluating, allocating, and monitoring alternatives alongside private equity, credit, real estate, and hedge funds.
Advisors using iCapital can access Bitwise’s materials, fund documentation, and performance data through the platform’s secure digital interface. The due diligence process is streamlined, and investment subscriptions can be completed electronically, making it easier for firms to onboard crypto allocations into existing client portfolios.
For many high-net-worth clients, crypto represents both a source of curiosity and a perceived opportunity for portfolio diversification. As interest in digital assets continues to grow—fueled by generational wealth transfer trends and a broader cultural shift toward digital-native finance—advisors are under increasing pressure to deliver informed, risk-managed crypto solutions. Bitwise’s partnership with iCapital gives RIAs a vetted, institutionally-aligned entry point into this evolving market.
Looking ahead, both firms signal that this is just the beginning. Bitwise is actively expanding its product roadmap across active and passive crypto strategies, while iCapital continues to invest in technology and partnerships that simplify access to complex investments. For advisors seeking to stay competitive in a market where traditional 60/40 portfolios are under review, the integration of digital assets into the broader alts allocation may soon become the norm rather than the exception.
As crypto continues to find firmer footing in client portfolios, partnerships like this one offer a model for how wealth managers can blend innovation with institutional rigor. With digital assets now accessible on a platform used by thousands of advisors nationwide, the convergence of traditional and crypto finance is gaining meaningful traction across the wealth management industry.
