DigitalX has raised A$20.7 million (approximately $13.48 million USD) in a strategic investment round from institutional investors, including prominent firms Animoca Brands, UTXO Management, and ParaFi Capital. The capital injection will primarily support the expansion of DigitalX’s Bitcoin reserves, reinforcing the company’s Bitcoin-first investment strategy.
As a result of this financing round, DigitalX anticipates growth in its total assets under management. Concurrently, the firm has enhanced its governance framework through the appointment of industry veterans Yat Siu and Hervé Larren to its board of directors.
This strategic move underscores DigitalX’s commitment to solidifying its position within the competitive crypto asset management landscape by combining capital reinforcement with experienced leadership.