Swan Bitcoin raises $40M to conquer institutional investors

Swan Bitcoin has completed a 40 million round of financing. The Bitcoin investment services deploys a new offer for institutional.

This Thursday, Swan Bitcoin revealed that it had raised $40 million in venture capital in 2023 and announced the launch of a new branch dedicated to institutional investors.

Called Swan Institutional, the unit will offer products for zinzins such as Bitcoin-backed lending services from next week.

According to FortuneSwan also raised $125 million this year to make its own investments in the Bitcoin ecosystem.

We also learn that the broker is currently working with renowned custodian BitGo to create a joint venture that would become “the first Bitcoin-only trust in the United States”.

Founded in 2019, Swan offers a suite of financial services around Bitcoinincluding buying, selling and holding. The Los Angeles-based company also offers automated savings plans. It was raising $6 million in Series A at the end of 2021.

Read:  Acctual raises $3.8M to simplify accounting for crypto startups

As cryptocurrency prices start to rise again, the amount of funding rounds for startups in this ecosystem seem to be increasing in parallel. Recently, Wormhole Bridge raised $225 million at a valuation of $2.5 billion.

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